Running your own business is a massive drain on your time. They say you never stop working when you own your own business, and when you add in time spent at home with your loved ones, it’s easy to see how jobs around the home have to wait.
That’s where Ifamax can help.
We deal with business owners of highly profitable companies, creating financial strategies that achieve successful, sustainable wealth over the long-term.
We work with business owners in a number of ways, including:
How to pay yourself - salary, dividend, pension or something else
We help business owners turn business success into personal wealth. Advanced tax planning is one of our main specialties, and we will work closely with your tax adviser to build a logical plan that suits your needs, for both now and in the future.
What’s your exit strategy? Do you have one?
We often hear business owners say ‘my business is my pension’, and that may well be true for some. We advise business owners on how to build up personal wealth, and approach tax efficiently so that you don’t need to rely on the sale of your business to become financially independent - in other words, you no longer need to work. This ultimately gives you more choice, flexibility and freedom to do what you want, when you want it.
Ideal Retirement Goals
There are many financial benefits to running your own business, and one of these benefits can be a potentially substantial contribution towards your pension. As a business owner, you may want to maximise your assets to ensure you can reach your ideal retirement goals. You may also want robust protections in place to ensure you are secured from the repercussions of the death or critical illness of another shareholder.
How We Work with Business Owners
With solid financial planning we are able to help mitigate against unforeseen and foreseen circumstances, to safeguard your wealth and long term investments before eventually exiting your business for retirement.
As Independent Financial Advisors we will offer you unbiased, informed and professional advise on:
Personal investments
Business owner pension & retirement plans
Business exit strategies or succession plans
Capital gains & inheritance Tax
Protecting the inheritance of your loved ones
Drawing down money from your business
Who We Work With
At Ifamax we work with both small and enterprise size business owners in Bristol and the surrounding areas of South Gloucestershire, Somerset, Bath and London. You may be a solo Director/shareholder business or a company with multiple shareholders.
FAQs
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Absolutely. We specialise in taking the weight off your shoulders. Our dedicated financial planners will work closely with you to understand your goals and create a personalised wealth management strategy that aligns with your future goals.
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We offer a comprehensive suite of services tailored to the needs of business owners, including:
Profit Extraction Strategies: Optimising how you withdraw profits from your business to maximise personal wealth and minimise tax implications.
Retirement Planning: Developing a clear roadmap to secure your financial future after you exit your business.
Tax Planning: Maximising tax allowances and utilising tax reliefs to minimise your overall tax burden. This includes exploring tax-efficient investment strategies like pensions to optimise your financial growth.
Investment Planning: Growing your wealth through a diversified investment portfolio designed for your risk tolerance and long-term goals.
Business Succession Planning: Ensuring a smooth transition for your business and your family's financial security in the event of retirement or sale.
Protection Insurance (such as life cover): Safeguarding your business and family's financial well-being in the face of unforeseen circumstances.
Wealth Distribution While Alive: Developing strategies to share your wealth with loved ones throughout your lifetime in a tax-efficient manner.
Tax Efficient Means of Funding Your Business: Exploring financial options that minimise your tax burden while ensuring your business has the capital it needs to thrive.
Estate Planning: Creating a plan to ensure your assets are distributed according to your wishes after your passing, while minimising inheritance tax liabilities for your beneficiaries.
Balancing Your Wealth & Business Needs:
As a business owner, you understand the importance of juggling multiple priorities. You need to protect and grow your personal assets while simultaneously ensuring your business has the capital to flourish. This can feel like a constant balancing act. Here's where an experienced wealth management advisor, taking an unbiased approach, can make a significant difference. We'll work with you to develop a comprehensive strategy that considers both your personal financial goals and your business's needs.