How a Bespoke Financial Plan Secured the Future of One Business Family

(Names have been changed to protect client confidentiality.)

Michael and Sarah, a married couple in their late 50s, had spent decades building their successful manufacturing business. With two children in university and retirement on the horizon, they wanted to ensure their wealth was structured efficiently – not just for their future but for their children’s as well.

While their business was thriving, they had never taken a step back to truly assess the tax implications of their earnings, the structure of their investments, or the most effective way to transition their wealth. That changed when they came to us for a bespoke financial plan.

After an in-depth review, we uncovered several opportunities that would significantly reduce their tax burden while protecting their hard-earned assets.

The Game-Changing Strategies:

1. Corporate Structure Optimisation: Their company’s structure was outdated and inefficient for tax purposes. By restructuring ownership and utilising available reliefs, we helped them significantly reduce their corporate tax exposure.
2. Capital Gains and Retirement Relief: Michael and Sarah planned to sell part of their business in the coming years. By strategically planning the sale, we ensured they both qualified for entrepreneur relief, reducing their capital gains tax liability by over €200,000.
3. Education and Family Gifting Strategy: With both children in university, we advised on tax-efficient ways to fund their education while also initiating a structured gifting plan that stayed within tax-free thresholds, ensuring their children would receive financial support without unnecessary tax implications.
4. Investment and Pension Planning: Their pension contributions had been inconsistent over the years. By restructuring their pension strategy, we maximised tax-efficient contributions, ensuring a comfortable retirement with substantial long-term growth potential.

The Outcome:

With these strategies in place, Michael and Sarah not only secured their retirement but also saved hundreds of thousands of euros in unnecessary taxes and inefficiencies. Their financial stress eased as they gained clarity on their wealth transition plan, knowing that their business success would translate into long-term security for their family.

Their only regret? That they hadn’t sought professional financial advice sooner.

Your Business, Your Future

Michael and Sarah’s story is a testament to the power of strategic financial planning. Every business owner’s situation is unique, but a bespoke plan can make all the difference. If you’d like to explore how professional financial planning could benefit your business and your family’s future, get in touch with us at Chartered Capital Financial Planning Ltd.

Building wealth is one thing. Protecting it is another. Let’s ensure your success works for you, now and in the future.