Continuity in one of the key elements for any business to survive and thrive.

Lasting Powers of Attorney (LPA) for business owners.

Most business owners do not think about what would happen to their business if they became incapable of running it or making those important day-to-day decisions through physical or mental incapacity.

If you were to lose capacity, your bank could restrict access to your personal and business accounts until someone has the legal authority to act for you.

Without a Lasting Power of Attorney (LPA), an application would have to be made to the Court of Protection in order for someone to be appointed as your deputy. This process usually takes many months and the costs can be extremely high.

The consequences for your business could be catastrophic…

If orders need to be fulfilled, bills and wages paid, having someone that has the authority to deal with these matters is essential.

A Business LPA is essential

A Lasting Power of Attorney lets the person you trust step in and manage your financial affairs if you can't, without the cost and delay of a court application. Registering one with the Office of the Public Guardian costs £92.

This article is general information for England and Wales, not legal or financial advice, and the rules can change. Please seek personal advice about your own circumstances. Last updated October 2026.