The directors were looking to:
We explained the advantages of employer pension contributions compared to personal ones – highlighting the immediate corporation tax relief available and how pension contributions can serve as an efficient method of extracting value from the business.
We also explored how combining personal and company contributions could offer flexibility and planning opportunities in the future.
We worked closely with the directors to ensure they understood the practical and strategic benefits of their decision. This included outlining how the pension contribution would impact their tax position and retirement savings over time.
We liaised with the company’s accountant to confirm profit levels and ensure the pension contribution was both viable and sustainable. This collaborative approach ensured that the advice was implemented efficiently and aligned with the company’s financial position.
The directors were able to make the pension contribution they had hoped for, securing a meaningful boost to their retirement savings while also lowering their corporation tax bill for the year.
