Corporate Advice

Corporate Financial Planning

It goes without saying that businesses require specialist financial planning advice.

Too many businesses leave this aspect of their business to chance risking their business in the process.

Expertise is needed to plan around corporate tax requirements and any implications that arise. Companies have many specialist needs including business protection, partnership & key person protection and employee benefit schemes. Contact us on 0330 999 8877 to arrange a full business financial planning review.

Business Continuity Planning

Many small yet successful businesses operate as a partnership of one, two or more individuals, each one of which often brings a unique and valuable skill to the table.

If one of the partners dies, his share of the partnership or company passes on to his estate, often a surviving spouse or children. Technically speaking, if the business is a partnership, the partnership is dissolved, which may not be convenient to the surviving partners. If the business is a limited company, the surviving beneficiaries will inherit the deceased shares, and in so doing, will own part of and possibly even gain a controlling influence over the remaining business, but without necessarily having the knowledge or skills to contribute.

It is often in the interest of all parties to put in place an agreement that allows the surviving partners or shareholders of a company to 'buy out' the interest of the deceased partner/shareholder. Such an arrangement can provide the deceased heirs with a cash lump sum equivalent to their inherited share, whilst returning ownership and control of the business to the surviving business. There are a number of ways of doing this, including buy and sell agreements, and cross option agreements. The most suitable option will depend upon your company's circumstances and those of its potential beneficiaries.

Relevant Life Plan

A Relevant Life Plan is a death-in-service benefit taken out by a company on behalf of an employee.

Key Person Insurance

Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.

Partnership Protection

One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.

Shareholder Protection

In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder