For business owners
Don’t let business risks affect your personal wealth.
Many business-owning clients seek to transition money smoothly and efficiently from company assets to personal holdings.
Our role is to help you with this process, providing guidance and advice when required.
How we can help
We offer comprehensive advice on how to optimise your business arrangements so they’re fully in line with your personal finances.
We can help you move your profits out of the business in the most tax-efficient way possible.
We can also offer advice on investing within your business, or suggest the best home for your money once you have transferred it out.
Protect your business against the unexpected.
Case Study
Mr and Mrs S's business planning journey
Many of the clients that we advise are currently, or have been, successful business owners. One of the issues that comes with success is ensuring that the way you remunerate yourself is tax efficient so that a punitive rate of tax doesn’t eat into the hard work you’ve put into building a profitable company.
A family business that we work with had employed Mr and Mrs S as directors and were paying themselves a salary. They had the knowledge to keep their remuneration below the higher rate tax threshold, but this was the extent of their planning.
By working together with their accountant, we were able to make several changes to target tax efficiency and also to support them to plan for the future also. Firstly, the structure of their remuneration was altered to include part salary and part dividends. Such a change meant that Mr and Mrs S continue to build state pension entitlement but experienced a dramatic reduction in the income tax that they were paying.
We were also able to start making company pension contributions to each of their private pensions. Such payments, if made in the correct manner, qualify for corporation tax relief for the business and begin to build a retirement portfolio, which is particularly pertinent with one eye on retiring from the business in a few years’ time.
As such they are in a better position than they were when they originally came to see us and have a well-defined, and budgeted, plan to retire.
