Building up wealth.
Tailored financial advice for time-strapped individuals
Tax treatment varies according to individual circumstances and is subject to change.
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
Personalised financial advice for your unique journey
Running a business is time-consuming, so managing your personal finances and building up wealth can feel like an uphill battle. Therefore, it can pay off to work with a professional who knows and understands the financial problems you face, so you can make the most of your business to build personal wealth and secure your financial future.
Being as busy as you are, you’re limited on time. We will take on as much, or as little, as you want us to and will work with your other advisers to achieve the greatest possible outcome.
Your pension and retirement planning bring their own set of concerns. We’re here to answer the questions that keep you up at night and help you plan for a future where both you and your business thrive.
Expert advice
This is how we provide solutions to your problems
As we work with many business owners, we understand your challenges and how they differ depending on your personal and business goals. We will guide you and implement a long-term financial plan that is aligned with the needs of you, your business and your family so that you can prosper.
By putting plans in place now, you can add value to your business over the years, and it will allow you to visualise how your retirement will look, even if it’s many years away.
Building personal wealth
We take the time to understand your personal and business goals, and we listen to what matters most to you. We’ll take all this on board to create a bespoke plan to help you build wealth and plan ahead for your financial future. We can also put you in touch with other professional advisers you may need, such as solicitors, accountants and corporate finance advisers, who we work with regularly, if your circumstances require.
Protecting your assets
Your business is your livelihood and keeps not only your family financially stable, but also your employees. Therefore, it’s crucial to protect it from the unexpected. Ensuring you have the right coverage, such as life insurance and key person insurance, can safeguard your business and give you peace of mind.
Building tax-efficient solutions
One of the largest impacts on your long-term wealth is paying tax unnecessarily. We can build bespoke tax-efficient solutions, utilising any available tax allowances and ensuring you claim any tax reliefs. We will also factor in your business’s tax position. This way, we can protect and retain the wealth that you have worked so hard to build.
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Frequently asked questions when building a business
Is it better to keep surplus profits in the company or invest them personally to grow my wealth?
The answer varies from one individual to the next. However, some starting points to consider are:
Company reserves: Retaining profits in the business can be useful for expansion or cash flow buffers, but sitting on large amounts of cash may be less efficient if returns are low.
Personal investments: By taking profits out and investing personally into tax-advantaged wrappers, you can benefit from potential tax-free growth. You can make pension contributions direct from your company, meaning you do not have to pay income tax or national insurance when making these pension contributions.
Balancing act: Consider corporate and personal liabilities. A hybrid approach often works best, but will differ based on your risk appetite, growth plans, and personal goals.
How can I use pensions to accumulate personal wealth from my business?
Pension contributions made by your company on your behalf can be highly tax-efficient, reducing the company’s Corporation Tax bill while boosting your personal retirement fund. In the UK, you can usually contribute up to the current Annual Allowance, and you might be able to carry forward unused allowances from previous years. However, it’s important to consider factors like tax allowances, particularly if you’re building a large pension pot. Timing and contribution levels should be carefully planned based on your business’s profitability and cash flow.
What’s the most effective way to prepare my business for sale or succession to help build personal wealth?
If you plan to sell your business or hand it down in the future, you may be able to benefit from tax reliefs such as Business Asset Disposal Relief (BADR), which can reduce the Capital Gains Tax rate on qualifying business disposals. Enhancing your company’s value through strong financials, clear processes, and sustainable growth can lead to a higher sale price. Begin planning early to ensure you have the right structure and documentation in place to maximise both value and tax efficiencies when the time comes.
How do I protect my business assets while safeguarding my personal wealth?
To protect the business and your personal finances, you might consider various insurance policies, such as key person insurance or shareholder protection. These can provide the business or family with funds if something unexpected happens to you or a vital team member. Ensuring you have robust legal structures, like a well-drafted Shareholders’ Agreement, and a business Lasting Power of Attorney can help secure your personal wealth and reduce disruptions if you’re unable to manage the company yourself.
What steps should I take to reduce Inheritance Tax (IHT) exposure using my business assets?
If you own a trading business, you might qualify for up to 100% relief from IHT under certain conditions. Gifting shares, creating trusts, or transferring assets over time can also help reduce the potential IHT bill. However, strict rules apply, and these strategies often require careful planning. It’s helpful to regularly review whether your business remains eligible for relief, particularly if the nature of the company changes, and to seek advice on ways to protect your estate.
How do ISAs fit into my overall wealth-building strategy if my business is already successful?
Individual Savings Accounts (ISAs) allow tax-free growth on any gains and income generated by your investments. They have an annual funding limit, but they’re an accessible and flexible way to save. Unlike pensions, you can withdraw money from an ISA at any time, making it a useful option if you want a ready source of funds while enjoying potential tax-free growth.
Don’t just take our word for it.
In all our negotiations, David has explained things in an easily understood manner, which has made a complex procedure much easier to comprehend. Having never had any experience of the world of finance, I’ve found him supportive and informative.
The whole experience has been professional, friendly and informative. At all times, I could ask the “daft question,” which was really important for me as I was unskilled in this area and needed to trust the person I chose.
David was very thorough and went through every fine detail regarding my private pension. He gave me lots of guidance and different options. David always went out of his way to help me and is extremely knowledgeable.
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We love meeting new people and learning about you. If you are interested in finding out more, please schedule an introductory meeting with us by clicking on the button below. We do not charge for an introductory meeting, and we can both use this meeting to assess whether we are the right fit for one another.
Please note:
Kind Wealth does not advise on the setting up of a Family Investment Company. Family Investment Companies would be set up by a third party and Quilter Financial Planning accept no responsibility for this.
Kind Wealth can advise on the underlying investments held within a Family Investment Company.
The Financial Conduct Authority does not regulate tax planning, exit strategies and legal services. Legal services are by referral only.
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