End of year planning
As you approach the end of your company's accounting period, it's a great opportunity to review your company and personal financial planning.
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Now is the perfect time to take advantage of corporation tax reduction measures, and take stock of various aspects of your company's finances.
"Get in touch with Askaig Newington to speak to our financial planning team.
Our experienced professionals have a wealth of knowledge and a shared commitment to providing the best possible service to our clients.
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Whether you're looking to secure your retirement, grow your wealth, or navigate a complex financial situation, we're here to provide personalised advice."
Can I reduce my company's corporation tax liability?
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There are a number of ways to reduce corporation tax before your year end. These include making use of capital allowances, claiming R&D tax credits, and providing workplace benefits for your team.
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However, pension contributions are one of the few remaining significant tax breaks available to companies, particularly for SME businesses.
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As a shareholder and director of your own limited company, you're able to contribute to your pension from your business, which will save your company corporation tax.
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Our financial planners will calculate how much you are allowed to contribute to your pension this year, and work with you and your accountant to agree upon the right level of contribution, taking account of your business and personal circumstances.
Are my company's directors and shareholders adequately protected?
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Like most businesses, you've probably made sure that your assets are covered against the effects of fire, theft, or other unforeseen events. But what about your most valuable asset - your people?
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Have you considered what impact the death or serious illness of one of your company's directors would have on your business? And what is the financial impact on your family if you should die early?
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Our financial planners will work with you to understand the financial impact of the death or critical illness of one of the company directors, shareholders, or key people. We will calculate the amount of insurance required, and arrange cover with the most suitable provider.
Book a meeting with a financial planner
Our initial meeting comes at no cost – it’s an opportunity for us to get to know each other and allows us to gain an insight into your current situation, goals, and objectives.
Our friendly financial planning team bring a wealth of experience and expertise. All our discussions are confidential, and you will never be asked to commit or sign up during our first meeting.
How to get in touch
6 Wrotham Business Park
Barnet
EN5 4SZ
Can I get a better return on my company's cash reserves?
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The Bank of England base rate has risen steadily since December 2021, but many business bank accounts still pay extremely low rates of interest on your cash balance.
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You may be able to achieve a better interest rate on your company's surplus funds from a business savings account with an alternative bank - without needing to move your current account.
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Alliteratively, you may wish to invest some of your company's surplus funds in search of long-term capital growth, via a corporate investment.
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Contact Askaig Newington today to discuss what options may be available to you.
All information It is based upon our current understanding of current legislation and HMRC guidance. While we believe this interpretation to be correct, it cannot be guaranteed that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Thresholds, percentage rates and tax legislation may change in Finance Acts and bases of, and reliefs from, taxation are subject to change and their value depends on an individual’s personal circumstances.
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The Financial Conduct Authority does not regulate Tax Advice.
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A pension is a long-term investment not normally accessible until 55 (57 from April 2028).
Investments carry risk. The value of your investments (and income from them) can go down as well as up, and you may get back less than you invested. Past performance is not a reliable indicator of future results. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
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Life Assurance plans typically have no cash in value at any time and cover will cease at the end of term. If premiums stop, then cover will lapse. You should review the level of cover required on a regular basis to ensure that it keeps in line with your earnings, otherwise, cover may be less than you need. If any relevant information provided, when applying, is not disclosed accurately and honestly, this could result in any cover offered becoming invalid and / or may result in the non-payment of any future claims.