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Shareholder Protection

What is shareholder protection? This is where a small business operates as a private company and there are directors and shareholders.

The value of pensions and the income they produce can fall as well as rise, you may get back less than you invested.

SHAREHOLDER PROTECTION

Shareholder protection is similar to partnership protection, but there is no compulsion on the part of the surviving shareholders to buy the deceased shareholder’s shares from their estate. Even where they would like to, the cash is not always readily available.

THE PROBLEM IS TWO FOLD:

Possible financial hardship for the deceased’s family – there being no ready market for the shares (especially if the deceased held a minority holding) or restrictions laid down in the transferability of the shares in the company’s Memorandum and Articles of Association.

 

The surviving shareholders find themselves sharing control of their business with an outsider who may know nothing about the business.

 

WHAT IS THE SOLUTION?

As with partnership protection, a life assurance plan would enable the surviving shareholders to purchase the shares from the deceased shareholder’s estate.

Again, the type of plan and length of term will vary according to the company. Term assurance could be used to protect shareholders against death before retirement. Convertible term or whole of life plans could be considered if the shareholder wanted further protection after they have retired.

Again, the type of plan and length of term will vary according to the company. Term assurance could be used to protect shareholders against death before retirement. Convertible term or whole of life plans could be considered if the shareholder wanted further protection after they have retired.

By adjusting the shareholders remuneration, equalisation of contributions can be achieved if they are all working for the company. What is the tax situation?

The tax situation for shareholder protection is similar to the tax situation for partnership protection.

A particular general need can sometimes be met by alternative solutions. For example, family protection to provide cash in the event of death could be provided by term assurance or whole of life assurance. Protection against ill health could be provided by an accident and sickness plan or permanent health insurance.

ADVICE

We are pleased to offer consultation and advice in this complicated area and have strong relationships with specialist legal professionals who can assist with any required contracts and business trusts.

Thursday Thoughts 💭

We are always pleased and honoured to receive testimonials from our clients 😀

#thursdaythoughts
#throwbackthursday
#thankfulthursday
#thankyou
#keepingitlocal
#familybusiness
#financialadvice
#feedback
#thursday
#thursdaytip
#torbaybusiness
#torbay
#torbaylife
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#testimonial
...

Thursday Thoughts 💭

We are always pleased and honoured to receive testimonials from our clients  😀

#thursdaythoughts
#throwbackthursday
#thankfulthursday
#thankyou
#keepingitlocal
#familybusiness
#financialadvice
#feedback
#thursday
#thursdaytip
#torbaybusiness
#torbay
#torbaylife
#financialadvice
#testimonial

Put a spring in your step – make the most of tax relief

Saving into a pension is one of the most tax-efficient ways you can save. But it’s something many of us don’t know much about.

Standard Life carried out research last year and 40% of people said "they weren’t aware of it,” says David Downie, pension tax expert at Standard Life.

It means that every £100 contribution into your pension pot costs you just £80 if you’re a basic-rate taxpayer paying 20% tax.

For a free informal chat and more information about this please give Paul our adviser a call.

🌐https://torbayfinancialservices.co.uk/retirement/

#retirement
#financialadvice
#tax
#taxefficient
#standardlife
#wednesdaywisdom
#toptips
#keepingitlocal
#boosttorbay
#stmarychurchtorquay
#torbay
#familybusiness
#wearehereforyou
#free
...

Put a spring in your step – make the most of tax relief

Saving into a pension is one of the most tax-efficient ways you can save. But it’s something many of us don’t know much about.

Standard Life carried out research last year and 40% of people said they weren’t aware of it,” says David Downie, pension tax expert at Standard Life.

It means that every £100 contribution into your pension pot costs you just £80 if you’re a basic-rate taxpayer paying 20% tax.

For a free informal chat and more information about this please give Paul our adviser a call.

🌐https://torbayfinancialservices.co.uk/retirement/

#retirement
#financialadvice
#tax
#taxefficient
#standardlife
#wednesdaywisdom
#toptips
#keepingitlocal
#boosttorbay
#stmarychurchtorquay
#torbay
#familybusiness
#wearehereforyou
#free

TAKING A QUARTER OF YOUR PENSION SAVINGS TAX FREE

A lot of people know that they can access some of their pension money without paying tax but perhaps aren’t sure how it works.

When you access your pension savings, you can normally take a quarter – 25% – tax free. If you have a modern, flexible pension plan, when you take this is up to you. You can take it all at once. But you don’t have to.

You can take it in slices over a number of years if the pension plan you have lets you. This is known as phasing, and could be a smart move as it tends to be more tax efficient overall.

And, of course, just because you can, doesn’t mean you should take all – or any of it. The longer your money stays untouched inside your pension plan, the more potential it has to grow in a tax-efficient way and the higher your tax-free amount could be. Of course, that’s not guaranteed and because money in your pension is invested, its value can go down as well as up and could be worth less than what’s been paid in.

For advice on how, and if, it's suitable to access your pension savings please give us a call.
Paul (adviser) ☎️ 07891 614559
💻 paul@torbayfinancialservices.co.uk

#pension
#pensionadvice
#financialfreedom
#finance
#financialplanning
#tax
#taxes
#keepingitlocal
#stmarychurchtorquay
#babbacombestyle
#torbaybusiness
#torbayhour
#torbaybusinessnetwork
#torbaylife
#boosttorbay
#retirement
#retirementplanning
#retirementplan
#retirementgoals
#holiday
...

TAKING A QUARTER OF YOUR PENSION SAVINGS TAX FREE

A lot of people know that they can access some of their pension money without paying tax but perhaps aren’t sure how it works.

When you access your pension savings, you can normally take a quarter – 25% – tax free. If you have a modern, flexible pension plan, when you take this is up to you. You can take it all at once. But you don’t have to.

You can take it in slices over a number of years if the pension plan you have lets you. This is known as phasing, and could be a smart move as it tends to be more tax efficient overall.

And, of course, just because you can, doesn’t mean you should take all – or any of it. The longer your money stays untouched inside your pension plan, the more potential it has to grow in a tax-efficient way and the higher your tax-free amount could be. Of course, that’s not guaranteed and because money in your pension is invested, its value can go down as well as up and could be worth less than what’s been paid in.

For advice on how, and if, its suitable to access your pension savings please give us a call.
Paul (adviser) ☎️ 07891 614559 
                              💻 paul@torbayfinancialservices.co.uk  

#pension
#pensionadvice
#financialfreedom
#finance
#financialplanning
#tax
#taxes
#keepingitlocal
#stmarychurchtorquay
#babbacombestyle
#torbaybusiness
#torbayhour
#torbaybusinessnetwork
#torbaylife
#boosttorbay
#retirement
#retirementplanning
#retirementplan
#retirementgoals
#holiday

Don't pay more tax then you need to....

⭐ISAS – Don’t miss out on tax savings
⭐Use your annual ISA allowance
⭐Check your existing cash ISA holdings
⭐Consider junior ISAs (JISA)
⭐Maximise your pension contributions
⭐Don’t forget IHT and capital gains tax
⭐Act now!

Call or email us for more information and advice.

📱Paul ~ 07891 614559
💻 paul@torbayfinancialservices.co.uk
🌐 torbayfinancialservices.co.uk/
...

Dont pay more tax then you need to....

⭐ISAS – Don’t miss out on tax savings 
⭐Use your annual ISA allowance 
⭐Check your existing cash ISA holdings
⭐Consider junior ISAs (JISA) 
⭐Maximise your pension contributions
⭐Don’t forget IHT and capital gains tax 
⭐Act now!

Call or email us for more information and advice.

📱Paul ~ 07891 614559
💻 paul@torbayfinancialservices.co.uk   
🌐 https://torbayfinancialservices.co.uk/

The ground may have been a little frosty over the last week or two..... but we never are 😀

For friendly, informal and expert advice on all financial matters we are here to help and guide.

Wishing you all a super Sunday ❄️ keep safe ~ keep warm

Paul and Jacqui

#sundayvibes
#supersunday
#weeekendvibes
#walking
#staysafe
#keepwarm
#frost
#wellbeing
...

The ground may have been a little frosty over the last week or two..... but we never are 😀

For friendly, informal and expert advice on all financial matters we are here to help and guide.

Wishing you all a super Sunday ❄️ keep safe ~ keep warm

Paul and Jacqui 

#sundayvibes
#supersunday
#weeekendvibes
#walking
#staysafe
#keepwarm
#frost
#wellbeing
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66 Fore Street
St Marychurch, Torquay
Devon TQ1 4LX

e: paul@torbayfinancialservices.co.uk
t: 01803 411460   m: 07891 614559

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