Financial Services

Taylor Hartley Partnership has committed to Independent Financial Advice from the outset as this enables us to provide advice tailored specifically to your needs from the ‘whole of the market’ rather than an inflexible, restricted range of products. Our advice process has several stages but initial meetings are without obligation and can be arranged at our offices or your home or business, at your convenience, often outside of normal office hours.

We will provide you with a detailed client proposition explaining our ongoing services and our terms of business which will transparently detail our costs and product charges to avoid any confusion or misunderstanding. These charges will be agreed with you at outset with signed terms of business. All necessary administration will be conducted on your behalf and we will monitor progress until completion. Passwords will be provided to enable you to log in to our website and access your own personal records and valuations.

Our advice covers an extensive range of subjects but our core areas are as follows:

Basic Family Protection

This subject is, without doubt, the most important area of advice for families. It is imperative to ensure adequate resources are available to discharge mortgage borrowings and provide income for your family in the event of death or diagnosis of a life threatening illness.

It is extremely rare to meet a new client who has their affairs totally in order and most people will have some provision in place but this is usually inadequate or more expensive than is necessary. We offer a complete review of your protection policies free of charge to ensure peace of mind for your loved ones.

Mortgage Borrowing

Arranging a mortgage in today’s current climate is significantly more difficult than it used to be when lending criteria was extremely flexible. Current lending rules are very strict especially since Covid-19 and sourcing the right lender with the right deal, requires an in depth knowledge of the products available and expertise in dealing with lenders. We will also liaise with your Estate Agents and Solicitor to take the stress out of your property purchase.

Long Term Care Fees & Later Life Planning

This is a technically complex area which requires specialist qualifications and has been developed over a number of years within the Practice culminating in an accreditation from the Society of Later Life Advisers (SOLLA). The subject of Long Term Care is an emotive one due to the financial pressures placed on families and the sale of assets, not least the family home. Early planning can ensure your family retains control of your assets rather the Local Authority or a Court Deputy.

Planning for Care fees requires a comprehensive understanding of current legislation and the Department of Health’s Charging for Residential Accommodation Guidelines (CRAG).

Our expertise encompasses the following areas:

Wills - To ensure your intended beneficiaries receive their inheritance on your death.
Lasting Powers of Attorney - Should you be unable to make decisions due to lack of mental capacity you will need to have appointed attorneys and have officially registered them with the Office of the Public Guardian. This needs to be addressed in advance of diagnosis of any loss of mental capacity, to avoid possible intervention by the Court of Protection.
Use of Trust Planning - Effectively placing assets in a ‘deposit box’ to ensure your intended beneficiaries receive their inheritance without challenge.
Equity Release - Essentially, a last resort but in some circumstances imperative to purchase sufficient income to meet care fees and protect at least some of the estate.
Effective Investment and the use of Insurance Bonds - A simplified investment which can be arranged on a joint basis to provide the potential for capital growth and income to suit your ‘risk profile’ - a capital guarantee is also available.

Investment & Savings for the Future

Investments are the most daunting and complex area for consumers due to the potential risks involved. During the credit crunch of 2008 and the Covid-19 pandemic, billions of pounds were lost when markets collapsed creating a ‘new world of fear’. The FTSE100 plummeted from around 7600 in January 2020 to a low of 4800 during lockdown. Markets recovered but are still subject to significant fluctuations as a result of world events and government policy which is more stable now than in 2022 with positive performance for many sectors. Our knowledge and independent status means we are able to adapt to market forces and provide a positive experience for our clients.

University Fees Planning

Every parent wishes to give their children the best opportunity in life and this is usually by virtue of a good education. University fees will result in a generation amassing significant debt before stepping on the first rung of their career ladder.

Child Benefit for your first child is £25.60 per week for 2024/2025 and if £110.93 per month is saved over eighteen years, a fund of £42,608 will be accumulated at a compound return of 6.0% demonstrating the power of compound interest on regular savings. University may not be a priority but at least a fund will have been created to assist your child’s future and we have a variety of savings strategies to help savings grow.

Retirement Planning

The retirement savings gap is a major concern for the Government which has resulted in the introduction of Automatic Enrolment into Work Place Pensions. Mandatory contribution levels will not provide sufficient funds to generate a ‘living income’ in retirement and it is now time for both the employed and self-employed to take control of their own savings for the future and create financial independence at the earliest possible age.

We suggest an appraisal of your current circumstances and we will work with you to create a strategy for a comfortable retirement.

Inheritance Tax Planning

This topic is often described as the ‘voluntary tax’ in that prudent planning can wholly mitigate a tax liability.

In 2007, the Second Nil Rate Band was introduced meaning a couple can benefit from a threshold of £650,000 without incurring any tax liability. The introduction of the Residence Nil Rate Band (RNRB) in 2017 has further increased the nil rate threshold when leaving property to lineal decendants. The RNRB increased to £175,000 for April 2020/2021 tax year, meaning a couple can now claim a nil rate threshold of £1,000,000 removing many families from an Inheritance Tax liability.

We are able to create several solutions to the problem of Inheritance Tax but each case has to be considered individually.

Contact Us

Please direct all enquiries to:
Tel: 0191 594 5073
Email: enquiries@taylorhartley.com
Or via our enquiry form.

We have known you since 2007 when Lesley's aunt passed away for whom you were her financial adviser. The association with you and the advice you have given us has been more than beneficial as all your advice has allowed us to have proper and safe investments and to know that the money we have invested is working for us to have a comfortable life. You are always available for advice and when my mother needed a financial package to cover the costs of nursing care, your help once again proved excellent and she was able to live with all the care she needed without any fear that the costs would not be met. We have been proud to recommend you to other friends and would continue to do so. Mr and Mrs Bogart - Buckinghamshire

Taylor Hartley are always available for advice and when my mother needed a financial package to cover the costs of nursing care, your help once again proved excellent and she was able to live with all the care she needed without any fear that the costs would not be met.

More Testimonials

Financial News from Taylor Hartley

Capital Gains Tax update

The areas that will impact most savers are the changes to the tax-free allowances for capital gains tax and dividends tax.

The current tax-free allowance for capital gains tax (CGT) is £12,3000. Capital gains is defined as the capital growth that the investor witnesses on their initial investment. This means the first £12,300 of growth is currently not taxable. However, from April 2023 this threshold will be reduced to £6,000.

This may apply to an investor holding assets within a General Investment Account where a tax liability is created as assets are bought and sold or if withdrawals are made.

It is imperative that ISA allowances are maximised to legitimately avoid CGT but there are other tax efficient investment vehicles to be considered within a portfolio.

Many of these changes are complex and require a professional financial adviser to calculate and plan the best possible course of action. If you think these changes may impact you, contact us and we will plan your future strategy.

Later Life Advisers Financial Planning Investment Management