BUSINESS PLANNING
Advice for Businesses
It’s easy for business owners to become so absorbed in their company’s growth that they overlook their financial well being. Yet, establishing a solid financial foundation where your personal and business finances complement each other is crucial for long-term success and peace of mind. Roxburgh Financial Services is dedicated to helping you achieve this balance.
Whether it’s optimising your pension contributions for tax efficiency, protecting your business against unforeseen risks, or ensuring your estate is managed correctly, our team is here to guide you every step of the way. We specialise in providing bespoke advice that bridges this gap, ensuring both aspects of your financial life are optimised for your benefit.
Maximising pensions as dual-purpose assets
A significant oversight by some business owners is viewing their business as their sole retirement plan—this perspective, though optimistic, harbours risks. Market fluctuations, unforeseen business challenges, or delays in business sale plans can drastically affect your retirement timeline and financial security. Diversifying through pension contributions offers a safer, tax-efficient saving avenue.
Roxburgh Financial Services champions the integration of business and personal financial strategies. We provide expert guidance on leveraging tax reliefs and optimising your business structure for tax purposes.
For business owners, pension contributions do not merely serve as retirement savings but are pivotal in tax planning. These contributions can be made personally and as an employer, offering a method to reduce taxable income while securing your future.
Safeguarding your business and legacy
Insurance is often thought of in terms of physical assets. However, human capital is invaluable, particularly in small to medium-sized enterprises. The unexpected loss of a business owner or key personnel can destabilise an otherwise thriving business. We understand the critical nature of comprehensive protection strategies.
We advocate for a holistic approach to safeguarding your legacy and business continuity. This includes key person protection, shareholder protection, and setting up cross-option agreements. These measures ensure that in the event of death or severe illness, your business remains resilient, minimising disruption and protecting the interests of all stakeholders.
Furthermore, we emphasise the importance of having an up-to-date Will. It’s crucial to ensure that your share of the business and other assets are distributed according to your wishes, securing your family’s future and maintaining your legacy.
Planning your exit strategy early
Exiting a business often seems distant to business owners immersed in the day-to-day challenges of running their companies. However, early planning for this inevitability can significantly enhance the benefits when the time comes. Understanding your “magic number”—the amount you need from selling your business to sustain your desired post-exit lifestyle—is crucial.
We advise clients on calculating the cost of their future lifestyle ambitions. We assess whether the potential sale proceeds, plus pensions, savings, and investments, will meet these needs, enabling you to pursue new ventures or investments confidently.
Understanding Business Relief for family transitions
Navigating the implications of Inheritance Tax is essential for those hoping to pass their business legacy on to family members. Business Relief might offer a pathway to exempt company shares from Inheritance Tax upon death, safeguarding your family’s financial future without diminishing the value of your hard-earned assets. Our expert team is adept at advising on such intricate matters, ensuring that your business transfer aligns with both your familial and financial objectives.
Broadening your investment horizon
While the primary focus of any business owner is to propel their company towards success, diversification remains a key principle of sound financial management. Investing beyond your business—in equities, bonds, cash, and other assets—can provide a safety net, mitigating the impact of unforeseen business downturns.
Roxburgh Financial Services guides clients in crafting diversified investment portfolios tailored to individual risk tolerances, investment timelines, and financial goals. By strategically allocating excess profits across various asset classes, we help secure your long-term financial stability, allowing for adjustments as your objectives evolve.
Building on solid financial foundations
Business success transcends the mere inception of a good idea; it demands the construction of robust financial foundations from the outset. Surrounding yourself with our team of financial experts is not just advantageous—it’s imperative. Regular reviews of your financial strategy ensure alignment with both your evolving business operations and personal aspirations.
At Roxburgh Financial Services, we pride ourselves on being a pillar of support for business owners. Our expertise in financial planning offers clarity, empowering our clients to make informed decisions. With our dedicated team, you’re free to focus on what you love most about your business, approaching the future with unwavering confidence.
Ready to take the first steps today towards a financially secure future for your business?
Your business’s financial health and your personal wealth are intertwined. Planning for the future, diversifying investments, and preparing for your business exit are complex tasks that require expert guidance. Roxburgh Financial Services is here to provide that guidance.
We invite you to join the ranks of business owners who’ve benefited from our expertise. Together, we will secure your financial future, ensuring your business is a testament to your success and a foundation for your desired lifestyle.