Business Client Solutions For You...

Relevant Life Policy Advice...

relevantLifeIconBigOver the last few years I have helped many company directors take advantage of the relevant life policy. In brief it is life insurance that can be paid for by your limited company. As there is no benefit in kind issues the policy will save around 36% for a basic rate tax payer and around 49% for a higher rate tax payer. You can use 2 of my tools either the relevant life policy savings calculator or the relevant life maximum cover allowed tools to help you work out how much you can save.
Pensions for Company Directors...

pension tax reliefFor company directors that are approaching the higher rate tax threshold and even those on basic rate income tax a pension that is paid for by the company offers many tax advantages. For company directors instead of paying 40% tax on the income instead they can have the limited company pay into a pension for them. The pension contribution is classed as a legitimate business expense. If the company director instead takes the income and pays the tax then they can instead contribute to a pensions from their own income. However in this case the 20% tax relief is added upfront and the extra 20% is claimed back on the directors tax return.
The value of the investment can go down as well as up and you may not get back as much as you put in.

Key Person Cover...

key person insuranceKey person cover is sometimes also called key man insurance. It is designed to ensure that a business can continue to keep running in the event that one of their key employees dies, gets a critical illness or becomes ill. Various different solutions exist such as income protections for a key person or life insurance for a key person. There is also quite complex rules around whether or not the monthly premiums can be claimed as a business expense. For this reason it is best to get proper financial advice from an expert in business protection insurance.
Shareholder Protection Policies...

shareholder protectionIf a shareholder dies or gets a critical illness this can have a severe impact on a business. There are several reasons why a business should insure the shareholders. Firstly if a shareholder dies then typically the remaining shareholders will not have the funds to purchase from the shareholders spouse. Therefore the spouse may be forced to take part in the business or sell the shares to a competitor. In this situation getting a fair price for the shares is often not possible to shareholder protection provides the funds to the outstanding shareholder to allow them to purchase the shares at a fair price.

Executive Income Protection...

executive income protectionThese type of policies are quite rarely used as most financial advisers do not know about them. Those who have heard of them often do not understand how they work. In addition only a small number of provider offer executive income protection insurance. Basically the company owns and pays for the plan on the life of a company director. If the director becomes ill or has an accident and cannot carry on with their job the policy pays a monthly income to the business. The business can use the insurance premiums as a business expense but upon a claim the sum assured is classed as a trading receipt and ultimately taxed when paid to the director.
Business Loan Protection...

business loan protectionMost businesses borrow. However in many cases the bank or lender will require the applicant to have life insurance to clear the debt should they die or in some instances get a critical illness. Premiums charged from these lenders for this type of cover can often be expensive. If a loan is not covered and the applicant dies then the loan would be called in. If the business doesn't have resources to clear the loan this can cause problems.
Personal Client Solutions for You...

Mortgage Broker Service...

mortgage brokerI offer a whole of market mortgage broker service. I do not normally charge a broker fee. The advantages of using me as you mortgage broker are that I shop around the market to help you find the best and most suitable mortgage for your circumstances. I usually do the whole process remotely using the phone and email to gather your information and present the mortgage figures to you in a detailed report. This way I find clients can sit down in their own homes and take the figures in, in their own time without a mortgage broker in their home rushing them for a decision. I communicate efficiently and timely throughout the whole process and make the process as hassle free as possible. What I offer works as I get most of my business through recommendations from existing clients. View some of my client testimonials to see what they think.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Personal Protection Advice...

personal life insurance adviceTypically when clients review their personal life insurance protection is when they use a mortgage broker or move home. However most clients that I see have the wrong type of protection for their circumstances. Typically the policy will be for the wrong amount or the wrong term. In nearly all cases the policy will not be set up in trust and thus open a claim payment of the sum assured will take many months. Types of policies that I can help with include, Mortgage Protection Insurance, Critical Illness Cover, Family Income Benefit Policies, Whole of Life Cover, Gift Inter Vivos Policies etc.

Retirement Planning...

retirement pension planningMany client have changed jobs throughout their careers. During this time they have built up various different pension pots. For these clients I write to their exiting providers and analyse the charges and performance. I then compare what they have against what I can arrange for them. Other clients are just starting to think about retirement planning and want me to start a pension for them.
The value of the investment can go down as well as up and you may not get back as much as you put in.
Help with Investments...

InvestmentsMany clients have their hard earned saving stashed away in a deposit account or cash ISA. Many do not understand that due to inflation the actual value of their savings is in real terms reducing. Other types of investments which are still low risk but with more of a chance to beat inflation do exist. As part of my advice process I assess your attitude to risk profile then make recommendation of the type of investment which is best for you based on you tax situation and objectives.
The value of the investment can go down as well as up and you may not get back as much as you put in.

At Retirement Solutions...

at retirementThe at retirement market is one that is growing in size and in diversity. Due to the baby boomer's and their wealth that has been created due to their savings habits at retirement providers have increased product choice to compete.

Only a few short years ago clients only really had one choice at retirement which was to buy a conventional annuity. Now the annuity market alone has various forms of annuities such as Enhanced Annuities, Fixed Term Annuities and and the investment linked annuity. There are also some more flexible at retirement solution such as income drawdown. Others that do not have the pension lump sum and are finding hard to live on a smaller income may release some cash from their home using equity release or a lifetime mortgage.

Latest Life Insurance Posts

New Build Mortgages

Posted on November 22nd, 2013 in All Posts, Mortgages.

Whole of Life Insurance

Posted on November 22nd, 2013 in All Posts, Personal Protection, Protection.

When you reach the big five-oh you will be eligible to join an over 50’s plan, which is similar to a whole life plan, however, there are a few differences between the two policies. The main difference is that with whole life cover, you will need to be medically assessed, which means that you are […]

Guide to ASU Insurance

Posted on November 22nd, 2013 in All Posts, Personal Protection, Protection.

There are a number of different forms of ASU insurance (accident, sickness and unemployment insurance) and in the current financial market, more and more people are seeking more information about this type of insurance in an effort to learn more about how they can insure against the possibility of unemployment. ASU insurance is a broader […]

A Guide to Pensions for Employees

Posted on November 22nd, 2013 in All Posts, Pensions, Retirement Planning.

A Guide To Shareholder Protection

Posted on July 16th, 2013 in All Posts, Business Protection, Investments, Personal Protection, Protection.

A Guide To Shared Ownership Mortgages

Posted on July 16th, 2013 in All Posts, Mortgages.

Share

About Me

This is the site and Blog of Damian Youell. I am a fully qualified financial adviser. My aim is to arrange the most suitable financial solutions for clients. Many clients are arranging financial products without getting proper advice and therefore losing out on what a financial adviser can offer.

I offer financial advice to both business and personal clients. All quotes are no obligation, no hard sell, competitive with a full advice process. Find out more about me.

Recent Posts

Important

NeedingAdvice.co.uk is a trading style of Rosemount Financial Solutions Ltd who is an appointed representative of Intrinsic Mortgage Planning Limited and of Intrinsic Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority. Intrinsic Financial Planning Limited and Intrinsic Mortgage Planning Limited are entered on the FCA Register (http://www.fca.org.uk/register) under reference 440703 and 440718

UK only, the guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.