Independent Financial Life Planners Bishop's Stortford: Creating your own ‘mini- tax haven’

Monday, 25 April 2016

Creating your own ‘mini- tax haven’

Enable’s independent Financial Advisors in Bishops Stortford know that making sure your wealth management is tax efficient is key to building up your portfolio. It has been much in the news recently but there are other ways of creating your own little tax haven without breaking any rules or following the super-rich and hiding money offshore. There are now numerous ways to build long-term wealth in the UK without either falling foul of the taxman or incurring unwelcome tax charges.

One of the easiest ways to build tax-free for the long-term is by using an Individual Savings Account or Isa. Since April 6 you can invest a maximum £15,240 in an Isa for the tax year that started on. Any gains you make from investing will be tax-free and when you come to withdraw any proceeds, there will be no tax to pay. Couples can also double up, investing £30,480 between them in the current tax year while £4,080 per tax year can be invested on behalf of a child in a Junior Isa.

Isas are free of income tax; free of capital gains tax; small companies listed on AIM can be held as well as UK corporate giants; and since last year, Isas can be inherited on death, preserving their tax-free status. By way of contrast, pensions have lost a lot of their lustre because of restrictions on the amount that can be invested (£10,000 per year in the case of some additional rate taxpayers) and the size of pension fund that can now be accumulated. For help deciding where to save Enable’s IFAs in Bishops Stortford can help.

Source: This is Money

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.