Saving for the future and building a nest egg can provide Choice, Independence, Security and Peace of Mind. And whether you’re saving for a specific goal, such as for your children, a property or for your retirement, we have a range of accounts, services and solutions to help at all stages of life.
If you are looking for saving options, this page is a good place to start, alternatively you can read more about Growing Lifetime Savings here.
"Saving for the future and building a nest egg can provide choice, independence, security and peace of mind."
Tim Bennett, Head of Education
Saving for the future
One of the most basic financial principles is to ensure you have money set aside for future use. This should include a rainy-day fund for unexpected short-term emergencies at a minimum, as well as a savings pot for any larger expenses due over the next few years (such as a new car or planned property refurbishment, for example). Funds in excess of these two pots can then be saved for the long-term, which we typically think about as a time horizon of five years or more.
As a business with a heritage of stockbroking, our focus with savings solutions lies predominantly on longer term options and investments that aim to produce a greater return than cash savings and help combat the erosive impact of inflation. If you are new to investing, you can learn more here.
It is important to keep in mind the significant impact taxes can have on long-term investment returns, and we are therefore always mindful to encourage the use of tax-efficient vehicles to save and invest.
What is a tax wrapper?
A Tax Wrapper is a term used to cover savings products which offer beneficial tax treatment. Depending on the type of tax wrapper, this beneficial tax treatment could be applied on monies paid into the product, funds held in the product, money withdrawn from the product, or a combination thereof.
The two most common wrappers available to UK individuals are Individual Savings Accounts (ISAs) and Self Invested Personal Pensions (SIPPs).
ISAs
ISAs (Individual Savings Accounts) are one of the most straight forward ways to save tax-efficiently every year and allows savers to build substantial amounts of assets, sheltered from UK income and capital gains taxes. There is also a Junior ISA available to parents or guardians of children under the age of 18.
Our in-house offering includes Stocks & Shares ISAs, Lifetime ISAs, and Junior Stocks & Shares ISAs, and our Advisers would be delighted to discuss whether any of these are a suitable savings and investment vehicle for you and your family.
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Capital at Risk.
Please do remember that as with all investments, your capital is at risk. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
Pensions
Pensions come in various forms, and this section focuses on defined contribution (or money purchase) pensions. Examples of this are; workplace pensions or personal pensions like Self-Invested Personal Pensions (SIPPs) or Junior SIPPs for children.
These pension products are tax-efficient savings vehicles aimed to encourage people to build a retirement pot that can help them fund their lifestyle once they stop working. Contributions to pensions attract tax relief which increases the amount actually entering your pension pot. Funds within a pension tax wrapper are not subject to UK income and Capital Gains Tax. While pension funds are currently exempt from UK Inheritance Tax, this exemption will end in April 2027.
Our in-house offering includes Self-Invested Personal Pensions (SIPPs) and Junior SIPPs. As pension rules can be quite complex, we offer a range of planning advice in this area. Our advice regularly covers saving and investing for retirement, pension transfers and consolidation, and how best to access your pension savings.
You can also read more about key goals such as Accumulating for Retirement, Pension Planning, and Drawing an Income here.
Individual Tax Wrappers
Why choose us?
Whilst tax wrappers provide valuable tax benefits, as with all wrappers, it’s what is inside that makes them interesting. We provide savers and investors with access to a range of different investment services and solutions for the funds they hold within their wrappers, with Advisers on hand to help you reach your goals.
We have a series of complimentary financial "How to" Guides...
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Sign up to receive the latest news from Killik & Co, including our Market Update and Killik Explains educational videos, and be one of the first to hear about upcoming events and webinars. You can unsubscribe at any time and learn how we use your data in our Privacy Policy.