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If you are a sole trader making a reasonable
living, a partner in a thriving profession or the director
of a successful company, if your present and future financial
security is not properly protected, then you are generally not
a happy person!
If you employ staff then it stands
to reason that their feelings are exactly the same.
As a business person you owe it to yourself,
your dependents and your employees to ensure that in the event
of something happening to you, that the business and its future
is not jeopardised in the event of your death or that of a co-directors
or a key employee, through the use of Key person and Partnership
or Shareholder protection.
Equally, in the event of something
happening to an employee which precludes them from continuing
in paid employment in the short, medium or long term, their
commitment to you and your business would be significantly enhanced
by the knowledge that their income was protected and secure
whatever happened.
Finally, there can be no doubt that
without some form of privately funded retirement plan in place,
one would face a very meagre retirement indeed. Whether that
additional funding comes from a Stakeholder, Personal or Corporately
funded source, or a combination of these, is immaterial. The
fact that one must plan for one's own retirement is an inescapable
fact. A business can gain considerably tax advantage from involvement
in funding retirement income for its employees, just as can
the individual self-employed owner, partner or sole trader.
We already
advise a number of companies on their employee benefit packages
covering all aspects of this subject.
Click
here to contact us
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