Retirement Planning

The options for funding retirement have opened up considerably recently which gives us all more choice and therefore more choices to consider.

We can help by making sure that your retirement planning can support your lifestyle and that you are  able to take full advantage of the reliefs available.

We work hand in glove with our handpicked independent financial advisers (IFAs) who can guide you through the impact of your investment decisions. 

Tax planning strategy for high earners

When planning for retirement it is always best to start early, and not just because that gives your funds time to grow. By being clear about what you want your retirement to look like, the more likely it will be that you are make fully informed decisions that guide you towards that goal.  It gives you time to overcome any economic setbacks or lean years. Although pensions are the obvious choice for saving for the future, there are caps on your annual contributions and on the overall size of your pension pot.  We can suggest other tax advantaged options for savings.

You will hear a lot of talk about pension freedom and being able to access your pension pot tax free, and whilst this may be possible this does not mean that it is the best option for you and sensible balanced advice is a must.

Tax efficient pension and retirement funds

We work with our IFAs to ensure the tax efficiency of your investment, whether that is in pensions or other retirement funds.  Together we help you plan for the future needs of you and your family. We can also liaise with your existing IFA to provide joined-up advice about the future.

Moving abroad

For many of us, the lure of sunnier climes is what retirement is about. We are experts in residential property and can help you make the right decisions regarding your property, whether you are buying a second home abroad or making a move overseas for good.

Selling the business

As you look to wind down, we can help ensure that you benefit from the relevant reliefs that are available to entrepreneurs and business owners who have spent their working lives building a business. Early preparation in advance of a sale allows us to identify and smooth out any wrinkles in your structuring. Ideally, we should be talking about your plans at least two years before you sell your business. However, if you need to sell suddenly because someone has made you an offer you cannot refuse, we can help too.

Passing on the family business

We are family business advisers and can help with the delicate issues surrounding passing on a family business and how to structure the involvement of the next generation to best effect. Again, we would suggest it is better to consult us sooner rather than later. Passing on the family business is not just a matter of tax, but of getting comfortable with the decision to hand over responsibility to other members of the family or even outsiders and dealing with the change in family dynamics that this can bring.

Funding long term care

With life expectancy extending, funding long term care is becoming more and more significant as part of your retirement plans. We can discuss your wishes and how to plan for the financial implications of care, be that in your own home or moving to a specialist home. Decisions on your care needs should be driven by your best interests and not finances, so planning is essential.

Estate planning

Few of us want to saddle the next generation with any shock tax bills after we are gone. We look to the future and work to minimise the Inheritance Tax liability when you pass on your wealth to the people you want to benefit.

How we’ve helped:

• Helped a family to restructure and change the nature of their business so as to meet the needs and interests of the next generation.

• We worked with the shareholders of a group where the founder was retiring, exploring their options and their wishes for the future. It was a journey whose destination ended up being quite different to that expected at the outset, being led by commercial and personal considerations as much as tax. By the end we had a tax efficient solution that fitted with each shareholder and their future.