For the entrepreneurial company director or self-employed owner-manager, we can provide advice on setting up small pension schemes not only to fund your own individual pension pot, but also to provide a flexible and tax-efficient vehicle to assist in achieving business economic success.
Employer contributions to the scheme will reduce taxable profits and the funds within the scheme may be used in a variety of ways to assist the business. These include the ability to invest in the company via secured loans or hold company shares. The scheme may also purchase the company premises to lease back to the company in order for the property to be held in a tax-free environment (the rent paid to the scheme will further reduce taxable profits for the company). As the pension scheme can also borrow additional funds, this can help provide further liquidity for the company.
With good planning advice you could make the scheme work for your business by saving tax and providing additional finance, while building up a pension fund to benefit you and your family in retirement.
We can help to ensure you meet your obligations under UK law in providing Stakeholder or Group Personal Pension Schemes for your employees. These can act as a legitimate business expense as well as a powerful recruitment tool. You might also like to discuss salary sacrifice arrangements, where employees give up a taxed salary in lieu of employer pension contributions that reduce taxable profits and employer National Insurance costs. These savings can then be shared between employer and employee.
If you would like to arrange a meeting or for more information, please contact us today.