It is important to start planning for your retirement as early as possible if you wish to maintain the same standard of living when you retire as you presently enjoy while working.
To achieve this objective you will need to consider the following:
Pensions
Are you currently paying into a pension scheme and are the contributions adequate in order to provide funds for when you retire? Are you making full use of the tax reliefs available? There are several possibilities open to business owners and directors and it is important to obtain expert advice to maximise your position.
Savings and investments
Balancing your estate between yourself and your spouse is very important when examining your tax liabilities. Do you have the right balance between savings and investments taking into consideration your risk profiles?
Life assurance policies
Consideration need to be given to adequate life assurance and whether you have made provision for long term care for you and your spouse in later years.
Exit strategies
If you are in business you will need to consider your exit strategy. There are a number of options that you could consider, such as:
- Withdraw from the business and pass it down to the next generation
- Sell the business externally
- Management buyout
Whatever route you decide to take you need to consider valuing your business and the likely tax implications that will arise on the course of action you make. We will provide expert advice and look at ways of minimising your tax liabilities.
We are highly recommended by our clients so if you are looking for a London accountant that offers professional, friendly and expert advice then we would be delighted to meet you. After our initial free meeting we will provide a quote and are more than happy to discuss fixed fees and telephone support.
Get the advice you need for your business
from the right person in the field
Richard Hogg
Sector Expert
Vishal Sanghvi
Sector Expert
