Family Business

The Family business can be described as a business in which two or more family members are involved, and most of the ownership or control lies within the said family. Farms are an early example of a family business in which private life and work first intersected. In urban areas, it is still normal for shopkeepers to live in the same building where they work with family members, often helping if the need arises. 

Family businesses are recognized as important and dynamic participants in the global economy. Family businesses have some advantages over other business entities in that their focus is on strategic goals rather than tactical ones, their commitment to quality (often associated with the family name), and their concern for employees. On the other hand, family businesses face a unique set of management challenges arising from an overlap of family and professional matters and activities. 

Lanop holds explicit knowledge regarding accounting standards and processes and the tacit knowledge to apply them in the business world. Such knowledge is a valuable resource as it takes a considerable amount of time and effort to attain. 

Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations. 


Family Business Accountants

Sole Traders
Affordable Cost
Quality of Work

In case of an owner’s death or retirement, various policy, cash flow, and management decisions must be taken and planned for; this is known as succession planning. 

Simple Business, Simple Family 

In this model, the successor’s role is clear and unchallenged, siblings do not get involved, and the family’s commitment and heritage contribute to the firm’s success. 

This model has worked well, but it is vulnerable as it places all bets on one candidate. 

Businesses like this are focused, with a concentrated family structure. With only a few family members involved, they do not need complex policies for the business. This type of family business is not diversified or complex and benefits from centralised management. 


Simple Business, Complex Family 

These types of businesses are also relatively simple, but many family members, instead of just a couple, are involved in the management and ownership. 

A family constitution that clearly sets out values and policies for how the family owns manages, and relates to the business is helpful for these types of firms. 


Complex business, simple family 

Firms, where the owners typically have small families and big markets to play in, fall into this category. 

With only a few family members involved, it is important to professionalise this type of business to limit its dependence on scarce family talent. 

Merit-based leadership and mature corporate governance are minimum requirements. 


Complex Business, Complex Family 

Managing firms where the business and the family have large complex structures requires significant investment and effort in governance systems to succeed. 

This type of family business needs mature and practical policies that set clear expectations for leadership and engage development programs to enhance leadership talent. 

New leaders may be inexperienced, unprepared, and have a different approach to leadership than their predecessors. 

Succession planning is essential in ensuring that the business is handed over to new management smoothly and seamlessly. Lanop does this by adopting efficient measures to minimize tax obligations, submitting and compiling accurate paperwork, and completing compliance with HMRC and Companies House.

50% of all family-operated businesses fail to take off, and this figure is at 90% for restaurants, rather alarmingly, I would say. External advisors are often seen to play an essential role in the growth and sustainability of small and medium-sized enterprises. Companies use an external advisor to mitigate deficiencies they face due to a lack of internal resources. Family firms often exhibit certain characteristics that affect the need for external advice. 

Lanop holds explicit knowledge regarding accounting standards and processes and the tacit knowledge to apply them in the business world. Such knowledge is a valuable resource as it takes a considerable amount of time and effort to attain. If a firm does not employ an internal accountant, the decision to outsource external accountants enables the firm to overcome the problem of having limited resources. 


Research has established that family firms have distinct deficiencies relating to human capital. This deficiency arises from their tendency to recruit from within the family, restricting their pool of potential employees. 

Lanop helps your family business last forever. Our family business specialists advise and guide clients on a wide range of financial issues, including VAT registration and submissions, payroll and PAYE processes, HMRC tax investigations, and tax planning, among a multitude of others. 

Services offered at Lanop 

  1. Estate and wealth management
  2. Business financial planning
  3. Management succession
  4. Owner and exit transition strategies
  5. Tax minimisation
  6. Governance
  7. Strategic planning
  8. Inheritance tax planning
  9. Business and Company valuation
  10. Personal Finance Planning 

Lanop Accountants eliminate the need to search for an all-encompassing accountancy firm. Our corporate headquarters in London provide practical and efficient solutions to all your accounting needs. 

Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations. 

Family-owned businesses in the UK may encounter several challenges, including: 

  1. Succession Planning: Ensuring a smooth transition of leadership and ownership to the next generation. 
  2. Conflict Resolution: Managing family disputes that can impact business decisions and relationships. 
  3. Professionalization: Adapting to modern business practices and professional standards. 
  4. Financial Management: Addressing potential conflicts over money and distributions. 
  5. Talent Attraction: Competing for skilled employees against larger firms. 
  6. Long-Term Vision: Aligning family members’ goals and visions for the business. 
Our CaseStudy

Experience&Give HighSuccessRates

Sole traders are individuals who own and operate their businesses. Managing finances and paying taxes are among their responsibilities, as well as finding customers and offering products and services. Keeping track of one’s finances can be difficult for sole traders due to the day-to-day responsibilities of their businesses.


About Us

Steven George-Hilley
Steven George-Hilley
Our accountancy partners from the very beginning. A great team that tailors its services around the needs of the client, always available for advice, whenever its needed. Love working with them.
Asfand tahir
Asfand tahir
I really don’t know where to start from i can not explain my happiness into words i can try but for sure there must be so many praises remains at the end Thanks indeed indeed Zaib And Lanop all team you guys are amazing i would say if I didn’t have you guys i would have been failed in many things All credit to Lanop what a brilliant firm Lanop Its all about you Zaib And Rehmat Thanks indeed you have done amazing job due to your work i have got my Tier 1 extension application successful within 47 days I can’t believe that i am so happy what a job you did I would advise Everyone come to Lanop for 100% guaranteed success in your immigration matters and all other accounting purposes Trust me, When name comes to success and successful it means Zaib. Big thanks to Rehmat What a team i had they are so lovely i disturbed them alot but they answered me every time For all my enquiries Rehmat the legend thanks indeed no words for you words are far behind, can’t explain you in words Rehmat and Tahir sorry I disturbed you alot and indeed you still helped every time. Rehmat is Very very professional the way he works I don’t think anyone does that way in entire country. Sidra Thanks alot for amazing help indeed You are amazing I dont know how to say how much i am happy from your work as well Kainat you too thanks alot Rehmat all credit goes to you thanks alot without your help I won’t be able to write all this today I am so grateful to you all What a team. Make sure guys you join Lanop without wasting anytime. Lanop Accountants ZINDABAD
jas singh
jas singh
I have been a client of Lanop Accountants for the last 4 years and am extremely happy with their services. Zaib and his entire team is extremely professional and dedicated; they always respond swiftly and take personal interest in the business case. I have special words of praise for Rehmat and Waqar as they both helped me in my visa extension process immensely. Zaib has built a team of dedicated professionals and the work ethics speaks volumes about their firm. I would definitely recommend them!
Vinnit Patel
Vinnit Patel
Very professional services, extremely pleased with the advice and work carried out on our accounts.
László Kohányi
László Kohányi
I like their flexible approach. I had a bunch of small problems what was too little to big firms but too big for me. They explained the process, fees etc and solved my troubles. Price wise also been on the better side. Personally I recommend Rehmat. He is super responsive.
Having been a client of Lanop Accountants for nearly 5 years, can't recommend them highly enough. Great professional team working 24/7 to meet every customers's need.
Eda Kendirli
Eda Kendirli
Best and accurate service. Saved me so much time and money.
Femi Yusoof
Femi Yusoof
I have been using Lanop Accountants for more than 3 years, and could not recommend them more highly to any one starting out in business or established business practice. Their professionalism, promptness and excellent customer service makes them in my opinion second to none.
I used Lanop accountants to file some paperwork with HMRC as a non-dom resident. I’ve been very happy and impressed with their work so far. Zaib has been very knowledgeable and helpful. I recommend them and plan to use them again.

Meet Our Experts

Our team consists of skilled and experienced accountants and financial advisors. These professionals are able to assist individuals, entrepreneurs, business partners, and larger ventures with their financial and accountancy acumen. 

Custom Service Page

Your business must register with HMRC if your Taxable VAT Turnover is over £85,000. On top of the initial registration process, our VAT professionals will also help you plan, prepare and file all the necessary paperwork on your behalf, ensuring your returns are filed correctly and on time. 

Our specialist payroll department efficiently manages payroll and PAYE on your behalf by collecting and maintaining meticulous records of employees. We also help keep track of your pay slips and file your P30s and P60s on schedule. 

With Lanop’s team of skilled bookkeepers, you can focus entirely on building your business by letting us handle all tedious record keeping of income, expenditure, bank reconciliations, VAT and PAYE on a state-of-the-art cloud-based software coupled with smart technology applications.  

With our virtual finance director services, our highly qualified tech-savvy financial consultants can assist you with business plans, financial and economic projections, management accounts, budgeting, variance reports, investment decks for business management, and external financial institutions. 

Lanop’s wide knowledge of industry-specific tax reliefs and in-depth counselling on tax saving and investment planning for individuals and corporations make us your true friend when planning for taxes. Give us a call. We will make your life easier. 

All types of tax investigations are handled at Lanop. Our expert chartered accountants offer competent advice on subjects such as COP 8 (Tax Avoidance), COP 9 (Suspected Serious Fraud), HMRC Nudge Letter, Disclosure Facilities, fraud, VAT and PAYE investigations. 


Importing from the EU to the UK? Read this first!

Importing from the EU to the UK? Read…

If you wish to import from the EU after the end of…

Here Are All The Changes In VAT After Brexit!

Here Are All The Changes In VAT After…

In this section, we will look at how the VAT will be…

The Advantages of Voluntary VAT Registration for Small Business

The Advantages of Voluntary VAT Registration for Small…

Value Added Tax (VAT) is the sales tax levied against goods and…

Get In Touch

Address: 389 Upper Richmond Rd, London SW15 5QL, United Kingdom.

We are here for you

Stay connected with us

Aurangzaib sir

Aurangzaib Chawla

At Lanop, I am providing my services as the Managing Partner and Tax Specialist. My expertise includes helping medium and small-scale businesses in their accountancy and legal requirements, business start-up support, strategic review, payroll system review and implementation, VAT and tax compliance to cloud accounting. I am also an expert in financial reporting, identifying and monitoring risks, strategic business development, client retention, market acquisition and deals closure by carefully planning my sales cycle. 


Muhammad Sohaib

Senior Financial Accountant


I am a qualified finance professional with over 8 years of diverse experience and proven track-record in accounting and finance, tax planning, preparing annual accounts, dealing with tax investigations and strong customer relationship management. I have also served in the higher education institutes to teach financial accounting and financial management to undergraduates and MBA students. Apart from my core expertise I am also leading and managing Lanop’s team of client managers across continents. I am also responsible for the quality control of the work and the provision of streamlined services to all our customers. Apart from work, I am a real Tennis enthusiast & sports player at heart.

Free Consultation Call

Book A Free Call Worth £100

Enter Your Name & Email Address for a Free Consultation