Financial planning is the process of taking control of your individual or company finances and then making your money work for you. If you do not plan, the chances are that you will not make the most of your money. Planning is much easier if you undertake the process with the help of a skilled practitioner who is well accustomed to helping people define their aims and work out how best to achieve them, with the below processs being examples.
Financial Planning - Mortgage
A mortgage is probably the largest financial transaction and commitment you are likely to undertake. At any one time there may be hundreds of different mortgage options, only some of which could meet your needs. There are so many types of mortgage available that it is easy to become confused, possibly opting for the product offering the lowest headline rate of interest. But when booking and arrangement fees, conditional insurances, higher lending charges, lock-ins and early repayment charges are taken into account, the products may not be as attractive as you might have first thought.
We provide mortgage advice which is individually tailored to your current needs and requirements, ensuring that this critical part of the house buying process is handled with minimum hassle and maximum efficiency.
Commercial mortgages are are provided for business and company requirements. We will look at the best and most competitive lending to best fit the need of our client.
We will source all mainstream and boutique lenders in the industry.
We assist with mortgage protection for your peace of mind and will provide the best products in conjunction with your mortgage or solely for life assurance needs.
Financial Planning - Bridging Loan
Bridging loans are a short-term funding option. They are used to 'bridge' a gap between a debt coming due and the main line of credit becoming available. Bridging loans are primarily used in property transactions. They can also simply act as a short-term loan in pressing circumstances.
We have a multiple of private finance companies able to assist, if we conclude mainstream lending is proving difficult.
Financial Planning - Pension
Pensions are still one of the most tax-efficient way for most people to help provide for their retirement. The large minority of the working population that are still members of defined benefits (or salary-related) pension schemes will have a generally attractive and secure means of building pension benefits. The remainder who depend on defined contribution (or money purchase) schemes will find that the tax advantages normally outweigh the restrictions on access and the other rules.
If you are a business owner, you could find that your pension scheme is a useful tax vehicle to help achieve your financial objectives.
Group pension schemes can be beneficial for you and your employees.
Financial Planning - Tax
Tax could be one of your biggest single costs. So it is not surprising that tax planning is one of the key aspects of formulating a financial plan. There is often a considerable amount that can be done to reduce the impact of taxation. The main types of tax are:
Tax on your earnings can have a major impact in the form of income tax and national insurance contributions as well as the corporation tax levied on a company’s profits. Planning can be very effective encompassing such areas as pensions and employee benefits and the use of alternative methods of drawing profits from your company.
Tax on your investments can erode a high proportion of your income and gains. Tax should not be the main driver of investment strategy, but planning can make a considerable difference to our after-tax returns.
Tax on your estate can take up to 40% over and above the nil rate band. It was perhaps excessively harsh of a previous Chancellor of the Exchequer to describe inheritance tax as a levy on people who disliked their families even more than they disliked Her Majesty's Revenue & Customs (HMRC). Nevertheless, the scope for effective and totally legal tax planning is very considerable.
Consultants who specialise in tax planning, would be pleased to assist.
Financial Planning - Offshore Company Formation
To set up an offshore company or relocate your existing business overseas is a crucial step toward internationalizing yourself and your assets. Company formation can be done in Panama, the British Virgin Islands and other jurisdictions with a range of other “benefits” for the designated jurisdiction in question.
There is a current misconception that offshore business is about evading taxes and hiding money from the government, which is certainly not the case.
There are 100% legitimate ways to structure your business interests overseas and realize significant benefits from an asset protection standpoint — as well as tax-standpoint.