Succession of generations for a trading or limited partnership
Read here about what to consider when your share is transferred to a new owner by gift, inheritance or will.
Important points for succession of generations for a trading or limited partnership
1. Prepare the sale
It is always good to tell the children about your plans well in advance. Then everyone who wants to get a chance to get involved in the business before decisions are made. Everyone also gets a chance to have their say and this can reduce the risks of future conflicts.
Another good idea is to let the next generation get to know the different parts of the family business before the handover. Just as with the purchase of a company, it is good if the person taking over does their analysis of the company and also their own valuation.
It is not unusual for children who, despite not having been active in the business, consider themselves entitled to shares in the company according to inheritance law. Therefore, it can be good to carry out a generational change in connection with, for example, retirement instead of waiting and letting it become a matter for the estate.
2. Report the changed address and partners to the Swedish Companies Registration Office
If the company's address or partners have changed, you need to report it to the Swedish Companies Registration Office.
Change the board of directors and other information
If you can not use the service, there is also a form available.
Form for changing address and partners at the Swedish Companies Registration Office
3. Report the changed visiting address to the Swedish Tax Agency
If the company's visiting address changes as a result of the succession, the remaining partners report this to the Swedish Tax Agency.
If you can not use the service, there is also a form available.
If a partner dies
The share passes to the estate when a partner dies. Responsibility for the business passes to the estate owners. It is now the estate owners who are responsible for assets and liabilities and that taxes and fees are reported and paid. It applies until the estate has been transferred.
Probate - good to think about at the Swedish Tax Agency (in Swedish)
4. Change debited preliminary tax at the Swedish Tax Agency
When you sell all or part of your business, you may need to change your debited preliminary tax.
5. Report the transfer
The company's reporting of taxes and fees is not affected by a share being transferred to a new owner through a so-called beneficial transfer.
Tax rules for partners in trading companies at the Swedish Tax Agency (in Swedish)