Most small to medium sized firms are unprepared in some areas of financial planning.

Many business owners focus on running and growing their businesses but spend little time ensuring that both their business and its key people (including themselves!) are adequately protected in the event of illness or death. 

We believe that business owners should fund for a comfortable retirement for themselves as part of their profit extraction strategy.  Many owners believe that their business is their pension, which we would hope to be the case.  However, company pension contributions can offer an extremely tax-efficient means of extracting profits and can be useful in diversifying risk away from the business, or even used, in certain circumstances, to help the business.

Employee benefit provisions (primarily pension and death/disability insurance) are also an integral part of many employers’ remuneration structures, and can be used to attract, retain and reward employees. 

At a minimum, most UK Employers are, of course, now required to comply with the government’s ‘Auto-enrolment’ requirements by providing an adequately-funded Qualifying Workplace Pension.   

Fitzallan is happy to advise on the best solutions for your business.