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Pensions are not just a tool for securing your retirement—they are also one of the most effective ways to reduce your tax liability. Whether employed, self-employed, or running your own limited company, understanding how pension contributions impact your tax planning can unlock immediate financial benefits while building your long-term wealth.

According to the Federation of Small Businesses, as of early 2024, there were 5.45 million small businesses in the UK (0–49 employees), with approximately 4.1 million of these having no employees. This highlights the scale of the self-employed population.

Planning for retirement has never been more important—or more complex. Today’s workers are likely to have multiple employers throughout their careers, so keeping track of various pension pots can become daunting.

Downsizing your home is a powerful financial planning strategy that can help you achieve a comfortable and sustainable retirement. While pensions, investments, and rental properties are common ways to fund retirement, selling your existing home and moving to a smaller or more affordable property is often overlooked.

When markets become volatile, investments often take centre stage. But true financial planning goes far beyond investments alone. Over the past 30 years, the financial planning profession has shifted from selling products to managing investments to focusing on each client’s unique goals and values.

So how do investing and financial planning relate—and why is it important to understand the difference?

If you’re wondering how global politics could affect your financial plans, the return of Donald Trump to the political spotlight is a good place to start.

One of the most common questions we receive from clients is, “How safe is my money?” This is a valid concern, and it’s crucial to understand how your money is invested and the safeguards in place to protect it. At Ifamax Wealth Management, we want to break down the different components of your investments to help you feel confident in how your wealth is managed.

As a business owner, reducing your corporation tax bill while transferring company money into your own hands is an appealing prospect. One of the most effective strategies for achieving this is by making pension contributions. Not only do these contributions benefit you, but if you are contributing for your employees, you can also offset these payments against corporation tax.

Pension advice plays a crucial role in a holistic financial plan. Every individual has unique financial circumstances, so it’s important to tailor pension advice to your needs. With pensions being a long-term investment, understanding the nuances of what’s important to you and how to maximise the potential of your savings is essential.

Tax planning is crucial to running a successful business, and staying ahead of key tax changes is essential. With evolving tax laws, taking proactive steps now can help you minimise liabilities, optimise your business structure, and ensure compliance with HMRC regulations.

The more we earn, the more tax we pay. Often, it feels like only the super-rich can reduce their tax bills. However, there are simple and legitimate ways for individuals and business owners to lower their tax liabilities.

There's no shortage of adverts telling you how much you need for retirement—£250,000, £500,000, or even more. But the reality is that your retirement savings goal depends on several personal factors, including your income needs, age, lifestyle goals, and aspirations.

Running a business takes time and effort, from initial setup to scaling and growth. With so many responsibilities, financial planning and tax-saving strategies often take a backseat. However, smart tax planning can significantly reduce tax liability and free up capital for business growth.

According to the National Statistics Office, self-employed individuals comprise around 13% of total employment. Prospect.org.uk reports they contribute over £300 billion to the UK economy, around 14% of GDP.

As business owners, your time is often consumed by the day-to-day demands of managing your team, pursuing growth opportunities, and building relationships with clients. Unfortunately, this means financial and tax planning takes a back seat.

As a business owner, we know you are busy building, managing, and maintaining your company. That often means your financial planning takes a back seat.

Pension planning is often overlooked, especially as we establish our careers or build our businesses. At every stage of the journey, there is usually little time to focus on planning, yet this sets the foundation for when we can retire and the level of income we can expect to receive.

Learn how to plan for a comfortable and worry-free retirement with practical insights and expert guidance. Explore benchmarks, tax-efficient strategies, and personalised planning tips to secure your future.

Discover the key differences between wealth management and financial planning. Learn how each service caters to different financial needs, from foundational planning to complex asset management, ensuring your financial goals are met.

Unlock your financial potential with expert wealth management services from Ifamax. Our tailored strategies in tax planning, investments, and risk management help secure your long-term financial success.

Choosing the appropriate financial help can be crucial to managing your finances effectively. In the UK, financial advice professionals have three main titles: financial advisers, financial planners, and wealth managers.

Wealth management is often perceived as a service reserved for the rich and famous. However, with the rapid rise in house prices and the increasing complexity of financial planning, more people need a wealth manager.

Retirement planning extends beyond managing assets. It involves establishing long-term relationships with financial advisers who can guide clients through the complexities of retirement.

In 2023, Bank of America analyst Michael Harnett began using the phrase “Magnificent 7” to describe the biggest seven stocks in the US (Apple, Microsoft, Alphabet, Amazon, NVIDIA, Tesla and Meta Platforms).