A retired man receiving a civil service pension had been made redundant from his post – civil service job and was facing a large tax bill on his redundancy payment. By thinking laterally and optimising the provisions of his personal pension fund, we were able to reduce his tax liability from 40% to 30% and boost the fund at the same time.
He also wanted to buy a house with land and stables nearby. On our advice, he put the stables and land onto one deed and the house onto another, and was able to use his pension fund to purchase the stables and land in full compliance with pension regulations. This meant he could buy a property that would other wise have been out of his reach.
A FULL AND COMPREHENSIVE MEETING NEEDS TO BE CARRIED OUT AND FULL FACTS OBTAINED ABOUT AN INDIVIDUAL’S CIRCUMSTANCES IS UNDERTAKEN BEFORE ANY RECCOMENDATION IS MADE. THIS EXAMPLE IS NOT A RECCOMENDATION.