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Do you know your real life number?
Debbie Hancock

Debbie Hancock

Owner of Southbourne Accountancy & Business Services

Do you know your real-life number?

What is your real-life number?


Every business owner has a real-life number. It is everything behind the scenes, that you are working towards in your real life, things like your next house, next big investment, or your pension pot. This real-life number can and should be linked with everything that the business is working towards. It is the key to achieving the life you really want, both now and in the future.


But many business owners can find themselves controlled by their business. They become wrapped up in running the business and unable to focus on improving their lifestyle.


You see, for many business owners there can become a disconnect between the work that is being done in the business and the impact it can have on their lives. But the only way to achieve your real life number, is by looking inside the business and getting serious. One of the ways you can do this is by understanding how tax advice and consultancy can help you achieve your real-life number tax efficiency.

This is where we come in.

To help you reap the rewards of you real-life number, we’ll work with you to:


Identify your real-life number

To start we’ll look at your current position and what your business can pay you right now. We’ll then look at what you need to achieve, to get you to the real life number that you want.

Impact of business performance

We’ll then review how your business performance is impacting your ability to achieve your real-life number.

Identify ways to make tax-efficiency savings

Using our expertise and knowledge, we will help identify tax saving opportunities, meaning you can take extra money out of the business for you and your family right now.

We’ll also make plans to take an extra sum out of the business during the next five to 10 years.

 

What information will we need to help you achieve your real life number?

If we’re to help you achieve your real-life number, we really to get know you. This means getting know things like…..


Family

Are you married? Do you have children; if so, how old are they? Are your parents still around; if so, how old are they? Who is bringing in income; what is their job and how much do they earn?


Big life investments

What big life investments do you have planned? For example, do you intend to buy a bigger house, new cars, holiday home etc. How much money will your planned investments cost?

 

Family investments

What do you want for your kids? Nothing? School funded? University funded? First home? What amounts do these come to?

Protection Investments

How are your protecting yourself now and into the future? Things like insurance policies such as Medical, Life, Critical Illness, Income Protection, Key Person Insurance, Death in Service Insurance and so on.

 

Pension Investments

What are your plans pension wise? Are you planning to use a company pension, standard pensions, SIPP or SSAS? Do you want to generate more in order to take out more and fund a pension? How much would you like to fund each year?

 

Lifetime Investments

Outside of pension investments do you have a set amount you want to create – a disposable income wise to invest each year? What is that amount?

 

Lifestyle expenditure

What is your lifestyle generally like? Are you spending all the money you extract via salaries and dividends from the company on life expenses?

It looks likes like a lot of information but if you’re serious about achieving your real-life number and taking more value out of your business, this is what it takes.

THE DISCOVERY

If you are serious about getting more value out of your business and achieving the things you want from life tax efficiently, you have to be ready to think hard and share information on the above seven areas of your life.
Because your version of financial freedom is yours.

We’ve developed a Discovery process to capture all the information we need. If you want to explore this with us and take the next step, get in touch. It does require a certain level of detail, but we assure you it’s time well invested if you want to get the results.
We capture this information via a form away from us, as it’s not something to rush or be pushed on by us. You need time to think about it properly.

ARE YOU READY?
If you are ready to get a better understanding of the tax position of your business, calculate your real-life number, and put a tax efficient plan in place, we can help you get you there.

 

Get in touch and start your journey with us today.

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