“We wanted a tax-efficient plan for our retirement” David & Gillian, Clitheroe, Lancashire

We first met David and Gillian in 2012 to discuss David’s pension options.

At the time David was a company director, with the business operating out of an industrial unit, which he owned personally.

In 2013 we consolidated two old pensions into a Small Self-Administered Scheme (SSAS), which purchased the industrial unit from David. This had many advantages as it:

  • Boosted his personal cash reserves
  • Ensured any future growth in the value of the property would be tax-free
  • Means that rent received by the SSAS is tax-free despite it remaining a tax-deductible expense for his business

David and Gillian were also keen to understand that their retirement planning was on track. So, using our specialist software, we also built a retirement forecast which we monitor regularly.

We meet with David and Gillian at least once a year to check in with their aspirations and plans, as these have changed over time. Where necessary, we adjust their plan to account for these new and updated goals. For example, recently, they have even decided to design and build their dream home in the beautiful Ribble Valley in which they plan to enjoy their retirement.

Our advice has meant that David and Gillian are saving for retirement in an extremely tax-efficient way. Perhaps more importantly though, as they both move closer to retirement, the planning process has given them peace of mind about their financial future.

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