PENSIONS & RETIREMENT
Following major changes announced at A day on the 6th April 2006 the pensions landscape has changed significantly. The pension choices have as a result of these changes expanded considerably.
The possibility of building up much larger amounts in pension funds now exist since much more generous provision is tax deductable. This is likely to incentivise both employers and employees as well as the self employed. The possibility of managing your own fund is also likely to be a lot more common as more and more people realise the possibility of controlling their own future pension.
A great number of possibilities of what you do with your fund after your normal retirement date have also been added with the changes in the new pensions legislation. Aspin can provide guidance on most money purchase schemes where you can take advantage of the many changes in these new regulations.
When you sell a business to retire, either in part or whole, your future income is likely to be affected. In addition to your pension rights you will need to consider what income can be generated from the sale of your shares in the business as well your other investments.
The possibilities for tax planning in this situation is obviously a major concern to many business owners. What should be your strategy to maximise your profit from the sale of the business ? How can you minimise your liabilities?
Aspin are able to help by giving guidance on possible future outcomes of different investment strategies. We have also developed a sophisticated financial modelling programme to give you a good overview of your likely future financial position following any sale. This can give you invaluable help in timing the sale of the business.
Please contact us for further advice concerning the investment implications of selling your business.