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How we implemented a tax-efficient structure to bring long-term benefits to UBDS

The challenge

Having worked hard to build up a successful IT consulting business, business owner Diptesh Patel and his family were growing to a point where they needed tax advice to take into consideration their wider circumstances and overall big picture.

Their aspirations for UBDS were to put in place a tax efficient structure for the long-term benefit of the Patel family that would allow flexibility for both organic growth of the business and future acquisitions, de-risk and protect UBDS profits, as well as incentivise key employees to grow the business and share in the rewards of a disposal in approximately five years.

Our work

Following an initial Discovery meeting to fully understand their Big Picture, the Creaseys team have worked with UBDS over the last 18 months to implement a structure that will protect profits for the long-term benefit of the family and put in place a management incentive plan. The structure gives flexibility for growth in the business and acquisitions.

We are also working with the family to address inheritance tax exposures and ensure the structure has the appropriate ownership.

Achieving the Big Picture

The Patel family are now confident the profits from their trading business will be protected for the long-term benefit of the family.

The management incentive plan now entitles key employees to a share in the growth in value of the business once certain targets are achieved, incentivising them to continue the successful growth of UBDS in the future.

Following this successful engagement, Creaseys were appointed as Group Auditors, expanding our relationship with UBDS.

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“Thank you for your support over the last year to execute our family investment company. It is fantastic we were connected with you and look forward to a long-term future with Creaseys.”

Dipesh Patel

Shareholder and director