A Client with an Expanding Business

Pensions, growth and tax savings from AFS Chesterfield and Sheffield

A Case Study on Pensions, Business Growth & Tax Savings

The Client’s Story

Mr W runs a small engineering business which had recently outgrown his rented industrial unit. He wanted to relocate to new premises, but like many small businesses, with a small deposit he had difficulty raising the finances from his bank.

Mr W had acquired a number of pension plans over the years. However, they were doing very little for him and he was frustrated by their performance and the lack of control he had over them.

Our Financial Advice

After reviewing Mr W’s situation, AFS recommended and arranged to consolidate all Mr W’s pension plans into a Self-Invested Pension Plan (SIPP). With the addition of his small deposit, there was sufficient to secure the additional funding needed form Mr W’s bank to buy the new business premises.

By using a SIPP, Mr W was able to buy the property in a tax efficient manner, which allows him to take direct control over how his pensions are invested.

Mr W can now plan for the future. He is able to boost his retirement fund through the payment of contributions and rent into his SIPP, by extracting profits from his business in a tax-efficient way.