Business Planning
Key Person
Assurance
Does your
business have a key person upon whom a significant part of your revenue
depends, and who would be expensive and problematic to replace?
- Managing Director?
- Top Sales Consultant?
- Head of Research and Development?
Key Person
Assurance allows your company to insure against the loss of revenue that
the unexpected demise of a key person would cause.
Directorship
Assurance
Should one
of your co-directors die unexpectedly, his or her shares will normally pass
to the surviving spouse/Civil Partner, or a beneficiary in their Will. At
this point you lose a degree of control, and risk losing further control if
the shares are in turn passed on to a third party, perhaps unknown to you.
Director
Share Purchase Protection allows directors to protect their business
interests by making a sum available equal to the value of the deceased
party’s shares. A Cross Option agreement compels the beneficiary of the
shares to sell them back to the company, thereby bringing control back to
the original directors, and restoring freedom of choice in their selection
of a replacement.
Retirement
Planning
Pension
funding for staff has never been more relevant, with failure to offer
Stakeholder schemes to employees bringing potential fines of up to £50,000.
However, companies with fewer than 5 employees earning above the National
Insurance lower earnings limit may be exempt. Please use the contact form to find out more.
Directors
face a bewildering choice when it comes to planning their own retirement,
with companies offering Self Invested Pension Plans (SIPPs), Small Self
Administered Schemes (SSASs), and Personal Pension Plans (PPPs). Each
choice carries with it a difference of contribution and taxation treatment.
Guidance in this area is therefore essential, as there is considerably more
to consider than just the past performance of the pension scheme provider.
And on top of that, major changes came into force in 2006, bringing a raft
of challenges and opportunities for companies and directors.
Please use
our contact us form to obtain further
information.
