for directors and firms
Financial advice for company directors and the firm.
Edale has a range of services to support business leaders and their company.
We can help Directors with their company pension arrangements and products to assist the financial wellbeing of the company in unusual circumstances.
Edale "Accelerate" is our SMEs corporate advisory service usually accessed through a local enterprise network, accelerator or government agency.
Business protection insurance
Protecting the business is vital to safeguard the livelihood of you, the family and employees.
Key person protection
An insurance policy that helps to safeguard a business against the financial impact of death, terminal illness or critical illness of a key person during the policy term. A key person may include any member of the business whose death could lead to financial loss for the company.
The death of a major shareholder could have a serious impact on not the business but the shareholder’s family as well. Beneficiaries who have inherited shares may prefer to cash them in or other shareholders may wish to purchase the shares but lack the adequate funds to do so. Shareholder protection can help and involves setting out how shares are to be managed if a shareholder passes away. The policy can include critical illness and taken out on the lives of each shareholder by either fellow shareholders or the business. Should a shareholder die or become critically ill a pay-out can be used to purchase the shares of the holder.
Working in the same way as shareholder protection, this type of policy gives the partners of a partnership or limited liability partnership the ability to buy a deceased or critically ill partner’s share in the business.
To learn more about protecting the business contact us.
A good company pension scheme helps employees save towards retirement.
Auto-enrolment makes it compulsory for employees to put into place a qualifying workplace pension, and ‘automatically enrol’ their eligible workers. Employers will then have to make contributions to their workers’ pensions every pay period.
Group Self-Invested Personal Pension
Pools together the pension assets of its members for investment purposes. Each member has their own account within the group SIPP that will be individually registered with HMRC, but all assets are combined into a single fund. A member’s initial share in the fund, their investment returns and associated costs will be based on what they pay in.
Group Small Self Administered Scheme
A type of occupational pension scheme established for the directors and senior employees of a business. Set up under trust by the sponsoring employer for the benefit of the scheme members.
The value of investments and the income derived from them may go down as well as up. Tax reliefs are dependent upon personal circumstances, and pension and tax rules are subject to change by the government.
To learn more about employee pension schemes contact us.
Provide your employees and their families with cover and protection should they fall ill or pass away.
Group life insurance
Group life insurance can pay a tax-free lump sum and/or an ongoing income to the loved ones of an employee who passes away, while they are covered by the policy. It ensures that your employee’s dependents have a means of financial protection should the worst happen, providing a cost-effective but valuable employee benefit.
Group critical illness cover
Group critical illness cover pays out a lump sum if an employee is diagnosed with a specified critical illness or condition while covered by the policy. Illnesses and conditions covered by a policy will vary depending on the provider.
Group income protection
While group critical illness cover pays out a lump sum, group income protection provides employees with an income if they’re unable to work on a long-term basis, as the result of an illness or injury. Find out more.
Relevant life is a term assurance plan that allows employers to provide an individual death in service benefit for an employee. It is paid for by the employer and designed to pay out a lump sum to the employee’s family and dependants if he/she dies whilst employed during the length of the policy. It will also pay out if the employee is diagnosed with a terminal illness whilst employed. As a relevant life plan is designed to be written in a discretionary trust, it provides a tax-efficient benefit for employees.
Private medical insurance
Private medical insurance is a good way of keeping a healthy workforce and provides an attractive employee benefit. Policies will vary depending on provider and as with other employee benefits, an independent financial adviser can assess your needs and search the whole of the market to find the best possible solutions for you, your business and your employees.
To learn more about the most cost-effective ways of providing your employees with valuable benefits, contact us.
Taxation can be very complicated and the rules, reliefs and allowances often change or confuse people.
To learn more efficient ways to manage company finances contact us.