Commercial Lawyers

At Albert Goodman we have considerable experience of advising business owners, and of working jointly with fellow professionals.

We are fully aware of the many planning issues that business owners need to consider.

In particular, we help clients to address key risks to the ongoing success of their businesses and to plan ahead for expansion, mergers and acquisitions, as well as considering eventual succession, retirement and exit strategies.

In keeping with our Accountancy colleagues’ proactive approach, we help your clients to consider how best to address risk and help them to build a strategic financial plan. Our comprehensive range of services for business clients includes:

Retirement Planning: in particular the use of SIPPs (Self Invested Personal Pension Plans) and SSASs (Small Self Administered Schemes). We have considerable experience of pension consolidation and of using clients’ pension funds to facilitate the purchase of commercial property (either for use by the client’s business, or as an investment) and land.

Business Protection: in particular planning for the impact on the business of the death (or prolonged incapacity) of a Partner, Director or key person within the business. Also assisting businesses in reducing the cost of any business loan related insurance products (e.g. life and critical illness insurance).

Income Protection: providing Partners or Directors with a regular income (to replace drawings or salary), in the event of their prolonged absence from work, due to illness or incapacity. Also, reviewing the suitability and/or reducing the cost of any existing arrangements, where appropriate.

Private Medical Insurance (PMI): recommending suitable schemes for business owners and key employees. Comparing products from the entire market and considering the suitability and tax treatment of such schemes.

Remuneration and Profit Extraction: recommending the most tax efficient method of enhancing Partners’ and Directors’ remuneration. This may include additional benefits, such as pension or life assurance contributions, as well as more strategic income or corporation tax planning.

Investment of Corporate Money: where businesses hold high levels of cash deposits over a long period, recommending strategies for tax deferral and achieving higher returns, whilst still retaining access to capital at all times.

Mortgages and Finance: providing access to specialist mortgage, finance and re-financing advice to business owners. Comparing products from the entire market and reviewing clients’ existing facilities, with a view to reducing cost.

Our Approach

Many of the commercial lawyers that we work with use us as a technical resource at the end of the phone, we are also on occasion asked to attend client meetings to explain complex financial planning issues (e.g. pensions) to clients. We are happy to do this and to provide an initial assessment of a client’s position, free of charge.

We also take time to find out how we can help lawyers to address risks to their own businesses (especially litigation) and we aim to ‘educate’ Partners and key client facing employees, to enable more informed discussion with clients about pertinent issues.

Where instructed by lawyers or clients to do so, we provide elite business clients with a detailed financial plan, which deals with the specific areas identified as being of concern, or where opportunities to enhance a client’s position have been identified.

We also look to cross-refer work to lawyers, wherever possible, in particular Partnership agreements, cross-option and shareholder agreements, employment contracts etc.

Specialist Qualifications

Our team of specialists hold a number of professional qualifications. Those which are particularly relevant to this area of advice include:

• G60 / AF3 (part of the Chartered Insurance Institutes Dip PFS qualification)
• CF9 (Pension Simplification)
• Certified Financial Planner
• Chartered Tax Adviser
• Chartered Accountant
• Associate of the Pensions Management Institute

Our Services for Business Owners team is led by Andrew Brown. Andrew and his support team are based in our office at: Mary Street House, Mary Street, Taunton, Somerset, TA1 3NW.

Further information:

Andrew Brown
Head of Services for Business Owners
Telephone: 01823 286096
email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Risk Warning: You should think carefully before securing other debt against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Please note that Buy to Let and Commercial mortgages are not regulated by the FSA.