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This could be one of the most important business decisions of your life

Important Decision

If you’re involved in a business partnership or you’re a director of a limited company, have you ever considered what would happen to your shares if you die?It’s probably time you did.

The fact is, unless you take steps now, your next of kin could end up having to take your place in the business, if your business partners can’t raise the funds to buy your shares.

Now in some cases that might be desirable, but in most cases it wouldn’t be.

A life insurance policy can solve this issue. A policy can be put in place for the value of your shares which, should you die, would make funds available for your business partners to buy your shares from your next of kin.

And here’s another thing to consider. If you’re a company director, you can arrange your personal life insurance in such a way that the premiums are paid by the company. The benefit of this is that if you are a higher-rate tax payer, a £100 per month premium actually costs you £140, but, under current regulations, paying it from your limited company means you get relief for the premium against your corporation tax. In effect, this only costs £80 per month and the sum assured is paid out to your next of kin.

For a more detailed discussion about shareholder protection or other aspects of insurance in your business, please get in touch with James from BB Mortgages on 01636 674455 or james@bbmortgages.co.uk

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We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure working with you.  What is known to be a stressful time has been very smooth and I have yourselves to thank for this.


Miss Knight

2016-03-22T17:24:36+00:00

Miss Knight

We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure... Read the full article

Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

2016-09-13T12:38:09+00:00
Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

2016-09-13T12:43:22+00:00
Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

2016-09-13T12:48:10+00:00
Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with sensible fees and interest rates.

2016-09-13T12:49:06+00:00
Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with... Read the full article

2 months ago

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