Tailored Corporate Financial Planning
Handling your business on a day to day basis comes with challenges and is very time consuming. Navigate Financial can be on hand to assist in your company’s corporate financial planning requirements, so you can focus on what keeps your business running.
Business Protection
Business protection insurance protects your business from the financial effects of key people becoming critically ill or passing away.
This area of corporate financial planning is often overlooked and can lead to uncertainty about the company’s future.
You have worked hard to build your business, let us help you protect it. Available for:
Partnerships and LLPs
Sole Traders
Shareholders and Key Employees
Key Person Cover
Key person insurance is a form of life insurance which benefits the business should the worst happen.
It is generally taken out as part of corporate financial planning to compensate the business for financial losses that would arise from the death or extended incapacity of the key individual(s).
These funds could be used for expenses such as the training of a replacement key person, compensating for loss of potential contracts, and covering the repayment of director loans, overdrafts, or investments.
There are two solutions for key persons protection:
Life of Another
The owner of the policy is the company and therefore not the person covered by it.
Own Life In Trust
This policy is owned by the named trustee(s).
Relevant Life Plans (RLP)
A Relevant Life Plan can provide a complete tax-free solution to life insurance for company directors, where both the premiums and the lump-sum payment in the event of a claim are tax-free. The premiums are not classed as a benefit-in-kind and, if the policy is written into a discretionary trust, then any payout is not subject to inheritance tax.
Unlike some Group Death in Service schemes (DIS), Relevant Life Plans are not registered under pension legislation, so the benefits do not count towards an individual’s pension lump-sum and Death Benefit Allowance.
Shareholder Protection
Providing pace of mind that remaining shareholders could retain control of the business should another shareholder pass.
Without this cover, your business could be at risk of its ownership being weakened.
Shareholder protection is achieved by:
Directors’ Life Insurance Policies
A life insurance policy is taken out for each director to the value of their shares.
Placing Policies In Trust
Placing the life insurance policies for directors in trust ensures that any payout is available to the remaining shareholders without any tax implications.
Cross Option Agreement
Setting up a Cross Option Agreement between the shareholders ensures that if the options are exercised, the holder of the shares must sell them, and the other directors must buy them.
Workplace Pensions / Auto Enrolment
Since 2016, employers have a legal requirement to enrol their staff into a workplace pension scheme.
New Scheme
If you need help to remain compliant with constantly changing requirements, we are here to advise and set up your scheme.
Current Scheme Review
If you already have your workplace pension in place, are you getting the right service for your business?
Transform Your Corporate Financial Strategy
Allow us to review your current situation, along with any existing policies and plans, to ensure your corporate financial planning protects your business and keeps you compliant with regulations.
