Archived articles
Although the content of the article(s) archived were correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.
A word from the office - April edition
March has flown by in a flurry of activity. As we approached the end of the tax year, our advisers were busy ensuring their clients had Tax-efficient investment strategies and had optimised their finances for the previous tax year. We celebrated a successful inaugural event, 'Around the County with Quayside', featuring a warm welcome to Rich Hine from British Polo Gin. As the new financial year begins and with the recent UK budget outlining fiscal policies aimed at addressing economic challenges, many of us are contemplating what the coming 12 months will bring.
Monthly Headline from Quayside
Starting a new tax year can be an opportunity to get your finances in order and getting financial advice for the new tax year can be beneficial for several reasons:
1. Maximising Tax Efficiency: Financial advisers can help you identify tax-efficient strategies to minimise your tax liability while maximising your savings and investments. They can provide insights into various tax-saving opportunities, allowances, and reliefs available to you.
2. Optimising Investments: Financial advisers can assess your investment portfolio and recommend adjustments based on your financial goals, risk tolerance, and the prevailing market conditions. They can help you make informed decisions about asset allocation, diversification, and investment vehicles to help optimise your returns while managing risk.
3. Planning for Retirement: Retirement planning is crucial for securing your financial future. Financial advisers can help you evaluate your retirement goals, estimate your retirement income needs, and develop a personalised retirement savings plan. They can also provide guidance on pension options, contribution limits, and tax implications.
4. Managing Debt and Cash Flow: Financial advisers can assist you in managing your debt effectively and optimising your cash flow. They can help you prioritise debt repayment, explore refinancing options, and develop strategies to build emergency savings and achieve financial stability.
5. Estate Planning and Inheritance Tax: Estate planning is essential for protecting your assets and ensuring that your wealth is transferred according to your wishes. Financial advisers can help you create an estate plan, review your will and beneficiaries, and explore strategies to minimise inheritance tax liabilities.
6. Holistic Financial Planning: A financial adviser can provide comprehensive financial planning services tailored to your individual circumstances and objectives. They can help you set realistic financial goals, track your progress, and make adjustments as needed to stay on track toward helping achieve your long-term financial aspirations. We have an amazing piece of software that can illustrate this to you!
7. Peace of Mind: Working with a financial adviser can provide you with peace of mind knowing that you have a knowledgeable and experienced professional guiding you through important financial decisions. They can help you navigate complex financial matters, mitigate risks, and adapt to changing circumstances effectively.
In summary, getting financial advice for the new tax year can help you make informed decisions, optimise your financial resources, and work towards achieving your financial goals effectively.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.
Will writing involves the referral to a service that is separate and distinct to those offered by St. James's Place. Wills are not regulated by the Financial Conduct Authority.
Top Tip from Alex
Goal setting. For those who have more recently had their annual review, you will be aware that we are really trying to help you focus on goal setting. This can be everything from knowing how much you need in retirement to setting a budget for that next dream holiday.
If I had one tip, it would be to write down what you want to achieve, by when, and how much this will set you back. By managing your money, it is more likely you will achieve your objectives. This could involve specifying a lump sum, a monthly amount, or a blend of both. When you next come
to see us, we can start building these into your visual cash flow plan.
Last Month’s Headline
Inheritance tax planning - and how financial planning can be instrumental in mitigating inheritance tax liabilities.
Further Insights
If you’re interested to read further, we also have more useful information on our website which can be found here.
Contact your Adviser
If you’d like to discuss more about this month’s topic, please book a call with your adviser here.
Please note that clicking a link will open the external website in a new window or tab. Links from this newsletter exist for information only and we accept no responsibility or liability for the information contained on any such sites. The existence of a link to another website does not imply or express endorsement of its provider, product or services by us or St. James's Place.
