Corporate Retirement Planning Wilmslow
Do you understand what Wilmslow corporate retirement planning, means for you as the owner of a business?
The first thing to arrange for your employees retirement planning is a workplace pension scheme that is suitable for them all. This is because new legislation makes it the responsibility of the employer to ensure a workplace pension is in place. The employer then has to pay into the scheme for each eligible employee, records of these transactions much be kept and maintained ad infinitum.
Wilmslow Corporate Retirement Planning for Directors and Shareholders
For the directors and shareholders when it comes to Wilmslow corporate retirement planning there are a number of opportunities that can be implemented to fund retirement that would also reduce your corporation tax. The highlights of these are blow:
Self-invested Personal Pension (SIPP)
You are allowed to own a number of differing types of assets. You can own company shares, property, cash, bonds and may others. Such a remedy is a great option for those businesses who want to buy the property from where they operate and then make regular rental payments to the SIPP for the company.
The SIPP is allowed to buy unquoted shares in a non-related organisation as well, therefore you can use the pension savings to buy in another business as an investment. These rules can be complicated so expert guidance from a Wilmslow IFA or a Wilmslow Corporate Financial Adviser is a must.
Self Administered Scheme (SASS)
Similar to a SIPP although here you can make a loan (up to 50% of the value of the SASS) to the business to help with financing.
Business property relief (BPR)
Funding your retirement from selling your business is possible. A qualifying claim for BPR can decrease tax liability on the sale and offset inheritance tax on the amount earned after a short two-year period.