A good time to review personal financial plans?

New year's resolution: year-end tax planning to maximise your wealth.

As we enter a new calendar year, now might be a good time to think about personal financial planning and wealth management – not least because the tax year runs until April – so if you haven’t made use of personal allowances you can use this year’s before you lose them.

A good pension should absolutely be part of your financial planning. If you’ve not made provision for this year then this should certainly be looked at. However for higher earners, recent changes may mean that they find their pension options are severely reduced or blocked out entirely.

Investment schemes

In that case there are still options to consider other investment structuring. EIS and VCT schemes remain a tried & tested way of wealth planning. However they have different benefits, usually come with a degree of higher risk and so are not suitable for everyone.


Property has remained a core wealth holding in the UK for many people. While returns are not guaranteed – and property as an investment can have other challenges – say if you need your money quickly – in recent year’s property has generally continued to generate very good returns.

Again, at least for residential properties, the government has attacked this investment – by increasing stamp duty, reducing interest relief and also other reliefs such as the wear and tear allowance.

review personal financial plans

However property can be a sensible investment if considered as part of your wider planning. For instance a Family Investment Company can be an excellent vehicle for long term planning – particularly if intergenerational wealth transfer – and control – are considerations. Indeed a Family Investment Company can be considered to be more flexible as a holding vehicle for wealth than a traditional trust.

How we can help you

As ever, these matters are complex and need careful consideration – relevant to your circumstances – what is suitable for one tax payer may not work for the next. However it is well worth a conversation with one of our experts. Please do contact us if you would like to come in and talk these matters through.

For more information

For more information on our tax planning service, please contact either:
Linda Warner or Chris Boulet, or call us on:

01483 416232