Submitted by admin on Thu, 01/27/2011 - 10:34

 

Corporate and Employee Benefit Schemes

Richmond has a dedicated team who administer a wide range of cost effective, flexible remuneration and incentive schemes for executives working in the UK and globally. These schemes include:

• Employer Financed Retirement Benefit Schemes (EFRBS) (Formerly known as Funded Unapproved Retirement Benefit Schemes FURBS)
• Employee Benefit Trusts (EBT)
•  Performance related share option schemes
• International pension schemes

The benefits provided by the above schemes vary but include:

• Provision of lump sum pension payments at age 50 (subject to scheme rules)
• Motivating and retaining key employees
• Death or injury compensation during service
• Permanent health insurance to provide regular payments to employees unable to work through illness or accident
• Tax deferral depending on structure used

Richmond works with a network of suitably qualified professionals to ensure that the client receives the proper advice to ensure that the correct scheme is created to suit their particular requirements. Once the scheme is established Richmond can provide the following services:

• Provision of corporate trustees
• Establishing subsidiary companies for investment purposes
• Arranging bonuses or loans to members/beneficiaries
• Arranging introductions to third parties including Lawyers, Bankers, Estate Agents/Valuers and Investment Managers etc.
• Accounting services.

Richmond has established a QROPS (Qualifying Recognised Overseas Pension Scheme) pension scheme. There has been much publicity surrounding the misuse of QROPS and as a result Richmond has taken legal and accountancy advice in both Guernsey and the UK to ensure that the scheme was established in such a way to meet all the necessary criteria for approval by the Tax Authorities in both Guernsey and the UK. Further information on this scheme will be provided on request.