Overvejelser og klargøring til et generationsskifte – med udgangspunkt i en casevirksomhed

Thomas Hansen

Student thesis: Master thesis

Abstract

This thesis is written for the Master course in Business Economics and Auditing (Cand. Merc. Aud.) at Copenhagen Business School. The object of this thesis is to study and analysis the opportunities and demands for handing over a company where the shareholder is in hold of 100 % of the majority. This thesis will analyse the opportunities when the handover take place to a son or an employee. Yearly in the company’s strategy, it’s important to include the generational handover in the plan of action. When the wright buyer shows up, the company has to be ready. The valuation of the company has to follow some standards from SKAT when the handover find place to related parties. This is to make sure, that the transfer is as close to the market value as possible. The valuation to an employee includes goodwill; therefore this valuation will be higher than the one to family. To use the valuation to family, some of the transfer sum has to be a gift from the owner to the over taker. The reorganization of the company takes 3 years, if it got to be tax-free. With reorganization the company can be slimmed down and get rid of any unnecessary operations, for example a property. With the right company structure, the handover of the operating company can find place without paying any tax. A structure with a holding company can also be used if the handover method is the AB-model. This is a financially good model for the over taker, but can be risky for the owner because the operating company is financing the handover. Another method is succession. This method does not require reorganization, but it can by necessary if the valuation is too high. Financially the method is best for family. The owner will get some of the transfer sum up front, and this method is recommended in the thesis. The conclusion of this thesis is that the right method depends on the price, finding the right buyer, optimisation of company structure, taxes, time and future prospects of the company.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2012
Number of pages104