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Our client Sustainable Energy Systems (SES) has enjoyed significant organic growth over the last few years, and a new pension scheme has enabled them to expand the business even further.
Established in 2007 by Jon and Penny Kemp, the renewable energy installer was initially based in the rural business centre at Myerscough College. In mid-2011, operations were relocated to the village of Great Eccleston in Lancashire, where a converted former farm building provides a purpose-built location for their administrative and operational works.
Specialising in wind and photovoltaic systems for commercial, public sector and domestic clients, the business has grown to meet the demands of an expanding and developing market. Now with nearly 280 installations throughout the UK, SES builds its client base through a belief in only installing quality products.
Taylor Patterson advised and administered the set up of a new SSAS pension scheme, which gave SES much more freedom and control over their investment strategy.
It was agreed that SES would make an in specie contribution of property – moving the property from the company balance sheet to the pension – thus reducing their corporation tax bill without the need for liquidity. This also ensured a steady return by way of rent for their pension scheme for the foreseeable future.
Company owner Jon Kemp says: “Finding working capital is without doubt the biggest hurdle that businesses in our industry come up against.
“Taylor Patterson relieved some of that pressure by understanding the specific needs of our business.”
Kerry Houghton, business development manager at Taylor Patterson and specialist SIPP and SSAS adviser, helped Jon and the team set up the scheme. Kerry says: “An increasing number of companies are finding that a SSAS pension scheme really works for them – providing a range of benefits including reducing capital gains tax and, if the worst comes to the worst, protecting property from potential creditors.”
For more information about pension schemes, please contact Kerry Houghton on 01772 555073 or email firstname.lastname@example.org.