For Businesses
Financial planning and benefits for businesses
We help several owner managed businesses, contractors with their own limited companies and small/medium sized employers with their financial planning and benefits.
Business Assurance
People are often the most important asset of the business but in many businesses the key people are not protected should they suffer from a critical illness or loss of life. As well as this being an emotional time, the business can also be put under additional financial pressure and having the right protection policy in place could ease this burden and give the business breathing space to ensure that the right replacement is found during this difficult time.
Having the right shareholder protection insurance in place means that, should a shareholder die or suffer from a critical illness, a cash sum would be available to the other shareholders, meaning they could quickly buy the affected shareholder’s shares. The affected shareholder's family would receive their part of the inheritance quickly and there would be minimum disruption to the company.
Business loans or capital injections from external investors can also be protected and may indeed be insisted on. Policy premiums can vary widely, so contact us to see if we can recommend a more suitable or competitive option for the business.
Extraction of Company Profits for Business Owners
There are several different options, such as salary v dividends v pension contributions scenarios, and each has its own advantages and disadvantages. We talk you through the various options available and recommend the best solution. We will often work with your accountant to do this as we are not tax advisers.
Employee Benefits
An effective strategy balances the needs of the employees with the employers desire to attract, motivate, retain and look after the employees as cost effectively as possible. Monetary reward alone is not always a factor in motivating or attracting an employee and many employees hold benefits such as pensions, the ability to have a good work/life balance, etc, in equal regard.
We work with small and medium sized companies to design and implement bespoke benefit solutions, then manage, review and communicate these benefits (such as pensions, life cover, income protection and medical insurance schemes) to employees, to ensure they understand what the company has generously provided. This ensures the company gains the most from its benefit spend.
As well as the design and implementation of new schemes, existing schemes can also be taken over. Existing benefits will be reviewed to ensure that they still meet the needs of the business and a communication exercise can be agreed if necessary.
We can also assist with the harmonisation of benefits following a merger or acquisition.
More Questions?
If you have any questions, please feel free to drop us a line any time or call us on: 0131 510 1971
(Edinburgh) or 01383 630 003
(Fife).
Your Data
The General Data Protection Regulation (GDPR) came into law in the UK on May 25th, 2018. It replaces the 1998 Data Protection Act and introduces new rules on privacy notices, as well as processing and safeguarding personal data.
Read More.
