Retirement strategies

Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:

Exit strategies

If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business? Are you aware of all the tax implications of the timing of disposals?

Entrepreneurs' Relief for owners of trading businesses and companies has been increased to £10 million with effect from 6 April 2011.Tax planning for sale of a business when capital gains tax of only 10% is paid has never been more important!

Pension provision

Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

Self Invested Personal Pensions (SIPPs) are now established as an important part of tax planning.

Savings and investments

Do you have the right balance between savings and investments, and between high and low risk exposures?

Risk is the "watch word" in these days of market volatility and low interest rates.

Life assurance and long-term care

Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years?

We can help you answer these questions and recommend solutions tailored to your particular needs.