Your company cash holdings can be reduced by making pension contributions both for yourself and your staff.
You are able to make a contribution which matches your salary or from the 6th April 2011 you are able to make a maximum contribution of £50,000 per tax year as an employer contribution.
All pension contributions (up to the maximum allowed) for yourself and your staff made by the company are tax deductible expenses and will therefore reduce profit and tax as well as providing an income for retirement.
Before very long all companies will have to have a pension scheme in place so before you get forced to have a pension policy shouldn’t you speak to a professional and get the right plan in place which is most suitable for you, your business and your staff.
Saylavy work with a range of professionals so if you want some help just ask ‘sara saylavy’.