Plan, prepare.  Making New Year’s Tax Saving Resolutions

In this New Year edition, the start of 2019 is the optimum time when you may be thinking about resolutions and plans for the year ahead and beyond. It’s a good time to start planning your tax affairs before the end of the tax year on 5 April. And as you think about 2019 and your goals for the coming year, we’ll help to start you off on the right financial footing. Turn to page 04 to find out more.

As part of our continuing look at tax-efficient saving and investing, on page 06 of the pdf, we shine a spotlight on some of the different options available. Whether you consider yourself a savvy investor or a financial novice – and no matter what, why or how you want to save and invest – an Individual Savings Account (ISA) could help make your money work harder for you.

You may want to keep an element of control when passing on your assets. You may want your money to be used for a particular reason, such as paying for school or university fees or for a first property deposit. Or you may just want to make sure your money stays within the family. On page 11, we explain how intergenerational planning will help.

Plus, women will now start to qualify for the State Pension at the same age as men, currently set at 65. On page 03, we look at how the move to equalise male and female pension ages began 25 years ago and has been gradually phased in.

What’s Inside?

  • Page 03 State Pension.  Move to equalise male and female pension ages
  • Page 04 Plan Prepare.  Making New Year’s tax saving resolutions
  • Page 06 Exploring your ISA options. Time to give your financial future a boost?
  • Page 07 Pension Unlocking.  Treasury enjoying a tax bonanza from pension withdrawals
  • Page 08 For the life you want. Building up your nest egg is more discipline than difficult
  • Page 10 Looking at the big retirement picture.  Considering making contributions ahead of the tax year end?
  • Page 11 Keeping it in the family.  Careful planning can reduce or even eliminate the Inheritance Tax payable
  • Page 12 Income Seekers.  Not putting all your eggs in one basket

Start off the New Year by reviewing your financial plans.

A financial plan can help you balance your everyday needs against your long-term goals and enhance the probability of a secure retirement.

What’s more, it can introduce you to a means to help achieve a retirement income you cannot outlive, as well as help you plan to create a lasting legacy. If you would like to start off the New Year by reviewing your financial plans, please contact us.

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