Self-employed couples often neglect pension provision altogether. Variable income and no employer scheme to enrol you into make it easy to put off, even though it's one of the most tax-efficient ways to take money out of the business.
Working out a contribution level, flexible where it needs to be, that suits both of your retirement plans and what you can actually afford.
Company pension contributions can reduce corporation tax and avoid the personal tax and National Insurance that dividends attract.
Liaising with your accountant to formulate suitable one-off or annual contributions when profits allow, rather than a rigid monthly figure.
Keeping you on track year to year, and adjusting contributions as your income and circumstances change.
Access to very competitive fund and platform charges, so more of what you contribute stays invested.
What follows is an illustrative scenario rather than a real client case, showing how the numbers can work.
Self-employed and partner-run businesses often neglect pension provision altogether. There's no employer auto-enrolling you, and when income varies year to year it's easy to keep putting it off. We start by working out a contribution level, flexible where it needs to be, that fits both of your retirement plans and what you can genuinely afford, rather than a fixed monthly figure that falls over the first time income dips.
Illustrative example only, based on a typical scenario. Figures are not a quote and individual circumstances vary.
For directors of partner-run limited companies, paying into a pension directly from the business is one of the most tax-efficient ways to save for retirement. A director planned to take an additional £10,000 as a dividend. Taking it instead as an employer pension contribution reduced the company's corporation tax bill and avoided personal dividend tax entirely.
Illustrative example only, based on a typical scenario and current tax rules, which can change. Figures are not a quote and individual circumstances vary.
Rather than a rigid monthly amount, some clients prefer to make a one-off contribution once year-end profits are known. In liaison with your accountant, we work out what the business can comfortably afford that year, and check whether unused allowance from previous years can be carried forward to make a larger one-off contribution possible.
Illustrative example only, based on a typical scenario. Figures are not a quote and individual circumstances vary.
A high charge quietly erodes a pension over decades, and older or poorly-chosen plans are often more expensive than they need to be. We use platforms and funds with very competitive charges, so more of what you and the business contribute stays invested rather than being absorbed in fees.
Illustrative example only, based on a typical scenario. Figures are not a quote and individual circumstances vary.
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