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Business Owner

Client Profile – Business Owner

Graham and Tracy were successful joint shareholders at a business based in Telford. They were referred to us for advice relating to setting up a Work Place pension.


They had an old pension scheme with an insurance company who were not able to change its rules to become a qualifying scheme. We helped guide them through the process of how to advise the employees of the changes about to take place and set up a new scheme that fulfilled their statutory obligations.


During our conversations it was mentioned that they had their own personal pensions worth around £80,000, they asked whether they should continue with them. After asking a few additional questions it became apparent that they would like to reduce the amount of Corporation Tax that they paid and if possible purchase their own premises on one of the local Business Parks with an asking price of £600,000.


Our Approach

I mentioned to them that they could move their pensions to a small self-administered pension scheme (SSAS) and utilise their annual pension allowance of £40,000 each. They could also use Carry Forward of unused pension allowances from the previous 3 years meaning total contributions could be made of £180,000 each. Subject to the wholly and exclusively rule, the contributions would be treated as a trading expense which would save the company £36,000 in corporation Tax.


With the £80,000 they already had, they would now have a fund of £440,000. A SSAS is able to borrow up to 50% of the schemes net assets, in this case providing an additional £220,000 if needed therefore an asking price of £600,000 was well within their means and provided extra in order to make some alterations and modernise the premises.


The company would make future rent payments to the SSAS, which would be another deductible expense for the company, the SSAS would receive the rent gross with no additional tax liability and if they sold the premises in the future any gains would be capital tax free. The income received would then be used to service the loan and once repaid would boost the retirement fund.


I had a couple of pensions, which I wanted to combine. Having researched local financial advisers, it became clear Crown Wealth and Brian were highly recommended. Brian listened to what I was looking for and then made a solid recommendation. Once agreed everything was implemented as and when he said it would be. I am seeing growth over and above what was forecast and more importantly above ...

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Mr L. – Shrewsbury

I needed to trust someone that would listen to my needs and ensure that the decisions made were the right ones for my long term objectives. Brian took the time to personally review all my financial matters, including my business operations and properties. Brian was then able to forecast my future in order to meet my personal objectives and wealth.  I have regular meetings with Brian and his...

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Mr Williams – Local businessman

We have been meaning to write to you for some time now to thank you for all that you did for J. over the many years you helped her. She held you in great esteem and really appreciated the open and friendly way you helped her. Thank you.

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Mr P. – Somerset

I have neither the expertise nor time to maximise my investment opportunities. To seek professional advice was the best option for my wife and for me. Brian reviewed our combined and separate assets and devised a series of investment options for our appraisal and action. Liquid assets have grown well so far.

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Mr P. – Mid Wales

Required inheritance to be invested. Brian offered me trustworthy advice in a clear manner.

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Mr Jones – Shrewsbury

Both E. and myself have been extremely pleased with the results of the advice you gave us.

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Mr and Mrs G. – Wolverhampton

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