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OTHER CONSIDERATIONS
Once you have made your - to cover your premises Without the right
business plan, checking against fire, flood, etc. type of insurance the
every aspect of your - loss of profit due to survival of your
business and deciding inter- ruption to your business could be
whether or not you need business activity threatened.
help with the finance you - damages for injury to The Barclays Group
can provide all the
need to consider some an employee, customer or
protection you need.
other areas, two of which supplier while on your
are insurance and taxation. premises
Taxation
It is important that you - your own inability to
It is very important to
understand the implica- work due to serious
you to make sure that
tions of both of these from illness or injury
you pay no more in tax
the beginning since failure - any special risks which
then you are actually
to do so could result in apply to your particular
obliged to pay,
serious repercussions for type of business
although you are of
your business later on. - loss of life - what
course legally obliged
happens to your family in
to provide accurate tax
Insurance the event of your death
returns. Poor record-
It is very important that
- share protection - will
keeping, inadequate
you take out adequate
you retain control of your
understanding of
insurance to protect your
business if your partner
available tax relief,
business's future. This
or a fellow director dies.
and lack of the right
should include protection
advice can all lead to
against:
paying excess tax. The
- the cost of replacing
purpose of this section
stock or equipment
is to examine some of
which is lost, stolen or
the issues - what sort
damaged
of taxes you might
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