Quote of the Day –

“A stumbling block to the pessimist is a stepping stone to the optimist – Eleanor Roosevelt”

Never give up is what we say at 1st Financial Foundations – Independent Financial Advisers

Tax checklist on buying a property

We at 1st Financial Foundations are always looking to update our clients on how to be tax efficient. This is a great article by Alan Pink who offers a helpful list of tax issues to consider when purchasing a property.

It’s generally recognised that buying a property comes somewhere on the list of highly stressful activities, along with divorce, Christmas, and filling in a VAT return. But the stress involved with arranging finance, chasing your solicitor, chasing your vendor, and wading through reams of ‘searches’ and so on, shouldn’t deflect your mind from considering the potentially very important tax aspects surrounding acquisition of a property.

So, here’s a check list, which hopefully will get you at least asking the right questions, from a tax planning point of view, when approaching a property purchase.

Lifetime ISA – What you need to know

 

The new Lifetime ISA launch date is 6 April 2017. It will be a no-brainer for first-time buyers as the government will add a 25% bonus on top of what you save – this means there will be £32,000 of free cash. For retirement savings it works the same way, but whether it beats a pension or not is a much trickier conversation. If you would like to assess the options available to you, please contact 1st Financial Foundations for further information on 01908 523 420 or email info@1stff.co.uk