Director's Pension Planning

Are you using your business to plan ahead tax-efficiently?

Pensions remain one of the most tax-efficient ways for business owners and company directors to save for their retirement.

What is Director’s Pension Planning?

Understandably, many business owners wish to use their money to invest in their business and often see their business as their pension. But relying on the eventual sale of your business could be risky.

A pension plan for the business owner or key executive is a way of extracting profits from the business now, without paying income tax or national insurance contributions, at the time the pension contributions are paid in to the scheme.

Contributions are treated as a business expense and can help reduce corporation tax.

How does it help me and my business?

Retirement is something to look forward to and whether it seems like a long way off or you are hoping to retire soon, there is nothing more important than being prepared. Latest government statistics indicate the life expectancy of a 65 year old is 86 for women and 83 for man. Have you saved enough? Nearly one-in-five over 65 year-olds is still in work and has no idea when they will be able to retire. 

The basic state pension is just £102.15 per week. Could you live on that? If the answer is no then you will need to start making your own provision, otherwise you may be forced to work much longer than your anticipated retirement age.

Call us for a review of your pension planning and secure a happier retirement.

Contact Us

17 Horseshoe Business Park
Upper Lye Lane
Bricket Wood
St Albans
Herts
AL2 3TA

Tel: 01923 517 117
Fax: 01923 856 877

jason@blossomfinancial.co.uk