CORPORATE SERVICES

Corporate Services

Mitchell Prockter offers specialist financial planning advice to companies and businesses ...specialist expertise needed to plan around corporate tax requirements and any implications that may arise. Other areas in which we can help include business protection, partnership protection, key person protection and employee benefit schemes.

Many of our corporate clients appreciate the value of personal financial planning advice from Mitchell Prockter for their executives and senior personnel. As part of our remit, this can include pre-retirement counselling, advice on tax implications, state benefits and investments.

Employees today are more financially aware and often expect their employers to provide pension, protection and healthcare benefits as key elements of their remuneration package. Employee benefits will become an increasingly important tool to help employers retain and recruit high calibre staff. Independent and impartial advice is invaluable to achieve the best possible value for money.

Auto Enrolment

Auto Enrolment is part of a government initiative to increase private retirement saving. As part of the Pensions Act 2008, all eligible employees must be automatically enrolled into their company pension. Starting in October 2012 and running up to February 2018 you will have to put in place a scheme to start enrolling all your eligible employees into a qualifying pension scheme and you must contribute to their plan.
The Auto Enrolment legislation is complex and has implications for all sizes of businesses and every employer will have duties to complete before their start date. We can help and guide you through the Enrolment process, providing you with advice through every stage to ensure you don’t fall foul of the rules.

Corporate Pension Schemes

We put together packages, including pension schemes, which are designed to meet objectives. We can also appraise existing arrangements and advise on making them more effective. Because Mitchell Prockter are fully independent, we can offer advice and arrange all types of schemes to meet each client's needs, often involving more than one financial institution.

Group Life Assurance

A comprehensive benefits package can be a useful aid to staff recruitment and retention, and in this respect, Group Life Assurance Cover, (also known as death-in-service cover), can be a valuable and cost effective component part of this package. Group life assurance cover is usually designed to pay a lump sum benefit on the death of an employee of the sponsoring employer.

Private Medical Insurance (Group)

With so many concerns over the ability of the NHS to deliver effective services, Private Medical Insurance cover is recognised by many employees as an increasingly valuable employee benefit. Employers can also benefit from the fact that employees are treated quickly and without fuss, enabling them to return to work in a timely manner. For key personnel, it can be beneficial having the ability to select a time and date for treatment to be carried out, causing minimal disruption to the business.

There are an increasing number of products available with several new providers having entered the market in recent years. It is therefore essential that employers seek independent financial advice in this area.

Group Income Protection

Group Income Protection, also known as Permanent Health Insurance or Long Term Sick Pay, is an often overlooked, yet increasingly valuable, employee benefit. Many employers will continue to pay employees for a period after the onset of incapacity. In the event of a long-term incapacity however, the employer, if only for commercial reasons, will be reluctant to do so indefinitely. The employer may then be confronted with an unpleasant moral dilemma, of whether to continue income beyond any contractual obligation period, particularly where a long serving and loyal employee is concerned.
A Group Income Protection scheme can provide an ideal solution to these problems.

Group Income Protection is a form of insurance that is designed to provide employees with a continuing income, payable in the event of incapacity arising out of accident or illness. The benefit will continue until the employee recovers, dies or reaches the previously agreed ceasing age of the policy, which is often selected to coincide with normal retirement age.