Time Is Short – Lock-In Your ISA & Pension Tax Breaks Before 6th April 2019 – Independent Financial Advice for Pensions and ISA’s

The end of the tax year is fast approaching. Now is an opportune window to ensure that you are making the most of investing in ISA and Pension plans to lock in the available taxation benefits in advance of 6th April, 2019.

Broadland Consultants Limited, Independent Mortgage and Financial Advisors, can provide pension and financial planning services for our clients. If you are based in Norwich or Norfolk, our team of Independent Financial Advisers, can assist with pension advice, and advise about reviewing/investing in ISA’s.

We can offer a consultation to review your financial plans, and ensure that your ISA and pension planning is on track. We can assist with:

  • Checking that you’re still investing in the most efficient mix of assets to achieve your financial goals.
  • Explore different investment planning strategies and review that your investments match your risk profile.
  • Review your personal situation to take full advantage of available tax reliefs.

Below is a basic summary of the tax relief available through ISA and Pension investments.

ISA

The total amount you can save in ISAs in the 2018/19 tax year is £20,000. You can choose to use your ISA allowance in a cash ISA, a stocks and shares ISA, an innovative finance ISA, a lifetime ISA or any combination of the four as long as you don’t exceed the annual allowance. It’s worth reviewing the substantial tax breaks that ISAs can offer. To start, you don’t pay income tax or capital gains tax on the returns from an ISA. In addition, you are not required to include ISAs in your tax return, nor any income or growth from them.  Finally, your money can continue to benefit from these tax advantages as long as it remains invested in an ISA. Our investment advisers can assist you in reviewing your options *Tax rules may change in the future and tax treatment depends on your personal circumstances..

Pension

If you’re a UK taxpayer, in the tax year 2018-19 the standard rule is that you’ll get tax relief on pension contributions of up to 100% of your earnings or a £40,000 annual allowance, whichever is lower. Our pension advisers can assist you in reviewing your options *Tax rules may change in the future and tax treatment depends on your personal circumstances.

If you’re a business owner, your limited company can contribute pre-taxed company income to your pension.  Because an employer contribution counts as an allowable business expense, your company receives tax relief against corporation tax, so the company could save on corporation tax. Our pension advisors can assist you in reviewing your options *Tax rules may change in the future and tax treatment depends on your personal circumstances.

If you would like Broadland Consultant’s assistance in reviewing your Pension and ISA options please get in touch via 01603 278278 or via https://www.broadlandconsultants.com/contact-us/

* The value of investments can go down as well as up, and past investment performance is not necessarily a guide to future performance.**This text should not be relied upon to make financial decisions, please contact us to book a meeting with an adviser.