Ovation Finance

Business Planning

Pensions and Small Businesses

If you think a pension is just a way to lock up cashflow, think again. Pensions are a sensible, tax-efficient element of business planning, and a way of legitimately saving tax. Ovation can help you set up a pension that allows you to invest in your own business, for example by purchasing property, or investing back into your company.

 

• >Case Study 1
• >Case Study 2
• >Case Study 3

 

Employee Benefits

Our advice on employee benefits focuses strongly on the bottom line. We recognise that for businesses, whether to offer employee benefits, and indeed what type to offer, is a big decision. We believe that a well thought out approach to this area can significantly boost a company’s performance by improving staff morale and retention, giving you a stable and loyal workforce. Conversely, a badly or incompletely planned approach can simply be an added expense.

Most businesses recognise the importance of rewarding loyal staff. However, many do not make the most of the incentives offered to them. For example, a Stakeholder scheme is now compulsory for all employers with 5 or more staff (including part time and directors). Is your company offering the bare minimum, or a meaningful scheme?

Contributions to pensions save National Insurance, and are therefore more tax-efficient than salary. Death in Service schemes can provide cheap life cover, which experience has shown substantially increases membership of the pension, and therefore staff loyalty. Such packages do not need to be expensive and often pay for themselves. Click here to see a case study: > Case Study 1.

We can offer specialist advice on employee benefits, drawing on our close relationship with an HR consultancy firm where appropriate, and combine these with other types of benefits to provide a comprehensive reward offering.

If you would like a free consultation to discuss pensions and employee benefits for your business, please contact us:

Looking after you and your staff