8th August 2022
Inflation Eating Yours Savings?
This week, Woodward Markwell will be looking at the options available to savers during unprecedented times of high inflation and the options available to them to help reduce their overall tax bill when inflation starts to increase.
As your income grows, so will the complexity of your finances. Tax efficiency is an important factor to consider when investing because it can make a significant difference in your wealth and quality of life.
The type of investment and tax-efficiency you should seek, however, is determined first by whether your priority is to save a lump sum for the future or to draw an income today.
UK taxpayers can benefit from a variety of allowances and reliefs on their savings and investments. It is critical to take advantage of these because they can help to reduce your overall tax bill.
If you need advice regarding your savings, contact us today otherwise please visit again tomorrow for the next instalment where we will be exploring ways of maximising your ISA allowances.