Protection
Business Protection
Protect your business if a key person dies or becomes seriously ill. Key person insurance, relevant life policies and shareholder protection, all structured to be tax-efficient.
Why Business Protection?
If someone critical to your business dies or becomes seriously ill, the knock-on effects can be devastating. Lost revenue, broken client relationships, recruitment costs and outstanding debts can all threaten the company's survival.
Business protection policies give you the funds to keep things running during a rough patch, buy out a deceased partner's share, or repay business loans that were personally guaranteed.
We work with your accountant and solicitor to put protection in place that's both solid and tax-efficient. Many business protection premiums qualify as an allowable expense for corporation tax.
Types of Business Protection
Key Person Insurance
Pays the business a lump sum if a key person dies or is diagnosed with a critical illness. Covers lost profits, recruitment costs and loan repayments. Premiums are usually a business expense.
Relevant Life Policy
A tax-efficient way for limited companies to provide life insurance for directors and staff. The company pays the premiums and they're not treated as a benefit-in-kind. No income tax, no NI, no inheritance tax.
Shareholder Protection
Makes sure the surviving shareholders can buy the deceased's share at a fair price, keeping control of the company. Works alongside a cross-option agreement drawn up by your solicitor.
Tax-Efficient Cover for Directors
Relevant life policies are one of the best perks a limited company director can arrange. The company pays the premiums as a business expense, with no benefit-in-kind charge and no impact on your pension annual allowance. The payout is free of income tax, capital gains tax and inheritance tax.