When you are busy running a business on a day-to-day basis, often you haven’t the time to really look too far ahead. One of the services we offer is to help business people look at their corporate financial planning. We have the time and expertise to review financial areas that could help protect the company and benefit your business in the long term. Why not make it your business to have an informal chat with one of our advisers?
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Automatic enrolment has ‘changed the UK workplace forever,’ according to the National Association of Pension Funds (October 2013). The Department for Work and Pensions (DWP) estimates that the new rules ‘could almost double private pension income by the time people now starting work reach their retirement.’ No employer – however small – can afford to ignore these changes.
What happens to a business if its owner or co-owner dies or falls seriously ill? Much will depend on the type of business – sole trader, partnership or limited company – but unless there has been some advance planning, the chances are that there will be disruption, arguments and the strong possibility that all or part of the business will end up in the wrong hands.
So if you are a business owner, business succession planning and insurance is important. It is quite simply the process of planning for what you want to happen if you (or your co-owner, if you have one) were to die or fall seriously ill.
If you find more and more of your income is taxed at over the basic rate, you are not alone. The point at which you start to pay 40% income tax is £43,000 for 2016/17, which is lower than six years ago – it was £43,875 in 2010/11. You may also be feeling the impact of the tax on child benefit, which applies to those earning over £50,000, and you may be subject to the withdrawal of the personal allowance on income over £100,000.
Understood our needs
Our Polestar adviser understood our needs. He really listened and heard what we asked. Polestar always had a reply quickly even if it was to tell me how long it would take for action.
— Hilary and KeithMaidenhead