Financial planning for your business

We’re here to help you build a financial plan that fits your business, whether you're just starting out or planning for the future. Our Financial Advisers take the time to understand your goals, so together we can create a plan that gives you confidence and peace of mind. 

We can help by:

• Protecting business owners and their families in case of injury, illness or death
• Help safeguard profits against the loss of a key person
• Help you choose the most effective way to take money from your company
• Help develop a succession plan to secure the future of your business.

Protecting business owners and their families

If you’re in a business and a co-owner dies, leaving their share to family, you may want to buy it - but what if:

• They don’t want to sell
• You lack the cash
• You can’t agree on a price
• They want to sell to a third party?

Your NFU Mutual Financial Adviser can discuss with you the value of having a shareholder agreement in place to set out what happens in the event of any of the business owners dying, suffering a serious illness or retiring, including an agreed way of valuing the business. This is something your solicitor will then be able to help with.

Your NFU Mutual Financial Adviser will also make sure the right level of protection cover is in place, so that the remaining business owners have a cash sum to help them buy the deceased or ill co-owner’s share of the business and that the ill owner or their family receive a fair value for their share of the business.

Our Financial Advisers advise on protection products provided by Aviva Protection UK Limited.

Protect your business and retain talent

Your people are vital to the success of your business. Protecting them is essential. We can help you put the right protection in place, whether it’s to cover the loss of a key person or protect any business loans.

Key person protection

Provides a lump sum if a key employee suffers a specified critical illness or dies. This can help offset lost profits or costs of recruiting a replacement.

Protecting business loans

If your business has loans, mortgages or director’s loans, we can help you protect these in case of death or specified critical illness.

Benefits to attract and retain talent

We can help put in place a range of benefits to help you attract and retain employees, these include offering life insurance to your employees, as well as providing additional pension benefits which can be a very tax-efficient option for both your business and your employees.

Taking money out of the business

If you run a limited company, you can take money as salary, bonus or dividend. One of the most tax-efficient ways is through company pension contributions.

Pensions diversify your retirement income beyond your business, meaning your retirement income won’t be solely dependent on the success of your business.

From age 55 (57 from 2028), you can access funds flexibly. Whether that be taking ad hoc lump sums, withdrawing variable amounts of income, or securing a regular income for life. 

To qualify as a business expense, pension contributions must be ‘wholly and exclusively’ for business purposes. Our Financial Advisers will be able to explain this in more detail.

Passing a business on

Many owners wish to pass their business on to the next generation. Whether during your lifetime or after, having a plan can help ensure a smooth transition and help secure the future of your business.

Maximise tax breaks

There are two key taxes to consider, Inheritance Tax (IHT) and Capital Gains Tax (CGT).

• Inheritance Tax (IHT): Business Property Relief can reduce or eliminate IHT on qualifying assets. However, there are lots of potential traps and changes coming into effect from April 2026 that will limit the amount of relief that can be claimed. It’s important to speak to one of our Financial Advisers and get some advice, as it could result in higher Inheritance Tax bills for many business owners.
• Capital Gains Tax (CGT): Giving away business assets or shares may trigger Capital Gains Tax. You may be able to defer CGT by claiming Gift Hold-Over Relief - passing the gain to the person receiving the gift instead.

Other considerations

It’s important to ensure that all business owners have valid wills and, where appropriate, a shareholder agreement in place, as this will ensure the ownership ends up in the right hands, at the right time. 

You might also want to think about how you make provisions for those children who don’t wish to be involved in the future of the business. We have a wide range of investment options that can be used to support succession planning. 

We can help you take care of your business

We build trusted relationships with all our business customers - whether you run your business as a limited company, sole trader or partnership. Your personal Financial Adviser will get to know you and your people, understand your goals, and help protect what matters most.