Why You Need To Start Your Pension, And Why It’s Not So Scary
- 28th February 2022
Business financial planning is about more cashflow projections and balance sheets, employee benefits and pension schemes. It is about making sure you are taking every opportunity to be in the best position to achieve your business goals, protect your business, maximise your tax reliefs and provide for your retirement. We at MyLife Financial are her to help you every step of the way.
As a business owner, you achieved your success by taking a very hands on approach to running your business. Maintaining full control over your business gives you peace of mind as well as a lot of headaches and sleepless nights but at the end of the day nobody cares about your business more than you.
Inevitably your business and personal life become inseparable We provide a comprehensive approach that takes account of your circumstances. Our tailored service means that you can plan for the future in the knowledge that you and your business are looked after.
Successful companies build healthy profitable balance sheets, so the directors and partners need to decided need to decided what to do with the accumulated assets
We can help you answer these questions, and advise on a range of benefits available for those who wish to maximise their pension contributions and tax relief.
Would you maintain full control over your company?
What is Shareholder Protection?
Shareholder or Partnership Protection is a life insurance plan taken out on the life of each director or partner of a company. A company may take out a shareholder protection plan at any stage during its business lifetime. The company will pay a premium based on the level of cover required and a given value of each director’s shareholding within the business. Should the unexpected death of a director happen the company’s Shareholder Protection plan will pay out a lump sum. This lump sum can be used to buy back the deceased directors’ shareholding from their next of kin.
Benefits of Shareholder Protection
• The company directors know they will be able to keep control of their business.
• No need for remaining directors to raise personal funds.
• The deceased directors next of kin is not obliged to become involved in the business.
• The remaining directors know they will have business stability and continuity.
• Shareholder Protection Insurance can also provide for serious illness cover.
We’ll call you back to discuss your situation.