At Elevation, it’s our mission to keep those costs as low as possible and make your money work smarter and harder for you.
The vast majority of parents (80%) pay school fees direct from their income. This is highly unlikely to be the most efficient way, irrespective of whether or not the fees are easily affordable.
There are four main reasons why a school fee plan can be a good choice for you.
- It makes the fees as affordable as possible
- It avoids any unwanted changes in your child’s education
- It maximises your wealth
- It minimises your tax
Making the fees more affordable
If you have more than one child the overlapping years with multiple school fees can be the most stressful, adding extra unwanted pressure on the family budget. Elevation’s well-planned strategies help to manage these peak periods, keeping costs down and avoiding financial hardship. Starting your plan as soon as possible will help you to maximise your potential savings while spreading the cost over a longer time period can also make education more affordable.
Avoiding unwanted changes in your child’s education
Remove a child from a fee-paying school can be an incredibly difficult decision. A combination of good advice and forward planning should ensure it never happens. Our plans will enable your child to enjoy the continuous benefits of the very best education.
Maximising your wealth
By taking advantage of the right investments and savings, and planning your tax, Elevation can help you achieve significant cost savings and make your money work harder for you.
Minimising your tax
Our personalised planning strategies can significantly improve your personal tax situation, limiting what you may need to otherwise pay out if you were to use income or assets that would normally be taxed.
While tax relief is not directly available on school fees there are ways to reclaim and minimise tax. Elevation’s suite of tax solutions, both ready-made and bespoke, are here and ready to help you.
Protecting school fees
It is vital to take appropriate advice to ensure the continuity of your child’s education. There are products available that protect school fees payment in the event of redundancy, unemployment or accident and sickness. Our network of Independent Financial Advisers are highly experience and can offer you the advice you need to potentially cut the cost of education by 50% or more and ensure that your child completes their schooling regardless of a change in circumstances.
Elevation Wealth Management Ltd. Registered in England & Wales No. 04794182. Registered Address: Unit 1, Marlin Office Village, 1250 Chester Road, Birmingham, B35 7AZ. Authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No. 456358 at www.register.fca.org.uk. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain, and you are not satisfied with our response to your complaint you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR. Tel: 0800 023 4567 or 0300 123 9 123 or www.financial-ombudsman.org.uk.
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Some of the possible solutions are high in investment risk and will not be suitable for everyone. We would provide detailed recommendations to help you in this regard. Paying fees through a Limited Company have some complicated rules and may not be appropriate for all firms. Levels, bases of any reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor. The value of an investment can go down as well as up. Past performance is not a guide to future performance.