A comfortable retirement requires careful planning, so let us advise you on the most tax efficient options, including:

Maximising the value of your business

If you have built up a business you will be keen to avoid its value being cut by a large tax bill. However, that is a distinct possibility if your exit is not well planned, particularly if you run the company you own. You may wish to consider:

• Increasing the involvement of family members, if you want to pass the business onto the next generation
• Selling your business to a competitor or existing employees.

Either way, an accurate valuation is essential to ensure you pay the right tax on exit. And, if you decide to sell, it will help you to achieve the best price. The timing of your exit is also important, since a small difference in the transfer date can have a large effect on the amount of tax due.

Saving tax by saving in a pension

Contributions to a company or personal pension can be highly tax efficient, particularly as a way of extracting profit from your business. Certain 'self-invested' schemes even allow you some control over where your money is invested. Despite these advantages, however, you should consider the penalties and risks involved. We can advise on the limits that apply to you and help build a plan around your particular needs.

Paying less tax on your investments

Some investment and saving products are more tax-efficient than others but some are also higher risk. We can help you choose the most appropriate by explaining the differences.

Please contact us if you would like further guidance in this area.