Building up a business isn’t easy, it takes great dedication and belief in what you are doing, not to speak of the long hours, financial worry and physical strain it can cause. However, those who are successful in their chosen path of running their own small, medium or large enterprise are generally very proud of their achievements and have a desire to ensure that the business continues to go from strength to strength.
While dealing with the day to day running of a business it is easy to forget how vulnerable the business might be. It can be difficult to see things objectively when you are so close to something and you may not realise what planning opportunities you are missing out on or risks you are taking. As a business owner or director you are an important asset with many important responsibilities. You should consider sitting down with an independent financial planner, who can help you understand the key areas of your business that may be at risk or benefit from better investment opportunities.
Tarvos Wealth have been providing independent financial advice to businesses in Kent for many years. The typical areas we advise on are:
Keyperson Protection – this provides a lump sum or income to the business in the event that a key individual dies or suffers severe ill health.
Shareholder or Partnership Protection – this provides peace of mind that the surviving partners or directors have the wherewithal to purchase the shares of a shareholder in the event of that shareholder’s death.
Protection for Business Debts – this makes sure that the Firm can repay the business loans or overdraft in the event of a partner’s or director’s death
Income Protection – ensure that the company can afford to pay key personnel in the case of long term illness or disability.
- Valuable protection solutions
- Comprehensive company pension planning & Auto-enrolment
- Corporate tax efficient investment strategies
Tax Efficient Business Investments
If you have excess cash in low interest paying accounts, are you making the best use of this money? Tarvos Wealth can help you make your money work harder for your business.
Where appropriate and working in conjunction with legal contacts, they can offer detailed tax planning advice on
- Inheritance tax and its implications for business owners
- Capital gains tax
- Company investments that are Corporation Tax efficient
With the new government rules on auto-enrolment now in force, companies are finding themselves now having a statutory requirement to have a suitable pension scheme in place for employees and make contributions on their behalf. Not only that, you have the responsibility of automatically enrolling each employee into the scheme and administering those that wish to opt-out of the scheme. For those people, you have to carry out the exercise again at regular intervals.
It is important that you get proper independent financial advice to ensure that the scheme in place meets these requirements and that you have the support going forward when administering the scheme.
Pension Advice For Executives & Management
If you are a company that needs pension advice for Executives & Management, Tarvos Wealth can provide the specialist pension advice for Executives & Management to ensure that you have in place the appropriate tax efficient investments and protections.
They can also advise on bespoke pension arrangements including SIPP‘s (Self-Invested Personal Pension), which can be used to purchase business premises or shares in your business.
It is important to plan to ensure that the pension lifetime allowance is not exceeded, as well as making sure that annual allowances are used effectively.
Advice For Your Staff
Tarvos Wealth can provide seminars or one-to-one discussions providing information to your staff on pensions or investments as required.
Some firms feel that offering staff access to an independent financial adviser is a service which they are happy to fund to ensure that staff are properly advised.