Phare Financial Services advisers are specialists in this field, so we can ensure that you are making the most of the available allowances and that you only pay the tax you need to.
Tax planning is the legal process of arranging your affairs to minimise a tax liability. There are a wide range of reliefs and allowances available to legitimately reduce a liability, but most people do not know about them all, or how to use them.
Tax allowances and reliefs
The government gives you various tax allowances and reliefs each year and although many people do not make the most of these, doing so can be very beneficial. We can help you structure your finances to ensure you are capitalising on all your allowances, including your personal allowance, capital gains tax exemption, dividend allowance, ISA allowance and pension tax relief. The list does not stop there, so get in touch with your adviser to find out more.
Making sure your investments are tax-efficient
The more tax you pay, the harder your investments must work to achieve the same returns compared to a lower tax payer. We can structure your investments efficiently to make the most of your money, combining this with the use of your available allowances and reliefs.
When drawing an income, such as in retirement, we can also advise on the best course of action, to make sure it is drawn in the most tax-efficient manner.
See Retirement Finances & Pensions
Planning for the next generation – mitigating Inheritance Tax
Your financial journey does not have to stop when you do. Ensuring that your hard-earned wealth is passed on to your loved ones as intact as possible may well be very important to you and your family. If this is the case, Phare Financial Services can help.