Now, with the end of the tax year fast approaching, is a good time to spring-clean your finances, for instance to make sure that your pension savings are on track and that you are making the most of the various allowances and tax reliefs to which you are entitled.
Here are a few tips to help you optimise your finances in the 2018/19 tax year – and possibly for many years ahead. To be effective for the current tax year you need to act before 6 April.
Use or lose annual allowances
Using the annual allowances that the government makes available to you each year can help you shelter as much money as possible from tax in the future.
Reducing income tax
This is particularly important for people with income of £50,000 – £60,000 and who could lose child benefit.
As ever, there are pros and cons to these suggestions and it is important to understand the full implications of what you are considering. It therefore makes sense to talk to one of our professional financial advisers before you act. As Napo’s preferred provider of financial advice, we specialise in helping people like you achieve their financial goals. The advice we provide is practical, affordable, easy to understand and specific to you.
Complimentary initial consultation
We are offering every Napo member a no obligation, complimentary initial consultation with one of our professional financial advisers.
Book your complimentary, no obligation initial consultation now! Call freephone 0800 085 85 90 or email firstname.lastname@example.org.
The value of your investments can go down as well as up, so you could get back less than you invested. A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation. Tax advice which contains no investment element is not regulated by the Financial Conduct Authority
Lighthouse Financial Advice Limited is an appointed representative of Lighthouse Advisory Services Limited, which is authorised and regulated by the Financial Conduct Authority.