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Pension business owner

Published  12 May 2022
   60 min CPD

In this webinar, Clare Moffat and Fiona Hanrahan highlight the rise in business owners and discuss some of the implications in terms of the need for financial planning.

CPD learning outcomes - 60 minutes

  • The benefits of pensions for the business owner
  • How to consider the business and the owner and the tax implications for each
  • The retirement and death benefit options for the business owner.

What's covered

  • The limited company, the wholly and exclusively rule
  • How taxation of dividends work.

CPD certificate of completion

Once you've watched the webinar, simply complete the short quiz below and give us a few details in order to receive a CPD certificate of completion.

Check your knowledge

To gain your CPD certificate answer the following questions.

1. Thea is a sole trader. She has trading income of £40,000. She inherits £50,000 from her dad and wants to pay it all into a pension and she has heard that she can do this because of carry forward. No other pension contributions have been made for her or on her behalf this year. Can Thea do this?
2. When thinking about a limited company, what escapes the corporation tax wall?
3. In April 2022 national insurance rates increased to include the health and social care levy. What also increased?
4. Isla wants to withdraw her pension fund to purchase a property to rent out. She owns a home to live in too. She knows that she will have to pay income tax on the withdrawal but what additional tax will she pay now and potentially in the future?
5. Mark has been worried about the economic situation and has been retaining a lot of cash within his limited company. He is only 55 but he thinks that if he died, this cash would be protected due to the rules on Business Relief. However, one of his friends has told him that isn’t true and that he should move it to a pension instead. Mark asks what is better from an IHT point of view.

CPD certificate details

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