Who are Clayton House?
Clayton House has been set up by Antrams Financial Services (www.antrams.com) a firm of IFAs and Accountants. Clayton House Ltd is a special purpose vehicle (SPV) used to acquire IFA firms/client banks in a tax effective way
What happens if I die during the 10 year period?
The contract includes a clause to pay the income for the balance of the term to your estate
What happens if you replace the business that is providing the renewal/trail?
Your income is ring fenced up to the level of the original renewal/trail figure
How will I keep track of what income is coming in?
You will receive a monthly statement with all the cases individually shown
How often will I receive an income?
What happens if you do not pay me?
In the unlikely event you do not get paid you will have the contractual ability to novate your clients to another provider
Can I stay in the industry?
Yes, but you must deregister your adviser status with the FSA
What if one of my clients complains about past advice?
We are not responsible for the advice you gave, Clayton House will acknowledge the complaint and inform the client of the options they have, and who to contact to register their complaint
How long will the process take?
We will work with you to your timescale; this can be as little as a few weeks, or over a longer period to suit you and your clients.
How do I qualify for only 10% tax on the income?
Due to the way we can structure the revenue and our close partnership with our accountancy practice, as long as Entrepreneurs relief is still in place you should only pay 10% on the transaction
How will my clients be dealt with?
We will be guided by you, but the agreed service will include personal introductions to your priority clients and all clients contacted regarding the changeover in writing with the confirmed level of service going forward. We will agree the service proposition with you
I have administration staff; can they continue to work with you?
We can of course discuss this but it will be your responsibility to deal properly with the employment law issues and if required pay the required level of redundancy pay. There are issues around the TUPE rules and you will need to take professional advice as these need to be dealt with carefully
I have some clients who pay me a regular fee, can this be included in the Clayton House income?
If the clients have signed a fee agreement that covers an ongoing payment then this will be included
My clients are held within a limited company, will I still qualify for entrepreneur’s relief?
For you to still qualify this becomes a two step process but we can still assist you/your Accountant with the structure of the transaction
Can I join Antrams financial services to trade from and use your compliance and office services whilst I work with you to exit from my business?
Yes, we offer very competitive terms, dependant on if you want to use our offices and administrative support, or wish to remain in your offices until you decide to retire