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The major focus of anyone running a business is usually the business itself, ensuring that it flourishes, continues to provide a good product to its customer and looks after its employees. There are other considerations for those who have established and driven the company to safeguard their return from the business.
We work with sole traders and business owners to put in place strategies to manage excess funds out of the company for the benefit of the stakeholders in the most tax efficient way possible to ensure that you benefit from your labours and are not solely reliant on the ultimate sale of the business for your future wealth.
Establishing the most tax efficient way of extracting profits can involve structuring income differently or taking advantage of pension allowances to have your business fund your retirement plans.
Pension funds of a company’s Directors can also be used to hold the commercial premises or to refinance the business through loans to the company, each requiring specialist pensions advice to allow business owners to benefit as much as possible from the company.
Preparing to exit a business is far more complex than simply finding a buyer. We can consult on the most appropriate personal tax structures to be put in place to receive the sale proceeds to retain the most from any sale. Cash flow forecasting can be a valuable part of the process to analyse your requirements and decide exactly when you might be able to sell the business and the value you need to achieve so that you can continue to enjoy the lifestyle you want.