business protection

A Business, whether it be a Sole Trader, Partnership, Limited Company or PLC requires specialist financial advice to address its own distinctive needs, coupled with the needs of the business owners/operators and employees.

Liaising closely with the accountants of the business is essential to ensure that our understanding of the situation moving forward is such that any advice serves only to enhance the financial wellbeing of the business.

Accurate risk assessment, and a thorough knowledge of the ever changing market and legislation issues, identify the most cost effective and workable solutions, whilst at the same time empowering the business through "proactive" advice. Typical areas of concern to business include:

Directors Share Purchase

Funding (usually Life Assurance contracts) that provide the remaining director(s) with the funds (when they need them) to exercise the option to purchase a deceased director's shares from their estate/widow/er; thereby assisting in ensuring that control of the company stays with the remaining director(s) and that the widow/er receives financial return for the shares.

Note that contracts of this type should be accompanied by the appropriate Business Assurance Trusts and ideally a formal agreement between the directors.

Partnership Protection

Funding (usually Life Assurance contracts) that provide the remaining partner(s) with the funds (when they need them) to exercise the option to purchase a deceased partner's shares from their estate/widow/er; thereby assisting in ensuring that control of the business/firm stays with the remaining partner(s) and that the widow/er receives financial return for the deceased partner's share of the business.

Note that contracts of this type should be accompanied by the appropriate Business Assurance Trusts and ideally some form of agreement between the partners.

Key Person Assurance

A variety of contracts available to protect a business against loss of profits upon losing the services of a Key Person within the business. The loss could be through Death, Critical Illness or due to Long Term Absence through ill health. The sudden negative financial impact to the business could even be crippling.

Key Person Assurance removes that spectre, usually for reasonable cost, which under current legislation can be claimed as a business expense. However this last point should be considered carefully, as should identification of the correct type and amount of insurance for the job.

Pensions - For Business Owners / Directors

Pensions are a perfect way of minimising liability to Corporation Tax and/or Income Tax. Certain types of pensions are able to purchase commercial properties; this opens up many advantageous avenues for the business owner who is kept well informed and is astute enough to plan accordingly.

You are not certain to make a profit. You may make a loss. You may not get back the full amount you invested.

Investments

The provision of both on-shore and off-shore investments for the business that has funds in excess of operating requirements can be arranged.

This is a very complex area that requires expert handling to ensure that the business not only invests in areas and contracts that fit with its investment attitudes, but that also allows access to the funds (if required) should they be called upon unexpectedly by the business.

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