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Business Continuity aka Business Succession

(Access webinar below)

What is it?

A Business Continuity Plan (BCP) helps your business survive various types of disruption events. This could include fire, flood, cyber-attack, loss of a key supplier, regulatory changes through to loss of key employees and shareholder-Directors.

The BCP would be prepared by the Managing Director in consultation with key department heads to identify the potential consequences an incident can have on different parts of the business.

Why is it important?

It’s important for your business to be in the best possible position to navigate crises to ensure the value of the business is protected as much as possible. This is even more important where the business is critical to the lifestyle and ambitions of your family.

Without a plan, you risk paying higher taxes on any future sale, devaluing your business, or liquidation at worst.

How we Help?

As you can appreciate a BCP can require a multitude of professionals. We take our role with our clients very seriously, should they have pain points that need addressing that we cannot address directly, we will use our extensive network experts, some retired, to assist with guidance, formal advice, and implementation.

We focus on the loss or incapacity of a key shareholder-Director. This may include the following services; we’ve stated which of our corporate brand is involved in aspect in brackets:

  • Business Lasting Power of Attorneys (BLPAs): Slightly different to the personal Lasting Power of Attorney (LPA) Property & Finance, the BLPA empowers your chosen attorneys to only be able to make decisions relating to your Business. (ADL Estate Planning)
  • Business Trusts: A specifically set up discretionary trust via the will which would be populated by any shares that qualify for Business Relief only. This is crucial to ensure the full inheritance tax (IHT) exemption is achieved. (ADL Estate Planning)
  • Cross Option Agreements: This is sometimes referred to as a double option agreement. It gives the surviving shareholders the option to buy the shares from the personal representatives. It also gives the personal representatives the option to sell the shares they now hold. Hence double option or cross option. So, if either side wants to exercise their option, the other party must comply. Options can only be exercised after death and there will be a specific option period. (ADL Estate Planning)
  • Shareholder Protection Trusts: The proceeds of a correctly set up life policy would be paid into this trust. The beneficiaries would be the family of the surviving directors. Once the Cross Option is exercised the inherited shares in the Business Trust transfer to the Shareholder Protection Trust(s) and the life office proceeds transfers into the Business trust. Don’t try to do this yourself. (ADL Estate Planning/ADL Wealth)
  • Relevant Life Cover: This is a life policy taken out by the company. It’s deductible for corporation tax purposes. It ideally should not be used to buy out the deceased shareholder but to meet other lifestyle needs for the family of the deceased. (ADL Wealth)
  • Whole of Life Cover: Consider this as a long-term savings plan which is guaranteed to pay out a lump sum on death provided you maintain your premiums. The company could pay for this but it wouldn’t be deductible for corporation tax. It’d be classed as a P11D benefit aka Benefit In Kind (BIK). (ADL Wealth)

You can access our 69min webinar on Business Succession below.

You can access our 1-page PDF on the “Top 5 thing you need to be thinking about before selling a business” here.

For an initial consultation, book an initial consultation below. 

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    Learn more about us and how we are likely to support you and/or your business.


    Do you fit our client profile?

    Would you say 'yes' to one of the following?



    Do you earn more than £120,000 per annum?


    Do you have a property portfolio of 5 or more  properties? Or are you an ambitious property entrepreneur?



    Do you have assets of at least £2.5M, or are projected to have so at death?


    Do you have a business that is likely to still be trading on death?

    Success Stories

    See more reviews on TrustPilot

    ADL has been a delight to work with. Extremely knowledgeable about the subject of IHT, but also how this technically fits into the bigger picture and wider wealth planning.
    - Rob, Independent Financial Adviser