Paul Humphreys

Tackle tax year end with confidence

Tax rules can seem pretty impenetrable. With the new Budget, and so many different allowances and regulations to keep up with, it’s no wonder millions of us end up accidentally missing opportunities - equating to millions of pounds a year.¹

In this case, ignorance really isn’t bliss. And by confidently preparing for tax year end, you can be sure you’re getting all the money you’re entitled to - whether that’s by saving as much as you can tax-efficiently or just using your allowances to their full extent.

I can go through your financial position with you, so you’re ready for tax year end on 5 April. Did you know, for instance, that only 1 in 7 savers fully use their ISA?² Or that you could be one of the 2m couples³ who aren’t making the most of their marriage allowance?

Together we can make this tax year end something to celebrate, rather than pass by. Get in touch for your tax year end review, or a cashflow modelling session to understand your financial position better.

For ISAs, Investors do not pay any personal tax on income or gains, but may pay unrecoverable tax on income from stocks and shares received by the ISA managers.

Tax treatment varies according to individual circumstances and is subject to change.

Stocks and Shares ISAs invest in corporate bonds, stocks and shares and other assets that fluctuate in value.

¹ Source: https://www.thetimes.com/money-mentor/pensions-retirement/how-to-claim-higher-rate-tax-relief-on-pension-contributions-in-the-uk

² Source: https://ifamagazine.com/just-one-in-seven-brits-use-their-full-isa-allowance-survey-shows/

³ Source: https://moneyweek.com/personal-finance/605717/marriage-tax-allowance

Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited. 17 December 2024.

Specialist advice service for Public Sector Pensions. I have experience and knowledge of Public Sector Pensions including NHS, Teachers, Civil Service, Local Government, Universities. I can help in that I can produce figures and modelling, annual allowance and lifetime allowance tax advice, McCloud remedy implications, retirement considerations, maximum tax free cash and so on. This can be provided in a report which then would be followed up with a visual meeting.

To get started, I offer a complimentary informal meeting which gives yourself an opportunity to ‘sense check’ your arrangements – a ‘ financial MOT service’, as I put it, which ‘gets under the bonnet’.

My Services:

• Savings, Pensions and Investments: is your money in the bank being eroded by inflation? Do you have any surplus income which could be invested to help meet your long-term goals? I will discuss your current financial situation, investments goals and objectives. Importantly, I will consider the level of risk you are comfortable with and your thoughts on investing ethically.
• Retirement Planning: A well prepared retirement plan which is regularly reviewed should go some way to providing you with a reasonable level of income in your retirement. It requires action as soon as possible, so start now - and if you have already started, I Will take the opportunity to have a closer look at your existing arrangements to make sure you are on track.
  Final Salary Pension Transfers: I am able to advise on Final Salary/Defined Benefit pension transfers and I hold the appropriate license.
• Wealth Management: wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks. If you decide to appoint me, I will gather detailed information about you, your current situation, and your personal financial information. I will also explore your objectives now and in the future. I will then prepare you recommendations and go through them with you. Where I feel a new product recommendation will enhance your situation, save tax, or improve your chances of reaching your goals, I will detail them in a recommendation report explaining why they are suitable. If you are happy with the proposals, I will take care of everything else and ensure all the paperwork is completed and implement your new plans. I will provide you with an ongoing advice service. Throughout life, your circumstances will change, and I will continue to make sure your plan is on track and remains appropriate for you.
• Taxation: most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with me the most efficient way to arrange your finances. I will be able to help you plan your taxes in advance and come up with effective strategies that will use the lawful reliefs and allowances to minimise the amount you have to pay.
• Inheritance Tax and intergenerational planning: if you are concerned about the Inheritance Tax liability on your estate in the event of your death, there are ways to reduce the Inheritance Tax bill and ensure that your wealth goes to those who you wish to benefit. By using a combination of qualifying investments, gifts, trusts, allowances, and exemptions, I can find the right balance between retaining access, flexibility and controlling the future of your money.
• Mortgages: Quilter Financial Advisers are not tied to any particular lender, which means that I have the ability to act on your behalf in order to establish the most appropriate mortgage solution for you. Equity Release If you’re over the age of 55, equity release offers you a way to use the value of your home to raise money. There is a range of equity release schemes available on the market offered by reputable equity release providers, and they fall into two main categories, Lifetime Mortgages and Home Reversion Plans.
• Financial Protection: The main purpose of financial protection is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners. It can provide the reassurance of financial protection for you, your family and your business associates.
• Care Fees Planning: I hold the specialist later life licence for Care Fees Planning and are able to provide bespoke advice regarding the issues facing funding care later in life.
• Cashflow modelling: if appropriate, I will use specialist financial planning software to show you where you are against your objectives and to highlight any gaps or shortfalls that require your attention. This allows him to explore different scenarios.
  
  

Equity Release, Lifetime Mortgages & Home Reversion Plans will reduce the value of your estate and can affect your eligibility for means tested benefits.

The value of pensions & investments and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.