Business owners
Protect and grow your business. Prepare your legacy to care for you and your loved ones. Find out how we support business owners, self-employed and entrepreneurs in enhancing their companies with financial planning.
Business owners
You may be a business owner, an entrepreneur, or self-employed, and in need of financial planning to ensure your business is secure and reflective of your aspirations.
After spending tireless hours building your legacy, you should get your time back and accomplish more with our business financial planning service.
You may have questions such as:
- If I sell my business, will the proceeds deliver the retirement I see for myself?
- What would happen to my business if I were to pass away / become critically ill?
- What tax deductions am I eligible for as a business owner or self-employed individual?
- What types of insurance would I need to protect my business?
- Where would I start with business succession planning?
- Do I need to set up my own pension if I’m self-employed?
- What strategies will be best for growing my business?
There can be a lot to think about when you have a business to consider alongside your retirement. Tell us your concerns so we can create a plan that pulls everything together and helps you visualise how your finances will shape your future.
Want to get started?
What to expect
When we begin working together, the main thing you will need to establish is the current position you’re currently in and where this sits in relation to the position you want to be in. You can highlight areas of concern as we work to cover a range of solutions.
We provide tailored financial plans and include key areas such as:
- Key person insurance: If there is a person who you would consider to be central to the day-to-day smooth operation of your business, have you ever thought about what would happen if they became critically ill, or passed away? *Research has found that 94% of business had at least one key person and 52% stated that the death of this person was the main risk to their business. Key person insurance helps your business recover a lot quicker if this were to happen.
- Relevant life insurance policies: This can provide death-in-service benefits to the families of employees if they were to pass away or become terminally ill. These are generally tax-efficient and tailored to each individual employee. It’s a good way to retain employees and give them peace of mind to be working for a company that offers such.
- Co-shareholder protection: Directors, partners, and shareholders will be covered by this. It protects your interests as a business owner in the event of an untimely death or illness of a co-owner or shareholder. It can also help to protect the continuity of your business and will minimise the financial implications for the remaining owners.
Every possible protection, solution, and strategy will be explored in detail by our expert financial planners and advisers, so that we can deliver the best recommendations for your business and for you as an individual.
Let’s delve further into the details. Contact our team to book a free consultation with one of our expert advisers today.
FAQs
What happens to my business when I die?
When you die, what happens to your business will depend on what you have in place. If you haven’t arranged anything, your business will automatically form a part of your estate. You do have the opportunity to plan for this if you wish to speak to a financial adviser. We can help you figure out what is best to put in place for yourself and your loved ones, whether this is for the business assets to go to your estate or for the business to continue and be passed down to your children through a will or shareholders agreement.
Is it worth paying into a pension if self-employed?
The answer is yes, it is worth paying into a pension if you are self-employed. Everyone needs money for their retirement, whether you’re self-employed or you work for somebody. Workplace pensions tend to be put in place when working for businesses/organisations. You will be responsible for setting up and contributing to your pension if you’re self-employed; if you’re unsure what provider is best, our financial advisers would be happy to help you.
What tax deductions am I eligible for as a business owner or self-employed individual?
The list of tax deductions you’re eligible for as a business owner or self-employed individual is quite lengthy. It includes things like stationary, insurance, uniform, heating and lighting in your place of business. As long as they’re allowable expenses, you will be eligible to deduct these costs when you’re working out your taxable profit.
This information is not intended to be, and cannot be relied upon, as financial advice. Capital is at risk.
Our Services
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Book a review of your finances with a specialist financial planner. Alternatively, call us free on 0151 220 2619