Commercial

For our Business community b-advised ltd offer a range of products, sourced from the whole market; with competitive pricing as standard.

Commercial Loans

b-advised ltd can help resolve your short term financial problems, whether you require funding for development finance as your banks are not lending in this market, commercial loans to purchase property at auction or long term commercial finance arranged.

We negotiate business mortgages with a wide range of providers including major banks, commercial building societies, regional and local building societies and specialist commercial asset lenders.

Commercial Insurance

You can use this site to request a quotation for your business insurances, and you can also follow the links for our personal insurances.

b-advised ltd an independent company. We have been successful over the years because we understand that our business is dependant on how well we look after our customers. This means that we work to give you, the client, the best value for your money by finding you the best cover with the right insurer and at the best price.

We would be delighted to have the opportunity to quote for your insurances.

Business Protection

Many business owners are not aware that business protection exists so far as shareholder protection, partnership protection, and keyman insurances are concerned.  It is often the case that once a business understands how these products can help a business survive through the worst of times, it tends makes some sense.

Example 

We will imagine a business run by two partners Jim & David.  The business is an Independent Financial Advisor’s and is run by Jim & David.  The business has been established for a number of years and is doing well.  Both Jim and David are well known in the local area and are regarded as being the professional Advisors to deal with.  When they set the company up they did so on a 50/50 basis and shared the responsibilities of running it equally.  Both are married with children.

One day Jim is killed in a traffic accident.  Naturally Jim’s family and David are devastated.  From a business point of view David has lost a valuable partner in the business who contributed 50% to the running of the business.  He will be sadly missed and the business will never be the same again nor will it generate the same kind of turnover.

For Jim’s family things will obviously never be the same again.  They have lost a husband, father and bread-winner.  However, they still have a 50% share in the business which should give them some income.  Jim’s wife has no knowledge of the running of an Independent Financial Advisor business, not that she is able to contribute in any way as she has children to look after; and not the skills nor qualifications.

David now realises that not only has he lost a valuable business partner who made the business the success it is today, but he also has a new business partner who will contribute nothing to the running of the business, yet still take 50% of the profits at the end of each year.  David’s own income will now suffer too.

This scenario forces many a businesses to cease trading.  No one wins.  David has to start a new business all over again and Jim’s wife has been left 50% of a worthless company.

If Jim & David had shareholder protection things would have been different.  The protection policy would have paid Jim’s wife a lump sum of money equal to the value of Jim’s share in the company.  David would have been able to continue to run the company on his own and keep all of it’s profits.  In this scenario everyone gets their fair share all thanks to a little bit of forward planning that acts in both the businesses interests and family interests.

Partnership Protection can be written in one of three ways:-

• Own life policy held under business trust
• Automatic accrual-Own life policy held under a flexible trust
• Life of another policy

Keyman

1. The sole relationship is that of employer and employee
   This means direct employees of the company only - not employees of subsidiaries. 
   As a general rule if the employee, is a director and has a 5% or more holding in the company the policy will not qualify for tax relief.  It is still worth asking the inspector of taxes if they are prepared to allow the premiums for a tax deduction.
2. The insurance is intended to meet loss of profit resulting from the loss of services of the employee
   This must be loss of profits arising from loss of the key person.  A policy taken out for loan purposes would not qualify as it is for capital purposes rather than loss of profits.
3. It is an annual or short term insurance ’ Generally, a short term policy is considered to be 5 years or less.  A 5 year renewable policy is usually acceptable.
   In effect then, it is the local revenue office who will decide whether or not the policy meets the Anderson rules and whether premium relief is allowable.
   The premiums are charged through the company’s profit and loss account as usual.  The company should highlight to the revenue that the premiums have been paid and state whether corporation tax relief has been claimed or not.  The inspector of taxes then decides whether to allow the company’s claim for a reduction.