Tax specialist reports surge in pension-led funding enquiries

A tax specialist in northern England has reported a surge in enquiries from business owners and financial advisers keen to explore pension-led funding. Businessmen have been getting in touch to look at the option as a potential form of alternative finance to help build up their firms, Enterprise Tax Centre in Cheshire said.Pension-led funding allows business owners to transfer funds from an existing pension scheme to a Small Self-Administered Scheme which then advances a loan of no more than 50 per cent of the available funds to the business.Andy Wood, a director with Enterprise Tax Centre, said pension-led funding is being used "increasingly by ambitious businesses looking to take advantage of the improving economic climate".Mr Wood said: "Since the start of September we have seen record levels of enquiries. In addition to business owners, we are receiving a large number of enquiries from accountants, IFAs and other professional advisers who see pension led funding as a funding mechanism to help their clients achieve their goals." {desktop}{/desktop}{mobile}{/mobile} He said improved business optimism is not being matched by the desire of traditional lenders to support ambitious businesses in the UK.Mr Wood, who set up the firm with fellow Chartered Tax Adviser Richard Cunningham in March, said: "This is why there is such a growing demand for alternative finance and why pension-led funding is proving one of the most popular with business owners who have liquid funds in a pension."Britain's entrepreneurs back themselves to make a success of their ideas and ventures and like the fact that pension led funding puts them in control of their destiny."

Tax specialist reports surge in pension-led funding enquiries

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