Company Flexiblity
Episode description
How should you structure your business for flexibility?
Shaz looks at a commercial conversion case study and explains the different company structures and the tax implications
He also shares great advice on having a holding company and why this is the key to flexibility
KEY TAKEAWAYS
- Keeping the commercial conversion projects in different companies means they don’t affect each other
- Once you have done a transaction close the company down and move the money to the next one
- When you close a company after completing a commercial conversion and take the money out you will pay personal tax
- If individuals have their own holding company they have the flexibility to do what they want with the cash
BEST MOMENTS
‘With a LLP tax is payable whether the money is taken out or not’
‘There is no personal consequence from loaning between companies’
‘A holding company gives flexibility’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: