Harris Lipman Wealth Management

Business Financial Audit Checklist
The 5-Minute Financial Healthcheck

The 5-Minute Financial Healthcheck

Business Financial Audit Checklist

Please complete and submit the below form and a member of our team will get back to you.
Ltd = Limited Business SE = Self Employed

Business Insurance

Risk

Insurance available

Covers

Advice from

In place?

Company Cars/Vans involved in an accident or stolen	Ltd - Fleet insurance	Accidents, Fire & Theft	Financial adviser & commercial insurer	Yes No
Company Cars/Vans involved in an accident or stolen	SE - Car insurance with business cover	Accidents, Fire & Theft	Standard car insurance providers	Yes No

Client's suing the business for injury or damage to property

Public
liability

Injury to people and property you visit or that visit you

Financial adviser & commercial insurer

Yes
No

Client's suing the business for poor advice

Professional indemnity

Losses and damages resulting from poor advice

Financial adviser & commercial insurer

Yes
No

HMRC conducting a spot check on the business

Tax & VAT protection

Accoutants fees for providing and defending all information required

Accountant & commercial insurer

Yes
No

Damage, fire or theft at the business property

Home insurance and/or commercial insurance

Stock loss and damage, damage to premises & business interruption

Financial adviser & commercial insurer

Yes
No

An employee suing the company / director / business

Employment dispute cover & director cover

Employment disputes and directors being sued

Commercial insurers

Yes
No

Business Protection

Risk

Protection available

Covers

Advice from

In place?

Long term illness of the business owner	Ltd - Key person income replacement	Payment of a monthly income to the business	Financial adviser & accountant	Yes No
Long term illness of the business owner	SE - Personal income replacement plan	Payment of a monthly income to the life assured	Financial adviser & accountant	Yes No

Citical illness of the business owner	Ltd - Key person critical illness cover	Payment of a lump sum to the business	Financial adviser & accountant	Yes No
Citical illness of the business owner	SE - Personal critical illness cover	Payment of a lump sum to the life assured	Financial adviser & accountant	Yes No

Long term illness of a key employee	Ltd - Key person income replacement	Payment of a monthly income to the business	Financial adviser & accountant	Yes No
Long term illness of a key employee	SE - Personal income replacement plan	Payment of a monthly income to the life assured	Financial adviser & accountant	Yes No

Critical illness of a key employee	Ltd - Key person critical illness cover	Payment of a lump sum to the business	Financial adviser & accountant	Yes No
Critical illness of a key employee	SE - Personal critical illness cover	Payment of a lump sum to the life assured	Financial adviser & accountant	Yes No

Death of the business owner (sole director or self employed) or key employee	Ltd - Key person life cover	Lump sum paid on death to continue /wind-up date	Financial adviser & accountant	Yes No
	SE - Life cover	Lump sum paid on death to continue /wind-up date	Financial adviser & accountant	Yes No

Death of a business owner (with 2+ directors/ shareholders)	Ltd - Director/ share protection	Lump sum paid on death to allow purchase of the decease's shares	Financial adviser & accountant	Yes No
Death of a business owner (with 2+ directors/ shareholders)	SE - n/a	n/a	n/a

Protection plan paying out on death, but there are no instructions

No insurance, but use wills and trusts

Provides instructions legally on how to proceed with death benefits

Financial adviser & solicitors & will writers

Yes
No

Business Benefits

Benefit

Plan available

Providers

Advice from

In place?

Private healthcare	Ltd - Company provate healthcare	Fast access to private hospitals	Financial adviser & accountant	Yes No
Private healthcare	SE - Personal private healthcare	Fast access to private hospitals	Financial adviser & accountant	Yes No

Payments into a pension plan for the business owner	Ltd - Personal pension	Employer pension contributions	Financial adviser & accountant	Yes No
Payments into a pension plan for the business owner	SE - Personal pension	Personal pension contributions	Financial adviser & accountant	Yes No

Payments into employees pensions	Ltd - Group & personal pension	Employer pension contributions	Financial adviser & accountant	Yes No
Payments into employees pensions	SE - Personal pensions	Employer pension contributions	Financial adviser & accountant	Yes No

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Harris Lipman Wealth Management, 2 Mountview Court, 310 Friern Barnet Lane, London, N20 0YZ.
Tel: (020) 8446 9000 - Fax: (020) 8446 9537 - Email: advice@hl-wealth.co.uk

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Harris Lipman are an introducer appointed representative of AWD Chase de Vere Wealth Management Limited,
who are authorised and regulated by the Financial Services Authority.