At FAFS we recognised the importance of financial planning for businesses. Many small successful businesses operate with only a handful of partners or directors who are busy in the running of the business to ensure that it is a success. Also, with ever changing rules surrounding businesses such as work place pensions, business owners find themselves all to consumed with the administration of these changes as well as the running of the business. As a result, other equally critical issues that could impact on the business and sometimes disastrously, are so often overlooked.
Have you ever thought about how would your business cope if one of the partners was to pass away or become ill? How would it affect his shares or impact on the business? What if a key employee was to become ill and was critical to the running of the business? Could your business afford to keep on paying him a salary and how will this impact on company profits? At FAFS, we can help minimise such events impacting on the business.
Does your business have a pension scheme? From October 2012, employers who do not offer their employees access to a pension will have to automatically enrol all eligible employees into a new scheme called The National Employees Savings Trust (NEST). Many small businesses have no such schemes in place and are in fact breaking the rules and could face fines and other punitive measures.
At FAFS we take the time to understand your business, what your requirements are and can help you set up the right scheme for your business.
Please feel free to contact us for more information on the above or on all your Inheritance tax planning needs.
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First Alliance Financial Services
Millenium Bridge House
2 Lambeth Hill
0203 0123 237