continuity&succession

the key to protecting your business

At Joshua Jacob we offer impartial, independent advice on a range of robust strategies in disaster recovery for Business Owners.

Our clients stretch across a wide range of industries: - Printing  Packaging  Agriculture  Engineering Manufacturing  Construction  Real Estate Hospitality  Retail  Health Services.

 

 

As a Business Owner, it is vital to review your strategies. The loss of a fellow Business Owner, Shareholder or Partner can have a major impact on the continuation of your business. Retaining control is key.

We at Joshua Jacob boast over 25 years’ experience working across the sectors, assisting Business Owners by arranging the most tax-efficient strategies should the worst happen.

Our aim is to ensure that you and your business enjoy continuity and succession.

 

CROSS OPTION AGREEMENTS

BUSINESS SUCCESSION

 

 

> Take advantage of a full comprehensive review without obligation, for an appointment call us on 01332 820082

 

Clients

PRINT4 LIMITED

Print4 is an award winning family business offering a comprehensive suite of print services. From initial design concept to final delivery, we have a heritage of exceeding expectations.

“We took advantage of a risk review from Joshua Jacob. I am delighted we took the opportunity as the review highlighted that our current arrangements had not been configured in a tax efficient manner.”  MATT BOAM – DIRECTOR

 

FASTLATHE LIMITED

Providing subcontract precision engineering services for close to 4 decades, Fastlathe offer a first class service which encompasses CNC Milling, CNC Turning and Powder Coating.

“Joshua Jacob explained the complete process in simple terms. We took up their recommendation and implemented the strategy. We would have no hesitation in recommending them.” PAUL HORSPOOL - MANAGING DIRECTOR

 

APPLE FINISHING LIMITED

Apple Finishing are a complete print finishing house offering a full complement of machine and hand finishes to above and beyond industry standards for accuracy and turn around time.

“Joshua Jacob offered Apple Finishing an outstanding service. On our first meeting it was clear that we were dealing with a professional and courteous business. We implemented their recommendations and secured our company’s infrastructure. I would recommend Joshua Jacob to all business owners.” NIGEL MOORE - DIRECTOR

 

HSL CONSTRUCTION

HSL Construction covers all aspects of commercial groundworks. Our services include Road Maintenance, Civil Engineering and Ductwork Installations. We also have teams of highly trained and specialist Telegraph Pole Installers.

“We were introduced to Joshua Jacob last year with a view to reviewing our Cross-Option Arrangements. Joshua Jacob were extremely professional, giving us clear advice and support through every step of the process. Many thanks to Simon, Frances and the rest of the team.” HELEN KITCHEN - FINANCE DIRECTOR

 

GM FINISHING LIMITED

GM Finishing offer a full range of services to the print industry, including:- calendars, book & diary wiro-binding, automated padding & punching, sheet collation, booklet making, shrink wrapping, drilling, automated counting & much more.

“Joshua Jacob was referred to us. We knew that they had helped various companies in the Print and Finishing world and we would have no hesitation in recommending them.” ALISA BAGULEY - DIRECTOR

KIRK HALLAM HOMES LIMITED

Kirk Hallam Building Company Ltd was incorporated in 1969 as a family business and is now one of the longest established privately owned house building companies in Amber Valley.

“Joshua Jacob were invited to review our business, mindful of any risk inherent to them. The report was clear and easy to understand. We have engaged with Joshua Jacob and continue to receive a high level of service.” CLIVE STEVENSON - DIRECTOR

 

JAGTECH LIMITED

Nottingham Jagtech are an independent Jaguar specialist that offers a complete support service for owners of the marque. Our large modern premises are equipped to provide first-class service for you and your Jaguar.

“Our company is relatively small, nevertheless it was important we put something in place. Joshua Jacob presented various solutions to our disaster recovery.  We believe we have implemented the right plan and trust Joshua Jacob to look after our account.” MARK WILKINSON - DIRECTOR

 

CAMPER UK LIMITED

A family run business based in Lincoln, CamperUK are the complete motorhome and caravan business. With New and Used sales, one of the counties best Service, Repair and Maintenance centres, a Hire Fleet, its own Leisurepark and an Online Parts department.

“Dean and I have known Simon and the team at Joshua Jacob for several years. We have been consistently kept up to date with legislation and plan changes that benefited our company. We have no hesitation in referring them to our valued clients.” ALAN PICKERING - SENIOR PARTNER

 

PEAK EDGE HOTEL

The Peak Edge Hotel, a family owned, 4 star, modern boutique hotel nestled on the edge of Derbyshire’s Peak District National Park. It is in an ideal location for guests who enjoy walking, outdoor pursuits, cycling, golfing or those who just want a complete getaway.

“Joshua Jacob have been informative and clear in all our dealings and continue to look after our various companies.” DAMIEN DUGDALE - MANAGING DIRECTOR  

 

  

Business Lasting Power of Attorney

WHAT IS A BLPA?

A BLPA is a powerful legal document which allows a Business Owner (Donor) to appoint persons of their own choice (Attorneys), to look after their business affairs. It can be used if they no longer wish to make these decisions, or lack the capacity to manage their business affairs themselves.

WHY DO I NEED A BLPA?

The main objective of any Sole Trader, Partner, or Company Director is to ensure the efficient running of their business. With daily decisions to be made, staff to pay and suppliers to meet, it is imperative that somebody is able to fulfill their duties if they should be taken ill or become mentally incapable.

If they can’t continue to run their business, either through being physically or mentally incapable, (or by simply being out of the country for long periods of time) it is important that somebody has the authority to act on their behalf in relation to their business interests.

The Scenario

SALARIES

Bank accounts may not be accessible. Salaries and bonuses could therefore go unpaid; this may cause undue hardship for the employees and their families.

SUPPLIER

With a signatory unable to sign on the business bank accounts, suppliers may not be paid and cash withdrawn. Mr Smith’s suppliers are left without payment and therefore refuse to send further products.

CONTRACTS

Without Mr Smith’s signature, the business could be prevented from entering new contracts, paying invoices, buying stock and authorising sales.

BANKS

Most banks place limitations on accounts when they become aware that an account holder has lost capacity. Mr Smith’s bank could decide to call in any business loans as they are concerned that the business will now be unable to honour its obligations.

HMRC

Without Mr Smith’s signature, the business may not be able to pay its creditors as above, this could include HMRC.

  

Our Agreements

AGREEMENTS

We at Joshua Jacob offer various strategies and arrangements for Shareholders and Partners.

BUY AND SELL ARRANGEMENTS: -

These are legally binding arrangements that lay down who can buy the interest in the business and at what price it will be sold.

If death is the trigger, the surviving stakeholders must buy the deceased’s interest in the business from the estate using a pre-agreed method of valuation.

This method may not be suitable for strategical tax planning.

BUY/SALE CROSS OPTION AGREEMENT: -

With this arrangement, the estate of the deceased have the option to sell the shares and the surviving Partners or Shareholders to buy the shares within a pre-determined period. The estate is legally bound not to sell the shares to anyone else during this time period. In certain circumstances this can be a suitable tax strategy.

 

 

SINGLE OPTION AGREEMENT: -

A Single Option Agreement gives options to a Partner/Shareholder who becomes seriously ill. They can either stay in the business or sell their share to other Partners or Shareholders who must buy them.

This can also be configured in a tax efficient manner.

AUTOMATIC ACCRUAL METHOD: -

Used mainly by Partnerships, this method means that if a Partner dies, their shares pass automatically to the business’s remaining Partners.  

All the Partners in the business could take out a Life Policy to compensate their estate for their share of the business.

It is likely that these would be written into Trust, ensuring that the money goes to each of the Partners’ beneficiaries.

  

Contact

joshuajacob
Suite 8
Derwentside
25 Town Street
Duffield
DE56 4EH

 : 01332 820082

 : enquiries@joshuajacobb2b.co.uk

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