Planning for Owner Directors

All too often we meet with owner directors who for years have worked closely with accountants, believing that taking salary and dividends is the most tax efficient method of drawing profit from their business.

However, as an Owner Director you have hugely tax efficient, legitimate methods of extracting profits from your business. Arranged properly these can help build your Retirement funds and protect your liabilities on the way.

Did you know?

Arranged properly, paying an employer Pension contribution into your Personal Pension using company profits is an allowable business expense. This allows you to draw profit from your business (into your own name), without liability to Corporation tax, Corporate National Insurance, Personal National Insurance or *Personal Income tax.

*Personal Income tax is payable on 75% of your Pension when you eventually draw it.

Other Benefits

Growth on your Pension investments is tax free
Proceeds can be accessed from age 55 (moving to age 57 in 2028)
You can withdraw 25% of your Pension value as a tax-free lump sum at any time from age 55 (without having to draw a Pension income)
In the event of your death, proceeds can be passed to your family, or anyone else of your choosing (free of income tax if you die before age 75)
Your Pension fund is normally held outside of your estate for Inheritance Tax purposes

We are sure you will agree that these features compare favourably to many other forms of saving.

At JMA we can help Owner Directors arrange effective solutions for:

Pension Planning
Relevant Life Insurance
Key Person Insurance
Shareholder Protection
Business Loan Protection

Protection

As one would imagine, there are many types of Protection Policies to choose from.

Research Tools

Use our helpful calculators for your financial planning

Estate Planning

Our inheritance tax calculator will help you calculate any potential inheritance tax liability.

In Retirement

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In Retirement

Knowing roughly what you can expect from your pension contributions in the long run can give you the opportunity to adjust your retirement savings.

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What customers say

My wife and I have been personal clients of JMA for all it’s 25 years. The cyclical nature of our economy has meant several periods of national financial turbulence and anxiety. Such a long association has enabled the soundness of the advice given, to be demonstrated by the performance achieved.

Trevor Phillips, Surrey

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