Business Planning

Financial Planning is important to secure the future both of the individual owners of the business and for the business itself. We work closely with professional colleagues in Accountancy firms to ensure that you have strategies in place that work for you and your business.

Pay and Pension Strategies for Directors and Business Owners

Getting the right mix of pay, pensions and dividends to meet short and long-term income needs requires a careful balancing act. We will help you identify your objectives and manage the mix to ensure tax-efficiency.

Self-invested pensions can provide a suitable solution for some business owners, using either Self-Invested Personal Pensions (SIPPs) or Small Self-Administered Schemes (SSASs). A self-invested pension can purchase the business premises, or take out a mortgage for the purchase, with the business paying a rent to the pension scheme.

Self-invested pensions are not suitable for everyone, so it is critical to get advice if you wish to consider this route. For more details about this type of pension, see our Pensions page or contact us to discuss this with an adviser.

Exit/Succession Planning

If a business is to continue trading beyond the working life of its key owners or directors, then careful planning is needed. Factors that those involved in the business will need to consider will include:

  • The departing owner/director’s income needs in retirement and what resources are available to provide for those needs.
  • The feasibility of the business without the individual – the impact on customers and investors and what effect this will have on its viability.
  • CAPITAL GAINS TAX and INHERITANCE TAX (IHT) implications on any sale or transfer of shares in the business.

We will work with your accountant or other advisers to ensure that the right pension and investment arrangements are put in place to achieve the objectives of both the departing director/owner and those in whose hands the business has been left.

Contact us for a preliminary discussion about those objectives and to set up a programme for a successful transition.