1eyeonthefuture
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The MD in conversation voiced her opinion that it made sense ( both for the business as they can claim back a portion but also director as they increase thier ability to reach the max tax free lump sum) when exiting the business that the business purchase back any directors shares by way of a lump sum deposit to the individual directors pension. She mentioned she intended in getting the company accountant to speak with each of the directors individually around thier agreement to go down this avenue should they decide to retire in the future.
On the face of it, the plan does make sense but I'm sure there are pitfalls etc as things are never as simple as they seem. Any issues that people would foresee??
(edit.. I dont know if its pertenant however current value of shares should they be realised today, circa 500k.. I would expect to be not far off my max 200k regardless given current pension projections however if this made sense I could obviously reduce current contributions)
Thanks
On the face of it, the plan does make sense but I'm sure there are pitfalls etc as things are never as simple as they seem. Any issues that people would foresee??
(edit.. I dont know if its pertenant however current value of shares should they be realised today, circa 500k.. I would expect to be not far off my max 200k regardless given current pension projections however if this made sense I could obviously reduce current contributions)
Thanks
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