Are you getting closer to retirement age but not quite ready to give up work just yet? Often thought of working for yourself but just not had the capital to start your own business? Well now you can make those dreams come true.
From 6th April 2015, providing you are over the age of 55 you can access as much of your savings from your pension as you want under new ‘pension flexibility’ rules, either in one lump sum or in multiple sums, with the first 25% being tax free.
If you are of age then now is the time to start looking at small business ideas that match your skills and interests. There are different options; either starting a business from scratch or buying a business which is already established, either of which could be an ideal opportunity to give yourself an income for the future invested through a tax free sum of money, thanks to the new pension flexibility rules.
To get the ball rolling, you can either contact business transfer agents or search online for a business for sale. Here at Sovereign we can not only do the searching for you, but we are a one-stop-shop for all your business needs; with established bank contacts, wealth management contacts, solicitor recommendations and a vast number of businesses for sale to match your interests, do not hesitate in calling us today to speak with one of our specialist advisors to start planning your future by buying a business or starting a business. Call Sovereign on 0161 486 1958.