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Business / Corporate

Key Person Protection

Many companies will have certain directors or employees who are vital to the profitability/growth of the company.

Being part of a successful company means overcoming constant challenges.  When things go well thanks to the skills and efforts of your important key members of staff, it can be very rewarding but what happens if your key employee dies or has an accident or illness?

The death or critical illness of a key person in your company could have grave implications on everything you have worked so hard to achieve.

Fox Payne Associates Limited will help look at all the options available to you and guide you through solutions to help make your company and your family's financial future more secure. 

Group Pension Planning

Pension legislation in the UK is in the process of undergoing the biggest change for decades.  For the first time UK companies will be compelled to offer employees a pension and each company will have to have a pension in place into which employees will automatically be enrolled.  This could be an existing or new pension scheme like a Group Personal Pension or Stakeholder pension provided it meets qualifying status.  If you do not have a pension scheme in place or do not introduce one, you will be able to adopt the Government's scheme known as The National Employment Savings Trust, or NEST.

This legislation impacts all employers of all sizes and phasing started in 2012 and depending on the size of a company, a staging date will be set by which a scheme must be put into place.  While this can be seen as an additional burden on employers, it can also be seen as a valuable employee benefit as it can play an increasingly important role in attracting and keeping good members of staff.  A good group pension scheme will offer your employees security and reassurance.  It is also extremely tax efficient for both you and your employees.

We at Fox Payne Associates Limited offer advice to employers on setting up Group pension plans and already assist several large companies providing ongoing servicing of their company schemes.  As an added benefit, we are able to offer onsite financial planning meetings to both employers and employees in relating to all aspects of financial planning on-site, as and when required.

Share Preservation

Share Preservation Protection Insurance is life insurance taken out on the lives of partners or shareholding directors to ensure that a lump sum is available on death, so that the surviving directors/partners have capital to buy the shares back from the deceased's estate.  This means that they do not have to run the business with the deceased's family who may have no knowledge or expertise.  The family would probably prefer to be compensated.

If a company director suffers a critical illness or dies without share protection agreement, the surviving directors run the risk of the shares passing to someone with no interest in the company, or even another company that's in a position to make a takeover bid.  In this situation, most surviving directors will want to by the deceased directors shares and keep control of the company.  Only a few however, would have the right amount of cash at the right time.  A Fox Payne adviser would be more than happy to sit down, listen to your business needs and help you find a suitable share protection plan.

Commercial Lending

Fox Payne Associates can introduce you to third party professionals who have access to a wide range of funding for businesses to assist owners and directors on a variety of business issues. These would also include: asset finance, vehicle leasing, business finance and straight commercial loans to buy a business.

Commercial Lending is not regulated by the Financial Conduct Authority.

To find out more information on how Fox Payne Associates can help you with any of the above products click here or call us on 0118 918 7570.

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"Excellent service, understood financial position and requirements, advised us on alternative platforms and products, full and extensive review of existing products, brought in specific specialist to assist where necessary."
J Shields

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