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Tax Planning

The UK tax system is notoriously complex and tricky to navigate. Knowing how to be efficient both during your working life and during retirement, can be a minefield, but being as tax efficient as possible, especially when taking into effect the concept of compounding, over time can make a significant difference to your overall finances.

XV Wealth can assess your current circumstances, and help set up strategies to make the most of your allowances, and review changes to legislation as well as your own circumstances, to ensure you do not pay more tax than you need to.

If you already work with an accountant, we encourage a collaborative approach with them, to ensure that the most tax efficient investments are used in conjunction with the overall tax calculations.

Some of the key tax strategies we can assist with:

Using your Tax Allowances

Structuring your income is key to making use of the different tax allowances available. Our advisers can assist in ensuring that, where possible, you are making use of:

  • Income Tax Allowances

  • Dividend Allowances

  • Capital Gains Tax Allowances

  • ISAs and Pension Contributions

Tax Efficient Investments

The more tax you pay, the harder your investments will need to work to achieve the same return over time.

Our financial planning techniques are designed to set-out the most tax efficient strategy, personalised to you, to ensure that your investments are working as hard as they possibly can, to ensure that you are making the most of your money.

Tax in Retirement 

During retirement, being tax efficient is an often overlooked step.

Utilising income from different sources such as ISAs and Investment Bonds, whilst utilising your available income, dividend and capital gains tax allowances can help reduce your tax liability and ensure your savings and investments last as long as possible.

VCT & EIS Schemes

More sophisticated tax mitigating strategies are available including Venture Capital Trusts and Enterprise Investment Schemes, which, as well as being an option for estate planning, they also offer other tax benefits.

These investments are considered higher risk and are not suitable for all investors but our team of advisers can help you decide whether they could be useful to your overall financial plan.

The value of pensions and investments and the income that they produce can go down as well as up and you may not get back the full amount that you originally invested.

 

The Financial Conduct Authority does not regulate Tax planning.

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