This is an important and sometimes forgotten part of business owners and major shareholders planning strategy.  It will encompass and impact on your saving for retirement.  Many business owners dream is to stop work, instantly access pension benefits at a selected retirement age and sell their business, with sufficient funds to allow a comfortable lifestyle.

Regrettably, this is not always possible.  Careful planning well in advance of retirement is normally required.  Consideration needs to be given to all aspects of savings, investment and pension strategy, whilst also looking to maximise the value from the business to assist in achieving your retirement goals and reducing any tax liability.

McCrea Financial Services, in conjunction with your existing business professionals; possibly your accountant and solicitor can help you plan to achieve your goal.

Initially, we would assess the business and the key risks.  A review of your existing exit plan would also be required.  This may include succession planning for your family, trade sale, management buyout, wind up or hiring a trusted management team to run the business whilst still retaining your shareholding, which would hopefully produce dividends.

We would also advise you on the bigger picture allowing you to consider the interaction of the business with your existing retirement income plans, inclusive of your savings, investment and pension planning.  This will highlight the options available to you, the tax-efficient ways of extracting cash and planning your long-term goals.

If you'd like to make an initial free no-obligation appointment to establish or review your plans, you can contact us by email or by calling the office on 0141 572 1340. 

McCrea Financial Services is Authorised and Regulated by the Financial Conduct Authority.