Growing, Managing & Protecting
Your Wealth

Growing, Managing & Protecting
Your Wealth

Growing, Managing & Protecting Your Wealth

So business is going well, your cash balance is building up and your tax bill is . . . how much? You know you need to sit down and look at all this, yet never have the time/inclination?
Don’t worry – I am here to help and I understand the pressures that you face as a practitioner.
With my help and guidance, you can get in control of your personal and business finances to ensure you ultimately achieve what you want out of life.

Financial Planning

Through understanding your individual situation, financial assets and future plans, I will be able to help you achieve your current and future goals.

For some, the idea of looking at their finances (all that paperwork) may feel a bit daunting, but I promise it isn’t! Actually you will feel so much better once you have your finances on track.

Here are ten reasons why you need to do sit down and look at your finances:

  • You are not superman / superwomen, something may happen to you or your family.

  • You can afford to save, you just need to put a budget in place.

  • So you don’t lie in bed worrying about money.

  • Your cash balance is being eroded.

  • You could be saving money on your monthly mortgage payments.

  • You will have a higher disposable income if you invest wisely.

  • So your tax bill does not give you a heart attack.

  • Certain investments will reduce the amount of tax you pay.

  • You would like to retire at some point and live a carefree life.

  • You would like to be able to afford the school fees/holiday/house/car…

As with all new clients, the first thing I will do is have a meeting with you where I can really get to understand your situation. We will get to grips with your real income, expenses and budget before turning to what you have already got in place. From there, I can do a proper review and spring-clean of your finances so you can understand where you are now and what you need to do, to get to where you want to be. This is known as the ‘bread and butter’ of financial planning. Get this right and you will be well on your way to achieving everything you want to achieve.

Grow My Investments

Working hard, earning well and yet you seem to have little to show for it? Your hard-earned wealth should be working hard for you, so you don’t have to! Whether you are new to investments or have an existing portfolio, it is always worth reviewing the investment strategy to make sure that it is working for you as well as it can.

When setting up or reviewing an investment do you:

  • Think about and monitor the investment strategy? Does this match your attitude to risk and time horizon? What performance should I expect, what am I receiving? Will this achieve my future goal? Is the investment competitively priced, is it tax efficient, is it diversified?
  • Or do you just look at your cash balance / investment statement and then file it somewhere and think, ‘Yes, I should look at this in more detail one day,’ or, ‘Yes, I must set up an equity ISA this year.’ . . .

But where to start and where do I find the time to do this?’ I hear you cry. Don’t panic, or put it on the back burner – I can help! I know you have worked hard to get to where you are – now you should reap the rewards. With my help we can manage and grow your personal and business investments in a safe controlled environment, one that you understand and have full clarity on.

Grow Your Pension

Planning for your retirement is expensive – I’m not going to lie! The sooner you address your retirement plan, the easier the planning is. As a business owner, you are in a great position to plan and save for your retirement. You are in full control of your destiny.

The snag, however, is that pensions – one of the most common vehicles we use for retirement planning – have somewhat complex rules (and I’m putting that mildly)! Having worked with many medical practitioners, I have a lot of experience with the NHS pension schemes. I know how they are affected by the lifetime and annual allowance. I am also fully aware of the great advantages that pensions offer, personally and through a business

Whatever you do, don’t delay – retiring is expensive! If you haven’t started your retirement planning, or you’re not sure you are on track, then get in touch and we can put a plan of action in place to grow your retirement fund.

If you have received an odd letter about your annual allowance, or lifetime allowance, or you think perhaps you have breached it – don’t ignore it. Speak to me. I can help and hopefully I can minimise the tax bill, or at least I can explain what it is they are going on about!

Tax planning

Does it hurt paying the Inland Revenue that large tax bill every year? Do you think, ‘surely it can’t be that high? Really? But why?’

Most likely it is because you are not fully using up your tax available allowances and tax reducers personally and through the business.

By showing you how to use all the options – your allowances, tax reducers and tax efficient investments – I can help reduce your income tax, corporation tax, capital gains tax, and inheritance tax bills whilst maximising your wealth.

Protect My Assets For Me & My Loved Ones

The two certainties in life – death and taxes – and perhaps a third, because none of us is a superman or superwoman!

It is all very well – working hard and saving your hard earned wealth – but what happens to you / your business / your family if something were to happen to you?

As a medical practitioner, you are caring for your patients every day and yet most probably have neglected the most important thing – making sure you are okay! This is where I come in. With a bit of careful planning we can ensure you, your practice and your family will be protected should something happen to you.

Financial Planning For The Business

Personal financial planning is vital but your business also has financial demands, challenges, and opportunities.

  • As a private practitioner running a limited company or partnership, do you get frustrated with the money sitting in the bank doing nothing, but knowing that, if you draw an income from it, then you will be taxed? But what can you do?
  • Do you have several employees and need to provide them with a pension and other benefits ­– not only because you want to attract the right employees but also because you want to retain them long term and comply with government legislations?
  • Do you plan to wind down the business in the future and wonder what the most efficient way to do this is?

Together with your accountant I can give you strategies and options to help ensure your business finances are working well for you, helping you get the most from the business now and for the future.

Get in Touch

    Get in Touch