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Comment from a contact

March 2017

Karen Last, Clayden Financial

Spring clean your finances - before the year tax end!

If you (or your partner/spouse) can answer “No” to any of the following questions, you may need to see your financial adviser without delay:

  1. Have you maximised your pension contributions this tax year - especially if you are a higher or additional rate tax payer? Or even if you have no earned income?
  2. Have you transferred your married person’s allowance to your spouse, where it is appropriate?
  3. Have you checked that you do not exceed the new pension lifetime allowance?
  4. Have you maximised your ISA contributions for this tax year (£15,240)?
  5. Have you reviewed any frozen pensions in the last three years, including any defined final salary schemes?
  6. Did you know you can now touch your pension funds from the age of 55, where appropriate?
  7. Have you made full use of your capital gains tax allowance for this year (£11,100 per person)?
  8. Have you made full use of the annual exemption under inheritance tax legislation (£3,000 in total, plus £250 small gifts and special one off amounts eg for marriages etc)? Can you still bring forward your allowance from last year?
  9. Did you know that you can make regular gifts from excess income and that they do not normally count towards your inheritance tax liability?
  10. Did you know you can now pay yourself and other shareholders £5,000 of dividends per annum, per person, from a limited company, usually without further tax liabilities?
  11. Do you know when you will receive your state pension and how much it will be?

So many questions, so many answers! – Don’t just leave it to chance.

We offer a free initial meeting to discuss your needs and to agree suitable objectives.  We then identify sensible solutions that work for you in the short and longer term.  Your plans are then kept under regular review, and adapted as your circumstances evolve.

Karen Last, Clayden Financial

About Clayden Financial:

Clayden Financial has been established for 23 years and provides a full range of independent financial advice to individuals and businesses.

About Karen Last (Adv CeMap, Dip FA)

Karen has over 35 years’ experience in the financial services industry and can advise on many simple and complex scenarios.  She is passionate about building long-term relationships with clients by providing sound, practical advice which is not influenced by fee income or quick, fragile solutions.  Contact Karen at Karen@claydens.com

Clayden Financial is a trading name of Clayden Financial Planning Ltd which is authorised and regulated by the Financial Conduct Authority.

The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions, views or policy of Prettys LLP.

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