Wealth Protection & Inheritance Tax Planning

Protecting your wealth with a Lifetime Business Tax Plan

As a business owner, it is imperative to think about protecting your wealth for your family, business succession, and building a legacy so that your hard work does not go to waste.

A Lifetime Business Tax Plan is an all-in-one solution to protecting wealth at the same time as growing it for the generations to come. It is made up of two structures, both of which facilitate optimum tax efficiency and inheritance benefits: the Family Investment Company, and the Small Self-Administered Scheme (SSAS).

The Family Investment Company element of the plan means that your company shares and assets are held in trust for your beneficiaries. For business owners, it is a more appealing alternative to a traditional trust arrangement, providing extensive flexibility and Inheritance Tax benefits. It is a tax-efficient way to protect wealth, hold assets and pass them down through the generations. It also simplifies succession.

Meanwhile, a SSAS can have up 11 members, which can include employees or family members, automatically making them trustees. Assets held in a SSAS are ring-fenced outside of your estate, meaning they are not liable for Inheritance Tax when you pass.

Moving excess retained company profit

What many business owners fail to realise is that by investing or even holding excess company cash in their trading company, they risk being deemed an investment company by HMRC. By moving your retained company profit into a Family Investment Company, you remove the risk of incurring a 40% tax charge for your family and protect Business Property Relief (PBR) for your trading company. It also allows you to invest this company cash in the asset classes you choose, including property, all within HMRC rules.

Any profits that are made from investments are then liable for Corporation Tax, as opposed to the higher rates of Capital Gains or Income Tax, as would otherwise be the case. This alone, creates significant tax savings, thus ensuring more of your hard-earned money goes to your family rather than the tax man.

Receive old, frozen, and dormant pensions

A significant benefit of a SSAS is that it can receive your dormant, frozen or current pensions, which can then be invested in your trading company, property, or other asset classes. Moreover, family members and key employees are also permitted to pool dormant or current pensions to increase the investment potential of the SSAS, with each member retaining the percentage value of the pot that they put in, as it grows.

By taking control of your own pension funds, combining them and pooling with others, you have far more power and flexibility to invest, loan to your business, create aligned strategies for all your funds and ensure your wealth is protected for your family.

Maintaining control during your lifetime

Surplus cash remains under full control of the company director and is moved into the Family Investment Company, which is also fully controlled by the company director. Cash can be returned to the main trading company at any time, should a cash injection be required. If the director chooses to invest the cash, then the returns can be paid into the SSAS without a tax penalty. The SSAS is also controlled by the members of the scheme, giving you full control, with the long-term beneficiaries of both parts of the plan named should the worst happen.

Grow your pension whilst leaving a legacy

The beauty of a SSAS pension, when it comes to inheritance planning, is that not only can you use it yourself, but you can also still grow and leave a legacy for your family.

The SSAS can be used as a tax-efficient wrapper to vastly grow your pension pot. Trustees can invest in all investments allowed by other pensions, plus a whole host of other investments. Some schemes invest directly in the business premises or any other valid business purpose, to great tax advantage; others might invest in other commercial property or indirectly into property loans to an unconnected third party. As part of the Lifetime Business Tax Plan, you can also make investments with the Family Investment Company, then move any investment profit into the SSAS to mitigate tax, ensuring more funds for yourself and your family.

Upon the death of a SSAS member, benefits within the SSAS can be paid to your beneficiaries.. These do not form part of the estate as they are owned by the SSAS and are being held in trust, therefore, not liable for Inheritance Tax. Whilst there are still funds within the scheme, the whole SSAS can continue to be passed down through the generations. With the correct investment strategy, the SSAS pot will continue to grow in a protected, ring-fenced environment.

At TPLI, we know that every company director’s situation is different. A Lifetime Business Tax Plan is the perfect tax planning structure that can be tailored to individual circumstances, allowing you to achieve the goals that are most important to you and your family. Speak to one of our experts today to find out how we can help you put the right strategy in place to protect your wealth and reduce Inheritance Tax.


Our clients rate us as 5 star, here’s what they say:

We have recently used this excellent company to set up a Family Investment Company. The complete process was seamless with our personal contact Jordan Sharpe explaining all the steps along the way in a very confident and professional way. They really do deserve this 5 star review.
Keith Jones
Keith Jones
Tlp have been fantastic with there advice and help in setting up my retirement plans , putting structures into place to help with future generational hand over of assets, great advice from Jordan Sharpe, easy to deal with and always on hand for help when needed, well done all, 👏 ✔️
Stewart Yardley
Stewart Yardley
Trustworthy Financial Advice with an Eye on the Future. I recently sought financial advice, and trust was my top priority. TLP not only met my expectations but exceeded them. Although their product didn't suit my current needs, their dedication to providing comprehensive information and support left me confident in utilising their services in the future. TLP's commitment to customer satisfaction was evident from the moment I approached them. They patiently and thoroughly discussed all available options with me, ensuring I understood the pros and cons of each. Despite not making an immediate sale, they generously shared their time and expertise, demonstrating a genuine interest in helping me make the right decisions. What impressed me the most about TLP was their transparent and honest approach. They didn't try to push any product on me that wouldn't serve my current financial situation. Instead, they focused on empowering me with the knowledge I needed to make informed choices. Their willingness to prioritise my needs over immediate profits spoke volumes about their integrity. I left my interaction with TLP feeling informed, confident, and assured that when the time is right, they will be my go-to financial advisory service. The trust they have established with me through their professionalism, dedication, and genuine care for my financial well-being is unparalleled. I have no hesitation in recommending TLP to anyone seeking trustworthy financial advice.
Robert Sidebottom
Robert Sidebottom
I was looking at setting up a Family Investment Company, during which I’d paid more than a few hundred pounds for a couple of Consultations. After which I’d received some rather expensive quotes for setting it up, as well as getting lots of complexed information about the process. Then I eventually stumbled across TLP while doing some related research. I was pleasantly surprised and more than pleased that they offered a No cost consultation. During which Lewis Jones, was able to simplify all the information and subsequently provide a much more realistic quote for the process. Not to mention the first year’s company accounting services that came for free and the ongoing advice from Lewis. Which has not only been financially beneficial, but as proved to be a great source of knowledge and education, responding to all my questions promptly. With my background not being in the financial and investment sector, his clear explanations put in a context that I was able to understand, has been invaluable.
Geoff Saunders
Geoff Saunders
Great support all the way through the process very professional good knowledge and friendly service. I would highly recommend
Andew Clymo
Andew Clymo
From the start of the transfer to the end TLP have been always available to me, they have kept me informed throughout the process and offered help and guidance when required. Excellent service that is highly recommended
Andy Page
Andy Page
Now fully set up with a Landlords pension and very pleased with the overall service. Only delays were with AVIVA not playing ball but now all done and set to earn significantly more than with AVIVA. Jordan Sharpe was knowledgeable and guided me through the whole process with a professional and friendly approach. Morwena (assistant) was again very friendly and together made the process a simple one. Looking forward to a better retirement (eventually) thanks to TLP.

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