Sydney Charles is able to offer comprehensive financial advice
on how best to meet and protect school fees payment. We are aware
of the importance of ensuring continuity in children's education.
As part of this service provision, we assist with effective
planning which ensures there is no disruption at any point
regardless of how other circumstances change.
There are three main approaches to the provision of school fees
cover. The first is to spread the cost, secondly, to invest a lump
sum to meet the fees and thirdly, to set up a regular savings
scheme to provide funds to cover future outlay.
Anyone considering school fee provision needs to talk to a
Sydney Charles adviser because there are many factors which are
relevant when selecting one of those three main options. These
include the fee payers attitude to investment risk, the current
rate of tax of the parents and their existing investment portfolio
or income.
Spreading the cost schemes, in essence, dilute a proportion of
the fees over a longer period, such as 10, 15 or 20 years. Features
include flexible drawdown, a dedicated school fees bank account,
loan facility and tax efficient offsetting.
Those opting to earmark a lump sum can enjoy maximum tax
efficiency and portfolios geared to the client's attitude to
investment risk. Client who prefer regular savings plans can
put these into position immediately their children are born.
Options include using a tax efficient offset mortgage account,
tax-free ISA or planning to cover any increases in fees once a
child reaches secondary age.
Payment protection cover provides ultimate peace of mind against
unforeseen circumstances or serious illness suffered by the fee
payer.
Sydney Charles can also offer trust planning, which is useful
for grandparents who want to make provision for school fees and
achieve inheritance tax benefits.