We view Owner Managed Business (or OMB) as any business, be it a sole trader, partnership or company, where daily management rests on the shoulders of the people who own the business.
The overwhelming majority of businesses in Northern Ireland the UK are OMB’s, and collectively contribute more to the economy in terms of employment and tax revenue than large corporate organisations.
For many OMBs, the business is simply an extension of the individual, and in many cases most of the individual’s personal wealth is tied up in the business itself or related assets.
McAleer Jackson is an OMB itself and we understand the challenges faced by our OMB clients, and of course the opportunities available to them.
We aim to use our experience to help OMB clients maximise value, protect wealth and to allow them to focus on their most important role - running your business.
Specialist OMB services include:
This is the practical side of accounting that can be really useful to your business, and where we believe we can add real value.
Good reporting is an essential requirement for almost every business. It can help you to improve your overall financial and tax position as well as win the confidence of your investors and bankers through the submission of credible management information.
We can help you to prepare management accounts for either internal or external reporting purposes and tailor our reports to match your specific needs. We take pride in developing concise management reports that use and track key performance indicators (KPIs) that are relevant to you.
Exiting a business that has been built by years of hard work and dedication can be a difficult emotional hurdle, but it can be made easier with forward planning. We are experienced in helping businesses maximise their value by understanding the client’s objectives, identifying and addressing any matters what may discourage potential investors. We can advise on exit strategy to ensure the business is attractive to the widest range of potential purchasers.
When the time comes to sell, McAleer Jackson offer a service that will support the business owner from the first meeting to completion of the transaction. Our experts will:
• value your business
• research the market
• help you to find a buyer
• negotiate the “deal”
• appoint solicitors
• assist with due diligence
• advise on areas of the sale and purchase agreement
• assess and advise on your tax position, ensuring the transaction is structured in the most tax efficient way …
• and work alongside you and your legal team until you sign on the dotted line.
One benefit of getting to know you really well is that we are able to recommend relevant and beneficial tax initiatives. For example, we routinely look at whether our corporate clients are involved in any endeavours which might qualify for research and development (R&D) tax reliefs or whether they could use an enterprise management incentive (EMI) scheme to help motivate and reward their employees. These reliefs and initiatives change over time, as do your circumstances, so regular reviews are recommended.
Many companies consider providing shares or share options to key employees to help achieve corporate goals – such as profit growth; a sale of the business or even a flotation of the company’s shares on the stock market. When cash is tight, the use of share incentives can form a crucial part of an employee’s remuneration package and may be used to help recruit, retain and motivate key employees.
We have considerable experience in dealing with employee share incentives, and can assist in the design and implementation, operation, and ongoing HMRC compliance of the following share incentive arrangements:
• Enterprise Management Incentives (EMI) share option schemes;
• Unapproved share option plans;
• Share Incentive Plans and Save As You Earn Schemes;
• Growth Share plans;
• Long Term Incentive Plans; and
• Phantom Share Option plans.
Agreeing share valuations with HMRC when using an approved scheme is vital in understanding the tax implications. We can assist with ad-hoc share valuation projects for tax purposes and regularly undertake independent share scheme reviews (particularly on due diligence exercises) to ensure ongoing compliance and no unexpected PAYE or NIC liabilities.
Your business might well be the single most valuable asset that you own but do you know how much it is worth, and what you could do to enhance that valuation? Our Team has extensive experience in providing business valuations for a variety of purposes including:
• commercial valuations
• to support certain employee incentive schemes (e.g. EMI schemes)
• for inheritance tax planning purposes.
Have a question?
Whether it’s improving tax efficiency, supporting business growth, or protecting personal wealth, our team of trusted advisors can offer you a full range of accountancy, tax and business advisory services to give you the support you need.
Please use the form and we’ll be in touch, or you can find information on specific staff members by clicking here.