F INANCI A L ADV ICE


HOW YEAR ROUND TAX PLANNING CAN MAKE A BIG DIFFERENCE TO YOUR LIFE….


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Tax Planning isn’t just something to think about at the end of the Tax year – Its something to keep in mind whenever you make a big financial decision.


Whether you want to pass down wealth down through the generations, make the most of a windfall or simple ensure your savings work as hard as possible, there are reliefs and allowances that can help.


For example, If you are self-employed the last few years may have been tough; but maybe your Business has had a bumper year this year, which may mean you can take advantage of carry-forward rules and pay more than the annual allowance into your pension.


Maybe you have received a windfall, a bonus at work or an inheritance, there’s often a strong argument for paying the money into your pension. Not only does this shelter your money from major UK taxes, but subject to certain limitations, the contribution will also be topped up by tax relief at your marginal rate. This can be Particularly helpful if a bonus tipped your earnings over £100,000 as it can help avoid the tapering of the personal allowance that can result in the 60% Tax trap. It’s a double hit. You get to benefit of reducing your income for tax purposes plus the benefit of tax relief.


Contact John for advice o sheltering your wealth and reducing your tax liability.


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The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.


John Pigott Financial Management is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group's wealth management products and services, more details of which are set out on the group's website www.sjp.co.uk/products.


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