Apsire Partnership Brochure - page 14

Thepredicament
Anemployeeof anaccountancy firmwasmadePartner andas a result
his income and benefits increased significantly. Although he is very
“switched on” and has run his own finances for years, he is extremely
busy and relatively disinterested in financial planning. As a result he
had not altered his investment habits andwas potentially about to pay
£45,000 in tax.
Thesolution
Aspire agreed a one off fee for a project and came up with a solution
that was workable within the tight time frame. We prevented him from
becoming liable for the £45,000 tax and as a result, he is a further
£25,000 better off this year. We have given him an action plan which,
assuming his circumstances remain the same, provides him with a
suitable investment strategy going forward.
Thenittygritty
Since he had been making pension contributions, we were able to
calculate his carry forward allowances, thus permitting larger pension
contributions. Withdiligenceonhow thecontributionswere structured,
we were also able to bring his income down below the 45% and the
40% tax threshold, thus saving him considerable income tax.
Realpeople,
real life
CREATION 01
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