Is your wealth ready for your future?

financial planning

Before making any changes to how you manage your wealth, we first recommend deciding what exactly you want to achieve later in life – whether it’s moving home or saving for school fees. Calculating how much you need, and by when, could help with setting smaller targets year on year. Then, you can start working on securing your legacy and the financial future for you and future generations.

Once you have built a sufficient cash reserve, one option to grow your wealth for the long term – five years or more – is investing. This gives the value of your wealth the opportunity to appreciate over the years and could outpace variables such as inflation.

Several factors could cause inflation to accelerate again in 2025. Therefore, the purchasing power of your money may depreciate. This highlights the significance of allocating your wealth where it has the potential to maintain its value or grow further.

SET FINANCIAL GOALS

You may not be aware of a number of changes in the budget that could impact your finances in the 2025/26 tax year and beyond. How you achieve your goals may be dependent on what methods you choose to share, save or grow your wealth.

One option to share your wealth, free from IHT, is through gifting. You have an annual exemption worth £3,000 which you could also carry forward from the last tax year if you didn’t use it. If someone in your family is getting married or celebrating a civil partnership, you could also gift them an additional £5,000 if it’s your child, £2,500 to a grandchild or great-grandchild, or £1,000 to anyone else.

Our expert financial planners could discuss with you how best to utilise giftings as well as other tax-free allowances such as ISAs or pensions if you’re looking to grow your wealth further. Cash flow planning could help with deciding with confidence how much you’d need to invest and how much you could share with loved ones.  

Our specialists are here to help you put a plan in place and to get you working towards the future you and your family want. Book an appointment to review your financial situation and take the first step in possibly securing the future of your wealth. 

The value of investments, and the income from them, can fall as well as rise and you may not get back what you put in. You should continue to hold cash for your short-term needs.

Eligibility and advice fees apply for our services. We're here to help, but please be aware that we cannot offer any tax advice. We recommend you contact an independent tax advisor to discuss your personal tax situation. Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances.

CHANGES FOR BUSINESS OWNERS

If you own a business, you could be facing higher costs as an increase to both employer national insurance contributions and the minimum wage come into effect in the 2025/26 tax year.

This could add up to increased expenses for your business. We understand the pressures you may be encountering as a result and could help with managing your finances.

Alternatively, if you have decided to sell your business, changes are afoot that could impact you on that front too.

This is something you may want to discuss with your tax adviser, but it makes it particularly important to achieve the best value for your business when selling it.

We offer a Business Exit Programme designed to help you achieve just that. It covers the logistical steps and mindset involved when putting your company up for sale.