Find-A-School UKThe definitive UK guide to finding an Independent UK Private School |
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Like most long-term financial planning it is of great importance to obtain the correct advice at the outset so that future events can be anticipated. The planning must be thorough and take into account many factors both of a family and financial aspect so that the resultant plan has a good chance of meeting its objectives and yet be flexible enough to cater for the changes that have to be made. My role as an Independent Financial Adviser would be to look at the broad picture to achieve a realistic plan that is affordable to all of the parties involved. The provision of school fees can be made out of salary or immediate income through lump sum investment, borrowing or regular savings. I would begin my fact finding mission taking the following points into consideration: - l. Are Parents/Grandparents in an improving or declining financial situation? What can they afford? 2. What time scale do I have to work with? i.e. short or long term. |
3. What happens if parents circumstances change through divorce, death, moving abroad etc 4. Producing a workable plan that would cater for a rise in inflation of up to 10%. 5. Accessibility of the investments to meet the fees as and when they arise. The plan should also take into account • The independent taxation provisions. • The tax efficient use of ISA's. • The £3,000 annual gift exemption. • The £7,900 Capital Gains Tax exemption available to both husband and wife. • The role that Grandparents can play. < Back | Page 1 of 2 | Next > |
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