Caravan Parks – or perhaps more accurately Holiday and Home Parks – are traditionally family owned, have significant value and have particular challenges but also opportunities.
As family owned businesses they face the same issues that challenge any family business – but more so given the significant values involved and the difficulty in getting Business Property Relief for Inheritance tax. The typical work we get involved in includes:
- Business Property Relief planning for Inheritance tax
- Caravan Park tax planning – Capital Gains Tax mitigation
- Fundraising and exit routes
- Caravan Park succession planning between the generations
- Commercial and strategic direction
- Corporate structuring via limited company, unlimited partnership, LLP
- Caravan Park Incorporation and the benefits of using a Limited company – especially if there is borrowing to pay down
- Caravan Park business planning, financial forecasting, management information and I.T.
- Finance department structuring and best practice
The three of us involved in this work and with a particular specialism in the sector are:
- Howard Hackney – formerly UK Head of Family Businesses for Grant Thornton. Howard has addressed succession and structural issues for at least ten Caravan Parks over the last five years
- Dean Styger – former Finance and later Managing Director of Talacre Beach Group and Plas Coch Holiday Homes Ltd until its sale. Dean has 20 years in this industry
- Mark Steel – former Head of Mergers and Acquisitions for Grant Thornton Liverpool. Mark has held finance leadership roles in family, AIM-listed and private equity-backed businesses
As an owner-managed business ourselves, we understand the issues, risks and opportunities inherent in privately held businesses and can help you navigate a safer course to your end goals. We can also advise on Caravan Park dispute resolution and Caravan Park mediation should the need arise.
Every business is unique but the problems they face are not. With goodwill and a preparedness to compromise there is always a way forward.