TABLE OF CONTENTS MEMBERS OF THE EXPERT GROUP ............................................................................5 EXECUTIVE SUMMARY .................................................................................................6 1.
INTRODUCTION .......................................................................................................9
2.
BACKGROUND: NATURE AND VOLUME OF BUSINESS TRANSFERS.............................................................................................................10
3.
LEGAL MEASURES ................................................................................................14 3.1. Single-member public limited company..........................................................14 3.2. Simplified public limited company and administrative and accountancy simplification ..............................................................................14 3.3. Conversion of partnerships into limited companies and vice versa ................15 3.4. Continuity of partnerships ...............................................................................15 3.4.1.
Disagreement between co-operating entrepreneurs...........................16
3.5. Further proposals .............................................................................................16 3.5.1. 4.
New legal measures ...........................................................................16
TAX MEASURES.....................................................................................................17 4.1. Inheritance and gift taxes.................................................................................17 4.1.1.
Transfer of business within the family ..............................................17
4.1.2.
Special rules for businesses ...............................................................18
4.2. Transfer of business to third parties.................................................................19 4.2.1.
Measures facilitating the transfer of businesses to third parties ........19
4.2.2.
Tax relief on money received from a transfer which is subsequently reinvested in another SME...........................................19
4.2.3.
Relief for early retirement..................................................................19
4.3. Transfer of business to employees...................................................................20 4.3.1.
Specific measures facilitating transfers to employees .......................20
4.4. Further proposals .............................................................................................20
5.
4.4.1.
Enhanced co-ordination .....................................................................20
4.4.2.
New tax measures ..............................................................................20
SUPPORT MEASURES............................................................................................21 5.1. Soft aid.............................................................................................................21 5.1.1.
Awareness of entrepreneurs...............................................................21
5.1.2.
Information ........................................................................................22
5.1.3.
Education and training .......................................................................23 3