Our Business Financial Advice Covers Partnerships and Limited Companies
Our Range of Business Financial Advice Covers Businesses, Their Owners, Staff and Families
We know that managing businesses, whatever their status, is hard work. Access to funds for cashflow purposes is a key priority. Our role as independent financial advisers giving business financial advice is to help build assets through a strong financial plan linked to your long term objectives.
Our business financial advice includes:
- getting pension schemes set-up, fine-tuned and reviews of investment fund choices
- getting business owners and their family properly protected with life cover, critical illness cover, income protection, and private medical insurance
- getting succession plans written - keeping your business running by remaining shareholders or partners, when there has been the death or serious illness of an owner is critical
- putting the right general insurance in place for business activities (buildings, equipment, public and employer's liability, to name but a few)
- covering the risk of key employees suffering a serious illness or worse
You can also help protect your company’s financial stability in the event you lose a business partner or shareholder and want or need to repay outstanding business loans, some of which may have personal guarantees or have to be repaid when somebody dies, with the right loan protection arrangements.
Our experienced, practical and friendly independent business financial advice is often a key to a business protecting itself in the event of difficult times.
Business Financial Advice for Partners
Our business financial advice for partners revolves around it being protected should untoward events occur. Whatever the type of situation your business is in, contact us to talk through your problems and see if we can provide tailored solutions!
If a business partner dies or suffers a severe illness, their share of the business will usually pass to their beneficiaries - usually family members rather than anyone within the business. To regain full control, the surviving partners will need to buy the deceased‘s or incapacitated individual’s share of the business. Many businesses will not have the available capital to do this, but with partnership cover, a cash lump sum provides the capital to enable the surviving partners to buy their share of the business.
We can give great business financial advice for partners giving reassuring safety nets.
Our business financial advice for shareholders can be tailored to support firms, with the varying needs of shareholders, directors and staff.
If a shareholder dies or suffers a severe illness, their share of the business will usually pass to their beneficiaries, i.e. family members, which might well be outside the business. To regain full control, the surviving business owners will need to buy the deceased‘s or incapacitated individual’s share of the business. A cash lump sum is paid if a business owner dies or suffers a severe illness. This lump sum provides the capital to enable the surviving business owners to buy the deceased’s or incapacitated individual’s share of the business – allowing them to keep control and minimise disruption to the business.
Our business financial advice is entirely tailored around shareholders, their families, staff and the needs of the firms themselves.
Staff Death In Service Schemes and Relevant Life Policies
As well as making the overall cost of life insurance cheaper, with relevant life, there can be tax benefits for both the employer and employee.
The employer benefits from; corporation tax relief (so long as the premiums are wholly and exclusively for the purposes of the business) and no National Insurance (NI) contributions.
The employee benefits are; no NI contributions to pay on the policy payments paid to fund the relevant life policy, they can benefit from their employer making the policy payments and these are not subject to tax as a benefit in kind or remuneration, policy payments and benefits don’t count towards the annual allowance or the pension lifetime allowance, and they can generally provide their family with a tax-free lump sum if the worst happens to them.
Also, the claim amount isn’t subject to any income tax, corporation tax or capital gains tax implications, where the relevant life policy is held in a trust.
You can save nearly 50% in tax compared to an ordinary life policy while also giving your employee’s a comprehensive benefits package through access to our exclusive discounts and rewards partners.
Our business financial advice includes in depth analysis to support staff.
We Can Help!
Chestnut has an absolute passion for helping local firms flourish with its business financial advice, including financial advice for self employed businesses!
Whilst working with accountants and lawyers is essential for specialist knowledge and experience, our clients have become quite used to working with ourselves to make sure they are properly insured if the worst events happen to their buildings, their business, their staff, and themselves (as business owners).
From Grantham, to Lincoln, up to Louth, round to Mansfield and Nottingham and up to Newark and Sleaford, we have covered lots of firms and made a lot of friends!
Knowledge and expertise
Because business and pensions planning are much more complex than we’re able to explain here, rest assured, we use our skills and expertise to stay up-to-date with current thinking, changing legislation and new products to ensure you receive only the highest quality advice.
Please get In Touch
We welcome calls to our office. Our number is 01522 788887
You can email us at - email@example.com
Or please complete this contact form and we will get back to you as soon as possible!
The value of pensions and the income from them can fall as well as rise. You may get back less than you invested.