Financial Protection That Helps Your Business
As someone who runs their own business, the idea of planning ahead will certainly be nothing new to you. You probably do it everyday as you lead your business forward. But have you considered what would happen if you lost the most valuable asset your business has – its key people?
How would your business cope if;
-
The Director who stands as guarantor for your loans was to suffer a serious illness, or even die?
-
A key person in your business was unable to work as a result of a long-term illness?
-
A major shareholder dies and left their holding to their heirs who know nothing, or little, about the business?
That’s why it’s so important to consider making plans to help protect your business against the financial consequences of these unforeseen events.
We can help you plan so that losing a key person doesn’t have to mean financial disaster for your business and that making these arrangements can be done with the minimum of fuss.
So why not give us a call on: 01633 247 700 to arrange a time for us to review your circumstances and discuss ways to help protect your business from the impact of losing its key people.
LET THE TAXMAN HELP PAY FOR YOUR LIFE ASSURANCE:
Are you a company director? Do you have life insurance in place to protect your family?
If so you could be paying an unnecessary tax penalty. If you pay for this cover from your own bank account you will be paying from post-tax income and if you are paying from the business account you will probably be taxed on the payment as if it were income.
Larger companies can avoid this by introducing 'group death in service cover'. This is a highly tax-efficient way of providing life insurance, but is not generally available for smaller companies.
However, recent changes in legislation have allowed small companies to benefit from this arrangement by taking out 'relevant life policies'. These can be written on an individual basis so are available to all companies no matter how small.
Please click on the links below for further information:
Warning: you are now departing from the regulated site of Sweetland Associates Ltd. Neither Sweetland Associates Ltd nor our associated network has any responsibilty or control over the content or the accuracy of the information found within the page or pages you are about to access.