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Pension led funding


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lid

Apparently you can unlock money tied up in your pension prior to 55 if you've got a business/want to invest in a business.

Sounds legit according to the spiel..

You can even club together to share the risk..

Mentioned it to my cousin before and he's already got his eye on a bouncy castle business that is doing well and is up for grabs locally.   

https://www.pensionledfunding.com/

Legit or bollocks? Thoughts appreciated

Edited by lid
No inflation worries. Unless you get a puncture
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Frank Hovis
12 hours ago, lid said:

Apparently you can unlock money tied up in your pension prior to 55 if you've got a business/want to invest in a business.

Sounds legit according to the spiel..

You can even club together to share the risk..

Mentioned it to my cousin before and he's already got his eye on a bouncy castle business that is doing well and is up for grabs locally.   

https://www.pensionledfunding.com/

Legit or bollocks? Thoughts appreciated

 

Interesting; I'd not heard of that.

The article below explains what it is and the constraints upon it.

It reads to me that the loan is made to an existing business which has to provide assets as security for the loan because if the business goes pop and the loan is written off then what you have effectively done is spent your pension before you were entitled to do so.

I'm not an expert but that does suggest that buying an existing business whose only asset is a bouncy castle is not going to qualify.

https://www.accountingweb.co.uk/business/financial-reporting/pension-led-funding-10-things-you-need-to-know

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lid
Posted (edited)
49 minutes ago, Frank Hovis said:

 

Interesting; I'd not heard of that.

The article below explains what it is and the constraints upon it.

It reads to me that the loan is made to an existing business which has to provide assets as security for the loan because if the business goes pop and the loan is written off then what you have effectively done is spent your pension before you were entitled to do so.

I'm not an expert but that does suggest that buying an existing business whose only asset is a bouncy castle is not going to qualify.

https://www.accountingweb.co.uk/business/financial-reporting/pension-led-funding-10-things-you-need-to-know

I'll give him the news, might have to let him down gently though. I can see him feeling deflated but I'm sure he'll bounce back 

Edited by lid
But
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reformed nice guy

I think people use it to buy land, especially land they already own.

It has to be commercial (woodland for example) and f its land you already own you would have to pay a rent (into your pension effectively)

GPs do it with their own practices. Their pension buys it, they rent it (but actually bill it to the NHS) and they then drop down to the minimum workweek when they reach their lifetime pension limit.

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