Peter left school at 16 to become an apprentice a specialist parts manufacturer to the club car racing fraternity. There he met Stephen, and over the years their commitment to the business led them to becoming directors by the time the owner, Frank, retired in 1974.
Under Peter and Stephen’s partnership, the business thrived, becoming one of the specialist component suppliers to the very lucrative F1 teams, with a turnover in the £m’s. Their success enabled them to build up substantial pensions and investment portfolios. As a proud owner of a bus pass, Peter decided the time had come to stop working, retire, and sell his shares. Concerned about how this could affect his inheritance tax liability (IHT), he came to us for help.