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Business has changed over the years - that’s why we’re refreshing business protection to fit today’s small and medium sized enterprises.

Free business legal advice and tax guidance for your business protection clients

Easy-to-use tools and calculators for you and clients

Business Protection

Legal Status: Sole Trader no accountant

LV= Business Care is available as soon as your clients take out one of our Business Protection products.

Your clients can make use of the LV= Business Care helpline which offers free legal, tax and VAT advice on a number of business and commercial issues including; Health & Safety law, commercial disputes, Tax and VAT relief and current and changes to tax rules.

The case study below shows an example of how the service can benefit your business clients in a scenario with a client completing and submitting his annual tax return. Please note that this is an example only and not based on a real client.

Suited man

Mr Jones

Mr Jones needs to complete and submit his annual tax return. In the most recent tax year he had used his own car to travel to a number of locations on behalf of his clients. Mr Jones is unsure whether or not he can claim tax relief on these business journeys and if so, the correct way to do it.

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Scenario 1

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Mr Jones calls the LV= Business Care line and speaks to a tax specialist.

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  1. Mr Jones is made aware that he could claim tax relief on his business mileage.
  2. The tax specialist also explains two different ways of doing this and the difference between those two methods.
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Scenario 2

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Mr Jones doesn’t seek tax advice using the LV= Business Care line.

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  1. Mr Jones has to engage an accountant to complete his self-assessment form for him.
  2. This costs Mr Jones in the region of £500.
  3. He has also missed out on claiming tax relief on his business mileage.

Background

Mr Jones felt relatively comfortable completing and submitting his annual tax return via HMRC’s self-assessment online service. However, in the most recent tax year he had used his own car to travel to a number of locations on behalf of his clients. Mr Jones is unsure whether or not he can claim tax relief on these business journeys and if so, the correct way to do it.

Business Care solution

As an LV= Business Protection policy holder, Mr Jones phoned the LV= Business Care helpline and spoke to a tax specialist, who was able to confirm that he could claim tax relief on his business mileage. They also explained two different ways of doing this and the difference between those two methods.

The risk?

Without having access to the LV= Business Care tax specialist Mr Jones may have had to engage an accountant to complete his self-assessment form for him, this would normally cost in the region of £500 for a sole trader, dependent on the complexity of the trading activities. He may also have missed out on claiming tax relief on his business mileage.

0800 032 3962

TextDirect: first dial 18001


Business Protection Specialist Team

Option 1 – New and current applications

Option 2 – Underwriting

Option 3 - New agency set up and login queries

Option 4 - Business Protection sales team and quotes

Options 1-3, 8.30am - 6.30pm Mon - Fri

Option 4, 9:00am - 5:00pm Mon - Fri

We may record and/or monitor calls for training and audit purposes.

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK