Business owners

Financial planning for business owners, entrepreneurs and the self-employed

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If you are a business owner, entrepreneur or are self-employed, you may well have complex finances. With such a focus on building and running a successful business, you may also struggle to give your finances – particularly your personal finances – the attention they need. 

Tilney can help you

At Tilney, our experts can help you make the most of your finances. We can work with you and any other business advisers you have to plan and structure your finances in the most tax-efficient way and we can ensure your money is working hard for you.

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Protecting your business and personal wealth

Many people don’t have adequate cover in place for the many business risks that exist. Protecting against these can ensure the successful running of your company without any unnecessary risk to your business, personal or family wealth.

We can help you with:

  • Shareholder protection
  • Relevant life insurance
  • Key person protection
  • Loan protection

Find out more about protecting your business from unforeseen risks in our guide.

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Cashflow modelling to forecast future finances

It is easier to plan for the future if you know what your finances will look like.  With the help of specialist software, our financial planners can analyse your personal and business wealth together with assets and expenditure to create a projection of your finances. They can also run through different scenarios to understand the impact on your finances. Through cashflow modelling you can establish if you are on track to achieve the future you want and, if you’re not, we can create a plan to help you get there.

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Your pension

You may be relying on the sale of your business to fund your retirement, but it pays to make the most of the Government’s allowances and tax relief for pension contributions. We can:

  • Show you how much you can afford to pay into your pension
  • Help you to make tax-efficient pension contributions through your company
  • Check that you are making the most of your annual and lifetime allowances
  • Help you make the most of your company pension scheme – including purchasing commercial property within your pension scheme to save tax, and taking loans from your company’s pension assets to fund expansion

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Corporate and personal investments

We have a large team of investment professionals who work together with our financial planners. Whether you are making corporate or personal investments, and would like to have your investments managed or be advised on them, we can help. This could be to diversify risk by investing in areas away from your business, or to generate a regular income from the lump sum you receive when you sell your business. We can also ensure that you are investing in the most tax-efficient way.

Exiting or selling your business

You may not be planning to exit your business for many years to come. But whether you want to sell your business or transfer ownership to other family members – or you are unsure which option would be best – the earlier you start planning, the more success you will have when transferring your business wealth into personal wealth.

If you are planning to sell your business, we can show you how much you may need to sell it for to achieve your personal financial goals, and when you may be able to sell. If you are passing on your business, we can help with your transition and consider your wider estate planning, while working with other family members to provide ongoing advice if necessary.

Whichever option you take, we can make sure you are using all of your tax allowances and reliefs before, during and after you leave the business.

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Estate planning and Inheritance Tax

Business assets do not form part of an estate for Inheritance tax purposes but if you sell your business and these assets become cash, they are subject to Inheritance Tax. We can help you put in place a plan to pass on your wealth in the most tax-efficient way.

Speak to us

Speak to us to find out how we can help you: