Ian's Case Study

Ian was married with a young son, and ran a haulage company in Carmarthenshire. His net worth was in excess of 2 million pounds, the majority of which was comprised of land adjoining his work premises.

Ian's main financial priorities were:

• To obtain a better understanding and appraisal of his financial position
• To protect his land and business premises from Capital Gains Tax
• To repay personal and business borrowing as early as possible

Ian undertook the Financial Management Programme, as part of which we provided him with an audit of his income, expenditure, assets and liabilities. We created a life-long cash-flow forecast, which illustrated how his liquid wealth is projected to fluctuate over time.

One of the recommendations that arose from the programme was to establish a Self-Invested Personal Pension (SIPP), which was to purchase some of Ian’s land. Ownership of the land was transferred to the pension, and the sale proceeds were released to Ian to help him repay his borrowings. Gains in the value of the land are protected from Capital Gains Tax whilst it is held in the pension.

What Ian said about Cilbenrick:
"This is how financial planning should be! A full investigation of your current position. Time spent analysing where you want to be in future. Then a sophisticated software package and advice to help you decide how you are going to get there. First class."