Business succession planning: exit options and tax changes for 2025-26

Deciding to leave a business can be as difficult as starting or buying a new one. Business succession planning helps secure the future of your business by establishing a clear plan for leadership and ownership transition.

What is business succession planning?
Business succession planning is the strategic process of identifying and developing internal or external successors to take over the leadership and ownership of a business when the current owner or management team retires, leaves, or is unable to continue. It involves creating a comprehensive roadmap to ensure a smooth transition, minimise disruptions, and preserve the company’s value, market position, and long-term success.

Business succession planning options
Transferring a business to a family member
For family-owned companies, transferring shares to the next generation may be the preferred option. However, this is not always practical. Adult children may be pursuing their own careers or may not have the experience to run the business.