Dominic Cole and Peter Daniel analyse the ways in which individuals can achieve the full sale price of their businesses (with some help from Mr Benjamin Franklin). 

What the article highlights is that the tax landscape for owner-managers can be complex as various taxes cross over at different points in a business's lifetime.

Given that a number of tax reliefs and exemptions require that shareholdings have been owned for a specific period of time before a chargeable event (notably Entrepreneurs Relief and Business Property Relief for capital gains tax and inheritance tax respectively), owner-managers should plan well in advance of any sales of gifts.