When Things Come to an End

The end must inevitably come for everything. It is a fundamental law of the universe. How we get to that point is up to us, and hopefully, we will have a say on when and how.  Benjamin Franklin said that in this world nothing can be said to be certain except death and taxes. He wrote this in 1789, and it still holds true today. Look at what has just happened at Wimbledon.

When things come to an end, in tennis

Just a few days ago there was a real chance that the men’s semi finals at Wimbledon would be Nadal, Federer, Djokovic and Murray, the top four seeds. However playing Tennis at an international level takes its toll on the body and watching Murry limp around the centre court, we could feel his pain both physical and emotional. The dream is over for this year but let’s hope he is back again next year.

Now. Just when you think the top four seeds are on course, the vagaries and uncertainties of life pop up, and it’s all change. Injury and illness can affect any of us anytime. So, at Wimbledon, Just Federer left now. But the impact of these factors is to give others a chance to shine. New kids on the block who may be top seeds another year.

 

When things come to an end in business

So this week I want to share a few thoughts about when your time with your business draws to an end. Everything is going well. But there are uncertainties out there just waiting to catch you out and trip you up. You could very quickly be facing imminent retirement following a business sale or a winding up. There could be other reasons for you and your business ending your symbiotic relationship, and hopefully, when the time comes it is a planned event and not forced upon you by circumstances.

When things come to an endBut when things come to an end,  you lose your status as a business owner. The result can be a grieving for the loss, and it may take some time for you to adjust.

It is as well to remember that endings are also beginnings and it is up to each of us to find meaning in life. It may be through our work, or through what some would say are the noble arts. If you take the time and commit the necessary resources and motivation, the only thing limiting your success is your own imagination.

 

In today’s Sound bite I am sharing some thoughts about the parting of the ways. What happens when things come to an end for you and your business and how this can affect you. Whatever the reason for you and your business going your separate ways, hopefully, I will have given you something that will both help you and also given you something to think about in the months and years to come.

How do you run your business, is it on these principles or do you have another system? I would be interested to hear your thoughts. As ever, any thoughts or questions on other aspects of tax planning, please call or email.

Call us on 0800 180 4401 or email advisers@thelongpartnership.co.uk

Slaying your tax dragons and making life less taxing!

Alan Long
The Long Partnership

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