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Employee Retention - offering benefits to retain and attract valued staff members.

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• Group Insurance Benefits

  • Offering group employee benefits such as sick pay (group income protection), death-in-service schemes, or group Private Medical Insurance.

  • These are benefits that could be offered to all employees, or select groups such as senior staff members.

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• Pension Scheme Management

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• Financial Advice Sessions​​

  • Offering to pay for employees to have access to a financial adviser to review their financial standings.​

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Business Continuity - when ill health threatens the strength of a business.

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• Director/Partner Shareholder Protection​

  • ​In the event of a director/partner's death, ​​this arrangement can ensure the surviving directors/partners are able to continue running the business, by purchasing the deceased director/partner's share of the business.

  • The owners can retain control of the business, whilst purchasing the share of the business from the estate of the deceased director/partner, ensuring that the beneficiaries of the estate are not financial disadvantaged. ​

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• Key Person Insurance

  • Key Person protection can protect a business from the detrimental financial impact of losing a person who is integral to a business’s operations. The policy pays out a cash lump sum to the business in the event of the key person dying, becoming terminally ill or being diagnosed with a critical illness.​

  • Money paid out by the policy is not earmarked for a specific purpose, so the business can put the money to any use necessary. Examples of this could be to help replace the loss of profits following the key person’s absence, or to fund the recruitment and training involved in replacing the key person.

  • A Key Person can be:

    • A Business Owner​

    • A Director or Senior Manager

    • A technical specialist with expert knowledge of the business’s products or services

    • A salesperson who drives a large part of the business’s profits

    • A staff member who has long-lasting relationships with major clients

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Financial Improvement / Tax Efficiency

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• Making use of excess cash within a business

  • Companies with surplus cash held within a business will no doubt be familiar with the unremarkable interest rates currently available from corporate current accounts.

  • Cash which does not form part of the day-to-day business cashflow, could be invested in collective investment funds, to potentially expose the business to greater investment returns (recommended minimum investment timeframe of 5-7 years.

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• Reviewing Remuneration Structures

  • Business owners have an array of options when extracting cash from a business:

    • Salary

    • Dividends

    • Pension Contributions

    • P11D Benefits​​

  • It can be beneficial to review the way you pay yourself, with the potential to improve your personal and corporate tax positions.

  • If you are looking to take out a mortgage within the next 12-36 months, it can also be useful to consult with an adviser to ensure that the make-up of your personal income could provide you with the mortgage options you need...​

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• Managing Tax-Efficiency on the sale/inheritance of a business

  • When selling/exiting a business, there are a number of tax reliefs and allowances to which you could be entitled. With forward planning, it is possible to structure the business assets, and their disposal, in such a way as to maximise the use of these valuable tax advantages.​

  • Inheriting a business can also carry tax complications. As with a business sale/exit, is important to plan ahead to avoid costly tax mistakes which perhaps could have been avoided.

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Please contact me for more information about this service.

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