Business Protection and Succession Planning
The importance of business protection is often overlooked. It can be vital in helping business owners to plan for the unexpected, by providing cover to ensure the business can continue following the loss of a key employee or business owner through death, critical illness or temporary disablement.
There are different types of business protection available and how the arrangement is set up will depend on the type of business and its specific needs.
All businesses should give consideration to making a succession plan. Without this the business is exposed to risk. For example, there is the risk of the business failing if the owner is no longer around or surviving shareholders or partners ending up with a new partner, who may be unfamiliar with how the business is run.
We are specialists in this area, meaning that we are able to identify the risks your company may be exposed to, as well as being able to advise you on Inheritance Tax and Capital Gains Tax strategies when you decide to sell.
- Tax planning and some areas of commercial financial planning are not regulated by the Financial Conduct Authority