Case Studies

Employee Benefits

Quest were approached by a large Pharmaceutical company based in the south east, to review their existing employee benefits arrangements due to poor service and advice from their existing advisers.  Quest Financial Solutions were able to enhance our clients existing private medical, income protection and death in service offering together with reducing the annual cost to the employer.

The pension scheme in place was dated, excessively charged and lacked flexibility for both the employer and its employees.  We have managed to save the company and its employees thousands of pounds in national insurance payments by switching the contribution method of the pension to salary exchange.  Employees now benefit from reduced charges, online access and access to a dedicated, independent financial adviser.


Investments

We were contacted by the brother of one of our existing clients as he had become dissatisfied with receiving 10 annual statements at different times of the year relating to ISA investments, unit trusts and endowments that he did not understand. 

After reviewing his investments carefully we have been able to amalgamate most of these into one easily accessble location ensuring his portfolio understanding is much greater.  We are now able to structure his investments in a more suitable fashion which allows us to tax plan efficiently and quickly by utilising his capital gains tax allowance and other annual allowances.


Business Protection

After reviewing the Directors protection policies for a multi branched Accountancy recruitment firm we discovered that one of the Directors policies had lapsed and the other had not been written in trust or in the benefit of the firm and had merely increased the Directors IHT liability.  We subsequently recommended key man policies for life and critical illness to benefit the firm in the event of either of them dying or becoming critically ill. 

In addition we recommended shareholder protection to safeguard their beneficiaries in the event of their death but also to protect the company and enable it to continue trading upon a Directors early death or diagnosed critical illness. By implementing shareholder protection the beneficiaries of the Directors also receive appropriate remuneration for the value of the company shares.

This method of planning is both cost effective and necessary in protecting businesses and dependents.

Latest News

Capped Drawdown and retaining the £40K Annual Allowance

The Annual Allowance (AA) places a limit on the maximum amount of tax relievable pension savings that can be made, by and on behalf of an individual, to all registered pension schemes without incurring a tax charge.

Chancellor Abolishes 55% Tax Charge on Death

As announced by the Chancellor George Osborne on the 29th September, from the 6th April 2015 individuals will have the freedom to pass on their unused defined contribution (DC) pension savings to any nominated beneficiary when they die,