For over two decades, Temple Row Wealth Management has stood shoulder-to-shoulder with business owners across the Midlands, helping them build, protect, and transition their wealth. As business owners ourselves, we intimately understand the challenges and opportunities that come with building successful enterprises. Our journey has taught us that the most effective financial strategies emerge from deep understanding of both the business and personal aspects of our clients’ lives.
The recent Budget delivered by Rachel Reeves has introduced several key changes that create both opportunities and considerations for business owners. As we’ve done throughout our history, we’re here to help navigate these changes with practical, experienced-based solutions.
Strategic Pension Planning: A Cornerstone of Business Wealth
Throughout our years of advising business owners, we’ve regularly seen how strategic pension planning can transform both personal wealth and business efficiency. With the annual allowance remaining at £60,000 for 2024/25, this traditional strength of our practice has become even more relevant. Many of our clients have successfully used employer contributions through their limited companies to build substantial retirement funds whilst enjoying significant tax relief—a strategy that remains powerful in the current climate. Even though there were changes in the IHT benefits for pensions, they still can form part of the plan.
Protection Through Relevant Life Cover: Securing Your Legacy
Having guided numerous business families through generational transitions, we understand that protection isn’t merely about insurance—it’s about securing legacies. Relevant life insurance has proven to be one of our most effective tools for tax-efficient business protection. As owners ourselves, we’ve implemented these solutions in our own businesses, giving us practical insight into their benefits: tax-efficient premiums, potential Corporation Tax relief, and peace of mind for families.
Strategic Cash Management in Changing Times
With the Budget signalling potential changes to Capital Gains Tax rates for Business Asset Disposal Relief from April 2025, our experience in business exits becomes particularly valuable. Over the years, we’ve helped numerous owners time and structure their business sales and investments to maximise after-tax returns. These upcoming changes require the kind of careful planning we’ve refined through decades of client partnerships.
A Partnership Approach
At Temple Row Wealth Management, our approach has always been collaborative. We specialise in helping business owners navigate complex financial decisions because we’ve walked the same path. Our team can help you:
- Assess your current pension strategy and optimise contributuons
- Structure your business protection efficiently
- Plan for upcming tax changes and identify opportunities
- Create robust succession and legacy plans
Looking Forward
The latest Budget changes present both challenges and opportunities for business owners. Our deep experience, combined with our own business ownership journey, positions us uniquely to help you navigate these waters. Whether you’re building, growing, or planning to transition your business, we offer the practical, experienced-based guidance you need.
Contact us today to discuss how these strategies can be tailored to your specific business situation. Our experienced advisers will help you build a comprehensive plan that protects your interests whilst maximising available tax benefits.
**Please note: nothing in this article constitutes advice. Always consult an adviser to match your risk, goals and personal circumstances.
- Levels and bases of, and reliefs from, taxation are subject to change and their value will depend upon personal circumstances. Taxation and pension legislation may change in the future.
- This article is for information purposes and does not constitute financial advice, which should be based on your individual circumstances.
- Cover will cease on insurance products if premium payments are not maintained. Benefits of insurance products will be put at risk or cease altogether if premium payments are not maintained.
- The value of pensions and any income from them can fall as well as rise. You may not get back the full amount invested.
- Past performance is used as a guide only; it is no guarantee of future performance.