Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning.

Here are some important questions you need to ask yourself:

Exit strategies
If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?

Pension provision
Do you have an adequate pension in place? Do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

Savings and investments
Do you have the right balance between savings and investments, and is your portfolio split adequately between exposures

Life assurance and long-term care
Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your family in your later years?

We can help you answer all these questions and recommend solutions tailored to your particular needs.

About Us

The practice was established in 1987 by Stephen Lofthouse who had previous experience in medium and large accounting firms and for 15 years was a financial and managing director in commercial firms.  During this time he was the owner and publisher of the taxation books `Taxation Simplified` for the self employed and individual tax payer and `Smiths Taxation` a comprehensive taxation journal for tax professionals.

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Lofthouse & Co
36 Ropergate
Pontefract
West Yorkshire
WF8 1LY

Tel: 01977 600272
Email: info@lofthouseandco.co.uk

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