Put simply, Lifetime Business Tax Plans are powerful and flexible vehicles that enables alignment of your business, wealth, investments and financial situation, legally allowing you to minimise your tax liability.
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.
As part of a Lifetime Business Tax Plan, the Family Investment Company element enables company cash to be moved into the bank account linked to the plan. Shareholders of the original trading company (that may have inadvertently become an investment company) remain in full control of all the cash, but that cash is effectively held in trust for the benefit of their family.
This simple element of a Lifetime Business Tax Plan removes the tax charge in its entirety and allows the beneficiaries to receive the full cash balance. The cash can be invested within the plan, in any asset class from property to shares, and tax is only applied to the gains made through the investments, not the actual cash held. Most importantly, the grey area of whether the company has become an investment company or not is removed and BPR can be claimed on the company share value.
The SSAS is another essential business tool, exclusively available to company directors, and forms the second element of a Lifetime Business Tax Plan.
A SSAS is a form of tax exempt savings account, that can receive profits from a Family Investment Company, without suffering a tax charge. A SSAS can also make investments which are not subject to either capital gains tax or corporation tax.
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 can also pool dormant or current pensions to increase the investment potential of the SSAS.
The key benefits of a SSAS:
– No capital gains tax or corporation tax
– 0% tax on investment returns
– Invest historic or current pension plans in your own business
– Pool pensions with other company or family members to achieve greater investment power
– Invest in commercial property
– Purchase your own business premises
– Invest in property crowdfunding
– Ring-fence assets
– Create a more flexible retirement plan, to the benefit of your successors and beneficiaries
– Create a robust succession plan for the business
…is to give company directors the control and the ability to protect their wealth for their family and put the mechanics of succession into place whilst continuing to grow their business. The strategies of a Lifetime Business Tax Plan focus specifically on overcoming the issues of investing company profits, mitigating company and inheritance tax, allowing company directors to invest at their own discretion and in addition, ensuring they are able to grow their pensions without the impact of huge tax penalties. By fusing the two key powerful components, a brige is created to allow innovative and formidable strategies to be created for you, the business and to provide a secure future your children, whatever the succession plan you have in mind for the business.
Recently been working with Tom at the Landlords Pension through a recommendation from a close friend. Tom is very knowledgeable and explained their services very clearly. Really helpful and friendly guy who immediately put me at ease. Always at the end of the phone or email ready to answer any questions I have.
Highly recommend The Landlords Pension for setting up a SSAS pension. Many Thanks to Liam, Michelle, Teresa and the team for their support throughout and making it an easy process. Looking forward to our working relationship with future investments.
Wouldn’t hesitate to recommend there services to open a SASS, massive thanks to Dan, Michelle and Teresa who made the setup seamless, very supportive throughout the whole process.
Look forward to many years of successful investments with The Landlords Pension
Highly recommend The Landlord’s Pension for opening a SSAS. They are highly professional yet friendly and personable. They are really helpful and keep you informed every step of the way. It’s refreshing to pay for a service by a company who actually do what they say they are going to, with zero aggravation and problems! Thank you guys 🙂
I recently opened my SSAS through The Landlord’s Pension and they have been professional, approachable and efficient throughout. Simon, Teresa and Michelle have all been great in answering my questions and queries and doing their best to ensure the process of transferring over my existing pension has been a smooth and seamless one. I would have no hesitation in recommending them.
I’ve been working with The Landlord’s Pension this year to sort out historically messy pension arrangements and take control by creating a Family SSAS. Chris Brown has been an absolute pleasure to deal with, friendly professional advice all the way through. Thanks!
We had a number of workplace and final salary pensions, dotted all over the place and decided to pull them all into one SSAS. Laura and the team were excellent in explaining what to expect and keeping us advised every step of the way, in fact as part of the fact-find, we came across pensions we didn’t realise we had! I manage my own SSAS, but I know that Laura is at the end of the phone if I need her and she will not hesitate to help. I couldn’t recommend The Landlord’s Pension enough, they were absolutely brilliant!
