Start guiding your finances with Compass

Auto Enrolment & Corporate

If you run a business, we can help you understand the different types of corporate options available to you, saving you time to concentrate on what you do well – running your business.

Automatice Enrolment Pensions

In 2012, the Government introduced reforms that required all employers to offer their employees, who meet certain criteria, automatic enrolment into a workplace pension. Employers are also required to contribute a minimum of 3% of salary, which is being phased in gradually over four years. Employees will be required to make a personal gross contribution of 4% with tax relief of 1%. There are different ways of calculating the pension contributions as well as various mandatory communications you will need to send to your employees at different key points. We can help you get to grips with this to make the whole process simple and straightforward.

Businesses may want to protect the key employees within their firm – perhaps the key salesperson, or the IT manager without whom the business will not function properly. This protection can provide a fixed sum for the firm should the individual be unable to work, or even die. It’s designed to cover the firm’s resulting expenses and the interests of fellow shareholders. We are happy to talk you through all you need to know about putting this protection in place for your business.

Business Protection – Key person/Shareholder/Partnership Protection

Businesses may want to protect the key employees within their firm – perhaps the key salesperson, or the IT manager without whom the business will not function properly. This protection can provide a fixed sum for the firm should the individual be unable to work, or even die. It’s designed to cover the firm’s resulting expenses and the interests of fellow shareholders. We are happy to talk you through all you need to know about putting this protection in place for your business.

Tax Mitigation on Business Disposal

Selling a business or removing surplus capital from a business can result in certain taxes being levied, or change the way the proceeds will be taxed in the future. Options are available that will remove or defer the need of paying these taxes now or at a later date. We can talk through these options with you and explain exactly what they mean for your business.

Commercial Mortgages

If you’re looking to purchase a property to run your business from you’ll need a commercial mortgage. These are different from a residential mortgage and the repayments will be tax deductible from the business. Please see our Mortgage section for further details and speak to Hazel, our mortgage specialist.

How can Compass help me and my business?

Your business needs may change over future years of trading and we’re here to help at every stage. Whether it’s your automatic enrolment staging date that’s approaching, a new premises required, protecting your key people or planning for the disposal of the business, we can explain all the ins and outs so that you always know where you stand. Speak to David, our corporate specialist, to find out how we can help your business.

 

Call us on 01603 717202. We'll point your finances in the right direction
Back to top