Benefits of school fees advice
There are many reasons to take expert advice when planning your school fees payments. Not only can specialist advice offer peace of mind, but it could also help to save you money in the long term.
Currently, the majority of parents pay school fees directly from their income, which – whether affordable or not – is generally the least effective way of settling the bill. By taking school fees advice and formulating a plan, you can achieve four key things – maximising your wealth, making fees more affordable, ensuring continuous education for your children, and, in most cases, minimising taxation.
Maximising your wealth
By combining certain strategies, it is possible to achieve a common goal. The key is to take advantage of the most appropriate investments and savings, and combine these with efficient tax planning at a time that is right. This can bring about significant benefits that contribute to boosting your family’s overall finances.
We can help plan your future
To find out how SFIA can offer you peace of mind and save you money in the long term, call us today on 01628 566777 or email email@example.com.
Making the fees more affordable
Although paying for one child’s education can be well within a family’s means, difficulty often arises when it comes to paying fees for several children. Overlapping years can place stress on household budgets and increase worry, but this can be averted by using effective strategies to forecast and manage these tough times.
Good planning is effective at any point, but the earlier you start, the greater the potential for savings. Likewise, spreading the cost over a longer time period together with careful tax planning can make education more affordable and increase your wealth in the long term.
Ensure continuous education for your children
If the cost of education becomes too great, there may be no other option but to remove your son or daughter from independent schooling. However, such a decision can be avoided through a combination of forward planning and seeking expert advice. The plans we put in place help ensure that your child can not only remain in independent school but also enjoy its continuous benefits and be able to leave school with an impressive academic record.
Most families pay for school fees using income that has been taxed or assets which are taxed when released, but in some cases it is possible to mitigate or even reclaim this tax through carefully executed strategies. This, in turn, frees up more money and benefits the entire family.