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Building and protecting your wealth

Posts Tagged ‘family finances’

FRIDAY FAQ: Which should I choose, life cover or income protection?

Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to

Is it time to downsize?

Do you find yourself in the position where your children have grown up and have moved out? If so, have you thought about downsizing? There can be some distinct financial advantages to living in a smaller property, which may enable you to use the money for better causes in your retirement.

Mental health is affecting doctors and dentists – is your income protected

Being a doctor or a dentist is a rewarding and fulfilling career, but it can also be extremely stressful and challenging. Research carried out by the Practitioner Health Programme (PHP) a specialist service for doctors and dentists that are located in and around the London area, shows that people who work in the medical profession have […]

The big ‘what if’ question

Many couples who decide that they want to have children are waiting until later in life to do so. Some of the reasons around this involve money matters and certainly once you make the decision to be a parent you have greater financial responsibilities. “What if” something happens to the key household earner?

Tax efficient investments for your children 

If you are a doctor or dentist who is thinking of gifting money to your children or grandchildren that can be used for future expenses such as university fees or the deposit for their first home, there are differing tax efficient investment strategies available. These tax strategies allow you to take advantage of the child’s personal […]

Why you may need power of attorney 

According to HMRC, a lasting power of attorney (LPA) is a legal document where you the donor, point one or more people (known as attorney’s) to help you make decisions or make decisions on your behalf. Granting power of attorney to someone is something that is often associated with elderly people. However, we could be inflicted […]

FRIDAY FEATURE: Add your children as shareholders to save tax

If you are a Doctor or Dentist that operates via their own private limited company you will probably be listed as the Director of that company and thus withdraw most of your income via dividends. It may be possible to spread these dividend payments amongst family members by adding your children as shareholders.

Spring Clean your Finances this Month

The notion of spring cleaning is waning these days, however instinctively spring is a season of action. After hibernating, or being less forthcoming in winter, spring gives the sense of new opportunities. There are several reasons why the month of May is the best time to give your finances a proverbial “spring clean”, ensuring you […]

7 Financial Traps And How Best to Avoid Them

As a busy doctor or dentist it is understandable that keeping on top of financial matters often gets left at the sideline. If your finances are organised, you have no debts, a solid retirement plan and measures to protect your wealth, then you are off to a good start. However, typically most people don’t maximise their […]

FRIDAY FEATURE: Reducing your Inheritance Tax Bill

Inheritance Tax (IHT) is a cost that almost all doctors and dentists are conscious of reducing. It is important, understandably, to want to pass on as much wealth to your family and to not see thousands of pounds disappear to the tax man. There are the traditional ways to reduce your IHT. Here we also […]

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