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Importance of consulting specialized lawyers
For many small and medium-sized enterprises (SMEs) and very small family businesses (VSEs), the issue of business succession is a major concern. It is crucial to know when to start planning for the transfer of the business to the next generation and to understand the risks associated with not doing so. In this context, the DAMY team of lawyers is at your disposal to provide you with expert advice in the fields of company law and tax law. Consulting specialized lawyers is essential because these areas of law evolve and change regularly.
Changing legal and tax landscape
The field of business succession involves complex legal and tax considerations, which require the support of specialized lawyers. An example of the changing landscape is the changes introduced in 2013 regarding dividends paid by limited liability companies (SARLs), which now bear social charges beyond the limit of 10% of share capital and current accounts of associates. In addition, the provisions concerning capital gains have also undergone changes.
Despite these changes, it is still possible to benefit from capital gains exemptions in the event of the retirement of the company director. However, given the ongoing reform in this area, seeking advice from the DAMY law firm becomes essential before embarking on any business transfer project. Their specialist knowledge and understanding of the latest legal and tax developments enable them to provide tailored advice and guidance to ensure a smooth and successful business succession process.
Conclusion:
When it comes to the succession of family SMEs and VSEs, seeking professional advice is essential. The DAMY law firm offers cutting-edge expertise in corporate law and tax law to support companies in the complexity of business succession. Changes in laws and regulations, such as the 2013 amendments affecting dividends and capital gains, make it essential to consult competent lawyers who keep abreast of the latest developments. By working with the law firm DAMY, business owners can receive personalized advice and guidance to facilitate a seamless and well-informed transition of their business into the next generation.
