We understand how busy you are and how hard it is to make time to focus on planning for the financial future of your organisation, whether this means tax efficient planning, managing your commercial property, pension advice or employee incentives.
This is where we can help.
We can help you provide the best employee benefits that meet your business objectives. We can help you to set up your workplace pension scheme to comply with your auto enrolment regulations, support you in finding the right commercial mortgage and can work with you to ensure your employees understand and value the range of benefits you offer.
We aim to work with you as an extension of your team, offering an innovative service that meets your specific needs with practical and cost effective solutions.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments.
We’ll work with you to review your existing offering and evaluate how the scheme is meeting your objectives. We can also support you in finding an alternative option if the review indicates that this is necessary.
All of our advice will ensure you meet your auto-enrolment obligations.
It has long been recognised that most people aren’t saving enough for retirement and, as a result, may not be able to live comfortably on their State pension alone.
To combat the increasing strain on the State benefit system, in 2012 the UK Government introduced one of the largest-ever shakeups in the history of UK pensions in a bid to provide wider access to pensions savings for all.
Auto-enrolment makes it compulsory for employers to automatically enrol eligible workers into a pension scheme and then pay into the scheme on their behalf.
By October 2018 all eligible employees must be enrolled into a workplace pension scheme. The auto-enrolment process started with the UK’s largest employers in October 2012 and has been gradually rolling out ever since.
As an employer, you need to make sure you have a workplace pension scheme in place by your staging date. You also have a legal responsibility to communicate with your employees, informing them about; the scheme you have chosen, how contributions work, how to opt in or out and when they will be affected.
When it comes to contributions you have a legal obligation to contribute a minimum of 8%, of which at least 3% has to be contributed from the employer, and the remaining 5% from the employee.
Offering an enhanced pension scheme that benefits those with more complex financial positions, higher tax liabilities and those who are more likely to be approaching retirement could make your business more attractive to current and prospective employees.
As your adviser, we will work with you to identify the best scheme that meets the needs of your key people and will help you implement this as part of your wider pension plans.
If you think about your core team and the skills and more importantly knowledge of your business and its inner workings that these key individuals have, what would you do if you unexpectedly lost a member of the team to illness or sudden death? Are they replaceable and at what cost to your business?
Key person insurance policies can help you to protect your business against such eventualities. We will work with you to identify the key people that represent a potential risk to your business if they were no longer around and will help you to mitigate this risk as far as possible.
There could be significant financial implications on your bottom line if the beneficiaries inheriting the shares have an immediate need for the funds. Similarly, remaining shareholders may wish to purchase the shares but aren’t in a positon to do so.
Whilst planning for the unexpected may form part of your businesses articles of association, depending on the specific circumstances of your business, it may be wise to have a separate document that clearly outlines what would happen in the face of the unexpected.