Corporate financial planning advice
At Principle First we can deliver bespoke corporate financial advice to suit the needs and requirements of your firm, no matter what size. We advice many firms throughout the UK, on suitable employee benefits schemes, group pension schemes as well as Director and Partner financial planning.
No matter what size your business is, there are always areas of corporate financial advice that will protect and help your business grow.
All our private clients get access to our online system where they can view up to date information on their pensions, investments, insurance policies and much, much more. We also offer this to corporate client employees. Gone are the days when employees will take up the time of the Human Resource Department when looking for up to date valuations on their pensions. Each employee can now log on, and get this information themselves.
Throughout our website, you can view details on all the areas of corporate financial planning, which is crucial to your business. You can review the advantages of various schemes and the tax advantages of offering your directors, managers, or staff suitable employee benefits, to promote employee loyalty and decrease staff turnover.
Here are a couple of examples of corporate financial advice we have offered corporate clients.
Example One: A small engineering firm with 2 partners, and 5 employees.
After discussing the partners’ concerns we advised them to set up a cross option partnership agreement, coupled with a joint life policy. In the event of either partner dying, this agreement would allow the remaining business partner to purchase the 50% of the business from the deceased partner’s spouse. This would allow each partner’s wife to walk away from the business with the agreed cash amount, and would allow the remaining partner to have total control of the firm.
The firm was a specialist engineering firm with a highly skilled workforce. In order to improve the package for employees, the firm decided to commence a group life policy to provide life cover equal to 3 times’ salary for each individual. As this was a group plan, the cost was relatively low and was a tax deductable expense to the firm.
Example Two: A limited company with 3 employees, of which 2 were directors.
The 2 directors of this firm approached Principle First to discuss Shareholder Protection. The firm also had a large amount of money coming into the business that would result in a large corporation tax bill.
The third individual working in the firm was a key individual. The directors in the firm made large tax deductable pension contributions through a new Directors’ company pension scheme, in order to take the funds from the firm without paying Dividend Tax. They also made pension contributions to the other company employee, all of which were tax deductable. The firm also commenced a keyman policy to cover the cost of employee cover for the third employee, if unable to work due to accident and sickness.
