You & your family


Time in the market not timing the market

04 Oct 2023

How many people have lost money trying to ʻplayʼ the markets?

Is Cash King Again

19 Sep 2023

Why attractive bank interest rates might not be all they seem. For the first time in 15 years UK savers can now park their money with a high street bank and earn circa 5% interest.

Ellacotts Wealth Planning Newsletter January/February 2023

10 Jan 2023

Taxing Times, time for a tax health check. Don't miss the SA deadline. Use your tax-efficient allowance or lose it forever! No 'one-size-fits-all' protection solution, helping you feel confident your family's finances are secure.

Ellacotts Wealth Planning Newsletter September/October 2022

06 Sep 2022

In this issue: Putting life on hold, Cost of living crisis delays homeownership, having children and retirement. Inheritance tax receipts reach £6.1BN, Cash may not be king, Navigating the higher rate tax freeze

Ellacotts Wealth Planning Newsletter July/August 2022

01 Aug 2022

In this issue: How to invest your money and avoid costly mistakes. How to benefit from tax reliefs in the current financial year. What really important retirement questions should you be asking? 3 tips to maintain your financial wellbeing.

Ellacotts Wealth Planning Newsletter May/June 2022

15 May 2022

In this issue Passing on wealth to the next generation Tax uncertain times Gender pension gap widens Future Wealth

Ellacotts Wealth Planning Newsletter March/April 2022

17 Mar 2022

Invest your way out of Inflation Why now is the time to make sure you protect your wealth

Ellacotts Wealth Planning Newsletter January / February 2022

07 Jan 2022

NEW YEAR’S TAX SAVING RESOLUTIONS. Make full use of your relevant tax planning opportunities

Related news

Invest into a pension for your children

Invest into a pension for your children

Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives.

Everything you need to know about ISAs

Everything you need to know about ISAs

We’ve answered some typical questions we get asked about how to best use the ISA allowance to help make the most of the opportunities as this tax year draws to a close.

Wealth Management 

Planning your finances for the future can be one of those things that is easy to put off. Our specialist Ellacotts Wealth Planning team take away the hassle and deliver tailored financial planning to suit you and your family. 

Whether you are looking to discuss investments, pensions, retirement options, life and illness insurance, tax advice or matters related to a business, our wealth management team can help. 

Why family wealth management?

The money you’ve worked hard to earn won’t look after itself – it takes careful stewardship and active engagement to make sure it retains its value and, ideally, shows long-term growth. 

Wealth management is about defining what you want to achieve – what a comfortable life looks like for you and your family – and then arranging your finances accordingly. 

From minimising tax to making calculated investments, it puts you in control and means you’ll spend less time worrying about what the future might hold. 

Wealth management services

Our part in the process is as expert advisers, providing you with options and the information you need to make intelligent choices with confidence. 

Our in-house Independent Financial Advisers will work with you to forecast and plan, identifying tax-efficient ways to save and invest. 

We’ll also help you work through the options around savings and pensions, modelling the results of various scenarios so you can make informed judgements and work towards your dream retirement.  

Family wealth management products

Our team have extensive knowledge of financial products available on the market and a track record of matching them against client needs. 

Individual Savings Accounts (ISAs) allow you to save up to £20,000 a year across different types of ISAs. Savings and investments are free from Income Tax and Capital Gains Tax. 

Junior Individual Savings Accounts (JISAs) allow you to save for your children’s or grandchildren’s first car or for a deposit on their first house. Find out more about Junior ISAs and children’s savings here. 

General Investment Accounts (GIA) have similar investments to stocks and shares ISAs but there are no annual investment limits. However, gains on investments are potentially liable to Capital Gains Tax and Income tax is due on dividends and interest. 

Investment bonds are life insurance policies that aim to provide capital growth or tax-efficient income. You can withdraw up to 5% a year (minus any charges) tax-free. When you cash the bond in, non or basic rate taxpayers don’t have any tax to pay. Higher rate taxpayers are liable to 20% tax on any gains made. 

Family wealth management, pensions and retirement planning

Pensions are one of the most tax-efficient investments available as you get tax relief on your contributions at your highest marginal rate. When you retire, up to 25% of your fund is available as a tax-free lump sum. You can pass on your fund tax-free if you die before you are 75. 

We can help you with your pension and retirement planning.


Do you need help with your savings and investments?

Inheritance Tax Planning 

Inheritance Tax (IHT) is probably the most hated of all taxes. You work hard, pay taxes on your income, save for the future and pay taxes on the growth or interest (non-tax sheltered investments), then when you die further tax is payable on your assets.  

There are ways of investing to mitigate IHT, as well as other reliefs such as Agricultural Property Relief and Business Property Relief. We will work with your accountant to ensure that the advice we give compliments the advice they have given you. 

We are not always able to mitigate IHT. In these cases, it might be possible to take out an insurance policy to pay the tax. This plan would be written in trust to ensure it does not fall into your estate. On death, the proceeds can then be used to settle any IHT due. 

Managing your wealth through business investment

There are three particularly tax-efficient ways to invest in companies: 

Venture Capital Trusts (VCTs) are high-risk investments offering attractive tax reliefs for investing. You can invest up to £200,000 a tax year but you need to keep the shares for 5 years to get the maximum tax relief. 

Dividends are tax-free and can either be taken as income or reinvested into the VCT.  There is no Capital Gains Tax due when you dispose of the shares. 

Enterprise Investment Schemes (EIS) are similar in structure and risk to VCTs but you only need to hold the investment for 3 years to retain the tax breaks. 

The maximum annual investment is £1,000,000, with the option to carry an investment back into the previous year. 

Investments are exempt from Inheritance Tax after two years, as long as the investment is held at death. 

The Seed Enterprise Investment Scheme (SEIS) offers tax-efficient benefits to investors in return for investment in small and early-stage startup businesses in the UK. 

You can invest a maximum of £100,000 each tax year, which can be spread over a number of companies. 

Up to 50% tax relief is available in the tax year the investment is made. The investment must be held for three years to fully qualify for the tax reliefs. 

Speak to us about devising a saving and investment strategy that works for you. 

Chris Slatter

Wealth Planning Director


Jo Mara

Chartered Financial Planner


We can also help you with

Personal tax planning

We will help you complete your tax return and minimise your personal tax liabilities by planning income and gains.

Authorised and regulated by the Financial Conduct Authority. Registered in England and Wales under company number 07801188.

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