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Enterprises
Thinking about your business
Working in partnership to source and establish tailored solutions for your developing business strategies
Challenge
We appreciate that no two businesses are the same, therefore we are passionate about making it our business to fully understand your business. We work in partnership with you and your other company advisers such as your accountant or solicitor, to establish and develop a long term professional working relationship, and to assist you in achieving your objectives and ambitions.
We will establish the ongoing interaction in a business between Shareholders, Directors, Senior Management and Employees. We also understand the differing needs these groups of people have, and the vital contribution they make to the business and highlight through questioning and analysis of any shortfalls that could affect your plans and highlight areas that you may not have given consideration to previously. We are able to source an appropriate solution for your business and for every employee, a benefit of being totally independent and having access to the whole of the market.
As an employer, you may have obligations to provide pension arrangements for your employees, but as your business’s success is built around the need to attract, motivate, retain and reward the best employees as cost effectively as possible, you may wish to explore other company funded benefits.
Below are some scenarios you may not have had a chance to consider:
Protection of Key persons & employees
- How would the profits of your business be affected if your Sales director did not turn up at the client presentation?
- How would the business profits be affected if your production manager was off work for 8 months?
- How would the business manage if profits were not covering the debt repayments?
Contingency planning, Shareholder & Partnership
- Can you raise the capital needed to buy out your fellow shareholder?
- Would your spouse be able to run your business?
- Who would receive the life cover proceeds in the event of a death if the trust forms have not been completed or written incorrectly?
Income Protection for principals & employees
- Can you afford for your business to pay an income to a member of staff for doing no work?
- Would you want to risk losing a key member of staff if your business could not afford to pay him whilst off sick with illness, accident or a critical illness.
- Can you manage to pay your personal bills if your business cannot afford to keep paying you an income whilst off work?
Loan/debt protection
- How would you feel if the business was unable to meet loan repayments?
- How would the business repay a debt in full if demanded to by the lender?
- How would your family settle an outstanding business debt in the event of your illness or death?
Retirement & Tax Planning
- How would you like to work 5 years longer than planned because your pension fund was not large enough ?
- How would you feel at retirement if the income you expected to receive was actually 25% less due to unexpected fund value reduction?
- How would the business like to reduce the amount of tax it pays?
Employee Benefits, Group Pensions, Auto enrolment, Death in service
- How would your business manage to pay a DAILY FINE (currently £500 per day for between 5 and 49 employees, more for larger businesses) as you do not have an auto enrolment compliant scheme in place by your Staging Date?
- What is a Staging date; an Eligible jobholder; auto enrolment?
- How long would the business be willing to pay an income to the family of a deceased member of staff?
Corporate Savings & Investments
- How do you feel about your business monies not keeping pace with inflation?
- How are you going to achieve future business needs or purchases without a workable savings strategy?
- How are you going to be able to buy out your business partner?
Inheritance Tax Planning
(The Financial Conduct Authority (FCA) do not regulate Inheritance Tax Planning, Tax and Trusts)
- How will the business continue in the event of your death if you have not allocated a secondary signatory ?
- How are your beneficiaries going to manage if they cannot sell the business for a fair price?
Wills
- How will the business manage if you have not passed your shares on correctly to your chosen beneficiaries?
- How will your beneficiaries manage if your assets are frozen?