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Financial future is clearer for Preston glass manufacturer

When a local, family-run firm approached Taylor Patterson to review their pension requirements, little did they know how much of an impact it would have on the company’s business model.

Lostock Hall Glass is a glass manufacturing company based on the outskirts of Preston in Lancashire. After setting up in 1995 they have seen steady growth, and wanted to look at opportunities to enhance their business funds to continue this expansion.

With modest personal pension schemes in place, the directors decided a pension review was needed. After speaking to their accountant in the first instance, the directors of Lostock Hall Glass were referred to the specialist pensions team at Taylor Patterson.

Steve Cookson, director at Lostock Hall Glass, said: “Like many small businesses, we were struggling to find the necessary finance to fund expansion of the company and attract new customers.

“As bank lending is still relatively low, we decided to contact Taylor Patterson to see how we could maximise returns on our pension funds whilst at the same time save for the future.”

Kerry Houghton and Stephen Jackson at Taylor Patterson worked with Lostock Hall Glass to evaluate their pension requirements.

She said: “Firstly we combined their historic pension funds into a Self Administered Pension Scheme (SSAS), along with the acquisition of a commercial property, allowing the company directors to maintain control of their pension arrangements within a flexible and tax-efficient environment.

“The SSAS then leased the commercial property back to Lostock Hall Glass at a commercial rate”, Kerry added. “As the rental income and capital gains within a SSAS are tax exempt, coupled with the fact that company contributions for family members attract corporation tax relief, the use of a SSAS was the perfect solution for the company.”

The unit held within the SSAS became tenant free some 18 months ago, and Lostock Hall Glass have now developed it into a replicated residential street allowing them to showcase numerous styles of housing, an ideal opportunity to present the catalogue of windows, doors, conservatories and other products that they design, manufacture and fit for customers.

Steve added: “Previously we have only ever dealt with commercial clients, however, this new development will enable us to attract members of the public to deal directly with them. This is a major change for the business and represents a large investment of funds and time, an investment that will help the growth and diversity of our company.”

For more information about pension schemes, please contact Kerry Houghton on 01772 555073 or email

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