Employee benefits and business protection advice

Employee benefits &
business protection

Employee benefits and business protection advice

Financial planning for businesses

Employers have long understood the crucial link between the benefits they offer and the recruitment and retention of staff. However putting together the right package requires expert knowledge and good purchasing skills, plus an eye for the inevitable small print. It is also important to understand the financial consequences were the business to lose a key person through illness or death.

We have extensive experience in designing, implementing and administering appropriate employee benefits packages and advising on business protection. Our customers range from partnerships and small owner-managed businesses to large public companies. We have particular expertise in working with medical and other professional practices.

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Need help with business financial planning issues? Call us on

08000 85 85 90

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Employee benefits

As an employer you will want any benefits you offer employees to be valued by them, as tax-efficient as possible for both parties and cost-effective for you. You also need to make sure you fulfil your statutory obligations.

  • Pensions: we can recommend the most tax-efficient arrangements for high earners (including directors) and low and medium earners.
  • Death-in-service benefits (also known as group life assurance): it is relatively cheap to offer and easy to set up and administer, although prices vary considerably.
  • Critical illness cover: this provides a lump sum payment to an employee should they suffer a serious illness, such as heart attack, stroke or cancer.
  • Income protection: this enables an employer to continue paying an employee’s salary if he or she is unable to work due to illness for an extended period.
  • Private medical insurance: group schemes are typically 30% cheaper than the equivalent number of individual policies. Fast access to specialists often results in employees requiring less time off work.
  • Flexible benefits: giving employees a degree of choice over the benefits they receive greatly increases the value they place on the benefits they select.
  • Salary exchange: this is also known as salary sacrifice. It enables employees to pay for certain benefits by a direct deduction from their salary and can increase the already generous tax breaks available for pension contributions by 23% or more, subject to meeting HMRC criteria.

Business protection

You and your colleagues rely on your business to provide you with income. What action have you taken to ensure that an unforeseen event doesn’t jeopardise both your business itself and the income partners/shareholders, directors and other people derive from it?

  • Key person insurance: in our view this is as important as insuring your stock, equipment, building or any other business asset. It plugs the financial gap created by the death or serious illness of designated key individuals on whom the revenue or profits of the business depends, enabling it to continue without them.
  • Partnership/shareholder protection: if a main shareholder should die could the remaining shareholders afford to buy their shares from the estate? If not, the situation could prove difficult, both for the new shareholders and the business.
  • Wealth creation and retention: we can advise business owners and senior managers on strategies that can help you reduce your income and capital gains tax liabilities, business transition and succession planning so more wealth can cascade down the generations.

Employee benefits and business protection for professional practices (consultants, dentists, vets, etc)

If you are in general or private practice, commercial financial planning issues are also likely to be high on your agenda. We have the expert knowledge required to explain your options and make informed recommendations on issues including:

  • employee benefits that help you attract, motivate and retain good people and are cost-effective for your practice
  • locum and surgery insurance
  • commercial finance, for instance to buy equipment
  • buying premises – buying premises through your pension scheme can be both a good investment and tax-efficient
  • protecting the finances of the practice and the families of key people through partnership, shareholder and key-man insurance
  • business succession and transition planning.


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