Financial advice for business owners, entrepreneurs and the self-employed
We understand the twin challenges of managing your business and personal finances, and that the two are inextricably linked. Our approach is to focus on the integration of both aspects of financial planning in order to maximise tax efficiency; protect your business; and advise on your eventual exit strategy.
Throughout, we manage your assets, savings, investments and pensions and give you a real time view of their performance via a dedicated financial portal that is accessible at any time, as convenient to you and the day-to-day running of your business.
It is easier to plan for the future if you know what your financial situation will look like. With the help of specialist software, we analyse your personal and business wealth together with assets and expenditure to create a projection of your finances. We also run through different scenarios - such as a change to your business model, or exit strategy - to understand their impact on your finances. We help to establish if you are on track to achieve the future you want and, if you are not, create a plan to help you get there.
Forecasting future finances
You may be relying on the sale of your business to fund your retirement, but it is sensible practice to make the most of the Government’s allowances and tax relief for pension contributions as well. We show you how much you can afford to pay into your pension; help you to make tax-efficient pension contributions through your company; and ensure that you are making the most of your annual and lifetime allowances
Pensions
Many people don’t have adequate cover in place for the many business risks that exist. Protecting against these can ensure the successful running of your company without any unnecessary risk to your business, personal or family wealth. This may include considering the appropriateness of shareholder protection, relevant life insurance, key person protection and loan protection.
Protecting your business
Business and personal investments
Whether you are making business or personal investments, we can help to do this and to ensure that you are investing in the most tax-efficient way. This could be to diversify risk by investing in areas away from your business, or to generate a regular income from the lump sum you receive upon the sale of your business.
You may not be planning to exit your business for many years to come. But whether you wish to sell your business or transfer ownership - or are unsure which option would be best - the earlier you start planning, the more success you will have when converting business success into personal wealth.
If you are planning to sell your business, we show you how much you may need to sell it for to achieve your personal financial goals, and when you may be in a position to do so. If you are passing on your business, we can help with the transition and consider your wider estate planning.
Whichever option you choose, we make sure you are using all of your tax allowances and reliefs before, during and after you leave the business - reducing the capital gains tax you pay, to ensure you benefit from as much of the sales proceeds as possible.
Exiting or selling your business
Estate planning and Inheritance Tax
Business assets do not form part of an estate for Inheritance tax purposes but if you sell your business and these assets become cash, they are subject to Inheritance Tax. We can help you put in place a plan to pass on your wealth in the most tax-efficient way.
Financial advice as an employee benefit
Offering independent financial advice to your staff as an employee benefit. We are workplace financial education specialists - visiting to give presentations on a range of financial subjects. We will also meet with staff individually for personal consultations, should they wish.
The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. The Financial Conduct Authority does not regulate Inheritance Tax Planning, Estate planning and Employee Benefits. Protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.