Generationsskifte af selskaber til familien eller en medarbejder med fokus på de muligheder og begrænsninger, der er i den nuværende lovgivning

Mischa Tan Madsen

Student thesis: Master thesis


English summary: Succession is a relevant subject these days, because the amount of companies to be succeeded within the next 10 years is increasing. In some cases, the challenge is that the shareholder does not know enough about the opportunities within the models and rules of succession. Likewise, they may not be aware of the fact that succession can be and often is a time consuming process. This thesis examines two models of succession, both of which take into account the following three factors: · limited capital raising · minimal tax · the current owner can retain their controlling interest Based on these factors, it has been relevant to review the rules of succession and the rules of the A/B model, as both models meet these requirements. The models are both described, and their possibilities and limitations are discussed in the thesis’ analytical section. The two mentioned models are especially relevant now, since the Danish Tax Authorities has attempted to clarify their legal position. This has resulted in an annulment of one of the valuation methods, primarily used on valuation of shares that should be succeeded to children or other family. The annulment of this particular valuation rule can have major consequences on Danish businesses if nothing is done to the succession rules soon, such as the introduction of repair legislation or an introduction of a new model. The issue of annulment and its consequences are analyzed in this thesis. Additionally, there are some limitations in the A/B model as all its elements have not yet been tested in practice. This makes the model vulnerable, and its legal status in the future is uncertain. As a result of the recent changes in the succession subject, and the uncertainty around the A/B model, one must be able to expect that there will soon be introduced an alternative solution for the many successions in the near future.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2015
Number of pages92