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28.09.2021

Four key facts about Pensions

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R. A Accounting Consultancy Limited trading as AIMS Accountants for Business Accountant

Four key facts about Pensions

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AIMS Accountants for Business
AIMS Accountants for Business
 
Four key facts about Pensions

 
Pension funds can be part of a business owner’s exit strategy, and if you plan to sell your business to fund retirement, adding large contribution payments into the scheme will increase your total pension, and reduce the capital gains tax on its sale.
 
Pension owners’ key facts include:

1.     Repaying a loan on a property can be tax-efficient if done through a pension mortgage. At the end of the mortgage, the tax-free sum from the pension can be used to pay off the mortgage

2.     Pension schemes include Executive Pension Plans (EEPs), Self-invested Personal Pensions (SIPPs) and Pension Salary Sacrifice allows employees to exchange earnings for non-cash benefits

3.     Retirement financing can also be done other ways such as through an Individual Savings Accounts (ISAs)

4.     Investors will sometimes purchase a commercial property (either their own business premises or an investment) through their SIPP. Boosted by the fact that a SIPP is also able to borrow finance towards a commercial purchase
 
There are also other different ways to utilise your pension, and here at AIMS, we are always looking to help our clients and readers utilise any available opportunity to increase cashflow and income.
 
If you are considering a SIPP, then it is worth speaking to a financial advisor. For anything else from tax to business advice, we are available. Contact your local AIMS Accountants for more information
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R. A Accounting Consultancy Limited trading as AIMS Accountants for Business

A local qualified accountant with over 20 years experience. Working with startups and a broad range of small and medium business. My experience in working with a range of industry sectors means that…
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