Financial services are complicated and so the help of a trusted local Adviser to take you through financial planning in Tamworth either at your home or place of work is invaluable. Many people don’t fully understand what proper financial planning is and at Four Oaks Financial Services we have taken planning to a new level. We call it lifestyle financial planning .
We believe that money needs to be accumulated to be used, not just saved without any firm goals in mind. We often see people who have accrued more money than they will spend, and this also leads to problems with inheritance tax when they pass away. The purpose of financial planning for our clients in Tamworth is to help them achieve what they want in life, for themselves and for their families. This can be everyday things such as the annual family holiday or perhaps paying off the mortgage early. But these things don’t just happen, they need to be planned for and in the wider context of lifestyle financial planning in Tamworth we look at everything you need to spend your money on from today to your retirement and beyond.
Your home may be repossessed if you do not keep up repayments on the mortgage.
Many people do their own planning. They have ISAs, and they use their annual allowances. They have pensions. They have a house. This all sounds great, but if you are not an expert Financial Adviser you may not know that if you die ISAs can be passed on tax free, but only to your spouse. The value of your house could put your estate over the Inheritance Tax threshold thus leaving your children to pay 40% tax on anything over £325,000. Pensions may not have been reviewed for many years and may be in higher risk funds, when the client, especially when nearing retirement would prefer a more cautious approach.
The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.
Investors do not pay any personal tax on income or gains, but ISAs do pay unrecoverable tax on income from stocks and shares received by the ISA managers.
The FCA do not regulate inheritance tax planning.
Tax treatment varies according to individual circumstances and is subject to change.
Our Financial Advisers are available to carry out financial planning in Tamworth, or at our offices, whatever is most convenient for you.