Bespoke Plans for Contractors

Contracting can be great as it can offer you greater career/financial opportunities.

However, this can come at a price regarding financial security and stability.

You work hard for your money. This can lead to you being time poor. Add in that you have to do so much more than an average employee – negotiate contracts, raise invoices, manage your tax affairs, etc – leaving you limited time to manage your own personal finances.

Where we can help:

  • Set up your personal affairs in the most tax efficient way considering your goals and your various financial requirements
  • Balance savings and tax efficiency with your short/medium/long term goals
  • Protect your income and your family should something happen. Some policies can be paid by the company saving you Corporation Tax
  • Identify mortgage providers that understand how contractors work. Helping you get the best deal on a new mortgage/remortgage
  • Grow your wealth, whilst considering the Inheritance Tax implications. We can help you plan for your money to pass to your family how you want.

Questions you should be asking yourself:

  • Are my finances set up in a way that can cover my financial needs if I am out of work for an extended period?
  • What happens to my house / finances / family if I am unable to work due to accident or serious illness?
  • What age do I hope to retire and what income am I on track to generate when I am no longer wanting/able to work?
  • Are my personal finances set up in the most tax efficient way?
  • Do I utilise the different tax allowances available on my personal affairs – Capital Gains, Dividend, Savings Allowance?
  • Could some things be paid by my company that would reduce corporation tax?
  • Have you done everything you can to ensure that in the event of you/your partners death, your personal assets pass to your beneficiaries in the most tax efficient way?
  • We will be pleased to meet with you at a time and location convenient for you. The initial meeting provides a no obligation, financial health check.

Please contact Wilcox Day Wealth Management or alternatively 0330 122 1975 to arrange a meeting.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

We offer a comprehensive range of mortgages from across the market, which lenders make available to mortgage intermediaries.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Got a question?

If you would like to speak to us about a particular issue or wish to find out more about the services we offer, please get in touch.