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School Fees Planning

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SCHOOL FEES PLANNING

The key benefits of our school fee planning are as follows:

Income Tax Savings

No Tax Costs on Transfers

Flexible Planning

Tried and tested planning

If you would like to arrange a free confidential telephone call to see if you qualify for our school fees planning, please get in touch:

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Many parents dream about sending their child or children to private school, but without some form of school fee plan in place (or huge amounts of guaranteed income) it will sadly remain a dream rather than reality.

However, with careful and astute forward planning, it can be possible for many parents to be able to afford the long-term commitment of private school fees.

The main intention with our planning for school fees is to put in place arrangements which can achieve significant income tax savings and allow a war chest to be built up, in a much quicker timeframe than would otherwise be the case, in order to fund your child's private school fees. Without any form of planning, the costs of private schooling will need to be met out of post-tax income.

This will usually involve settling income producing assets into trusts so the income is no longer taxed on the parents (or grandparents or other family members) and, by achieving a zero or lower rate of taxation, the trust will retain more net income from such assets in order to help with the costs of private school fees.

Clients' Objectives

Although our private clients are extremely diverse in nature and come from a variety of different backgrounds, they often share the same objectives including the following:

 

Wanting to give their children the best start in life

Many parents see private education as giving their child a much better quality of education, a wider curriculum, greater individual attention with lower class sizes and the confidence to go out into the world with the belief that they can achieve anything.

However, this requires a financial investment and, quite naturally, if it can be funded in a more tax efficient manner, then our clients certainly want to be aware of the opportunities.

 

Tried and tested planning

Our clients want to use planning which is non-aggressive and has been tried and tested. It also means they can ensure the chosen structure will provide the necessary levels of funding to meet the school fees and additional school costs over the length of the child's life at school.

Key Benefits of School Fees Planning

 

  • Income Tax Savings

The planning ensures that income from the income producing assets is subject to zero or low tax rates rather than income tax rates of usually 40% or 45%.

This can mean a significant help with school fees and can often mean that the private tuition can be fully funded from simply switching investments in this way.

 

  • No Tax Costs on Transfers

With the correct structuring of the school fees planning, there should not be any tax costs incurred in transferring the assets into the trust.

 

  • Flexible Planning

The school fees planning arrangements are extremely flexible in that they can be put in place with any form of income producing assets or even with cash that can then be invested on a client's behalf.

THE NEXT STEPS

If you would like to arrange a free confidential telephone call to see if you qualify for our school fees planning, please get in touch with Newshams Tax Advisers in Covent Garden on +44 (0) 20 3151 0650

 

We look forward to helping you give your children a brighter future.