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"Focussing on my company's core business was becoming increasingly difficult. Working with H&R Wealth Management, we formulated a strategic plan for expansion and created a more stable organisation." |
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Director’s Pensions Provided that the company produces more than enough profits to meet the income needs of the owners the disposal of the surplus is largely a matter of tax planning. In brief it is possible to reduce your Corporation Tax, Income Tax and even National Insurance liability by careful use of pensions. At the same time you can create a private fund that can lend money to the company (as a very attractive alternative to banks, and in which all your interest payments go straight back into your pension fund), buy corporate property, and even be used to smooth the transfer of the company from the older to the younger generation. The actual detail as to what can be done for your own company and aims depends on many factors, including the ages of the controlling directors, their individual aims, their existing pension arrangements (certain older schemes have great advantages that we would seek to take advantage of), as well as the level of assets available to build the fund. Staff Pensions Now that businesses with more than 5 employees must offer access to a pension scheme many suffer unnecessary additional administrative costs depending on the pension provider. As a director you should be aware that some pension providers are able to turn the cumbersome administration of running a scheme into a 5 minute monthly job. At H&R Wealth Management we recognise the importance of providing a pension scheme to your staff in the most efficient and cost-effective manner.
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