2018 Guide to Shareholder & Partnership Protection: Critical loss

It’s not just about a loss in profits but losing a key member of your business

The loss of a business partner or a shareholder can have a major impact on the success of any business. But it’s not just about the loss of profits the business could suffer. Who would take their place? Not only in performing their day-to-day duties, but also in making decisions of how your business is run in the future.

Critical Loss

No knowledge of the business

You could even be forced to work with a member of their family who has no knowledge of the business and isn’t really that interested in it. That family member would now have the same say as your partner before they died. This could be very disruptive or totally unacceptable to the other partner/ shareholders. The family may even want to sell their share of the business, which could be bought by a competitor or other unsuitable buyer.

Also, if your shareholding director or partner becomes critically ill, this could lead to uncertainty for the business. Would they be able to return to work? Would they even want to? Would they want to sell their shares following a health scare?


Our business solutions can help give your business reassurance

No one can predict what will happen in the future, but you can make sure you have the right protection in place to keep your business successful should the worst happen. With so many insurance providers on the market, finding the right cover for your business can be daunting. To discuss your options, please Contact Us for more information.

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This guide is for your general information and use only, and is not intended to address your particular requirements. The content should not be relied upon in its entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the content. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. All figures relate to the 2018/19 tax year unless otherwise stated.

Content of the articles featured is for general information and use only and is not intended to address an individual or company’s particular requirements or be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts.