If you or your company own one or more of the assets illustrated below, they could be ‘at risk’ if one of the following situations arises:
- Severe loss of business
- Dramatic changes to your industry
- Disasters resulting in an inability to work
The current situation has made many businesses question how they are set up to deal with a crisis and insurance companies are re-thinking how to restructure their business cover. If these circumstances possibly apply to you or your business, then you should consider some form of protection strategy.
At Folkes Worton LLP, we have such a strategy and are happy to work with your existing Professional Advisors such as Accountants, Solicitors and Surveyors to give you the advice and protection you need.
All our strategies will be fully approved by the Inland Revenue and our fees which are a ‘one off’ charge of between 1-2% of the asset value you seek to protect and the fees will not be payable until the HMRC approval has been received.
If you are interested in learning more, please fill in your details below:
Definition on an Asset:
“An item of property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies.”
Examples of Assets:
- Factories, industrial units, warehouses
- Care and residential homes
- Retail stores and units
- Pubs, restaurants and hotels
- Doctors, Dentists and Veterinary surgeries
- Holiday lets
- Plant and machinery
- Bank deposits and savings
- Goodwill and intellectual property
“£25m Protected So Far
Every month we are identifying more assets to protect for our clients – you could be next”
“100% HMRC Approved
Every protection plan we have ever submitted to HMRC has been approved”
Case Study 1
Father and Mother built a successful trading company over a period of 25 years. Due to ill-health, Father needed to retire early and the plan involved his eldest son taking over the business. At the time there was an excess of £1m on deposit and all family members (including the eldest son) were nervous that this could be vulnerable. Folkes Worton successfully devised a plan to protect this asset against an ‘Armageddon’ situation without incurring any tax liabilities.
Case Study 2
A young entrepreneur had successfully accumulated substantial ‘surplus’ funds. He didn’t want to extract these funds at a cost of higher rate tax, but wanted to invest in building a property portfolio for his retirement and which needed to be protected from adverse trading or a business sale, but also be tax efficient. We devised a solution and he has now just completed on his fourth investment purchase.
Folkes Worton LLP – Accounting for the Future