At Safehands, we’re here to help you manage your finances and maximise profits.
We’re passionate about helping you succeed in ALL areas of your business. Once you get your business right, it will have positive knock-on effect on other aspects of your life.
Many of our clients see Safehands purely as an accountancy firm. However, through our sister company, we offer Independent Financial Advice in Gloucestershire as well. You’ll find advice and support on all aspects of your business planning and financial needs including how to run both your business and your personal finances in as tax efficient a way as possible. See our recent blog on tax efficient investments.
While we’re here to help you through the fun parts, we also help our clients prepare for the inevitable events in life, so that loved ones don’t have a financial nightmare to deal with on top of their loss. As they say – there are only two certainties in life; death and taxes!
If your children, partner or other relatives depend on your income to cover the mortgage or other living expenses, then you probably want to consider life insurance, to help provide for your family in the event of your death.
We can give you the details you need to make an informed decision about the different types of life insurance policies available.
We’ll also help you avoid the pitfalls of choosing the wrong policy. For example, we’ll guide you through ‘low-start’ policies. While they might seem appealing at first, you can end up paying more over the whole term. With reviewable policies the premium is only guaranteed for a few years which can mean your premium becomes unaffordable in the future. Or, if you withhold information about your health, your policy could be invalid. We’ll help you provide the right information in the right way so your policy meets your needs.
Not only that but we’ll show you the key ways you can use a life insurance policy to reduce the amount of inheritance tax your estate will have to pay.
And that’s not all! We have great news for small business owners too. By making your business pay your life policy payments – rather than you – you won’t pay any national insurance or income tax on the premiums, AND you’ll get all the benefits of corporation tax relief. This is because HMRC views the premium as an allowable business expense.
It works in exactly the same way as a personal life insurance policy, except that it is taken out and paid for by the business.
As this article in the Telegraph warned, buying a policy from a bank, or even from the insurer, could cost far more than using an adviser. So why not give us a call today?