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Secure a Brighter Future
"We also showed Mr Jones how his money could potentially recover from the hit. We also gave him some urgently needed security through the reassurance of receiving well-informed, highly qualified advice."
Mr Jones's story
Mr Jones found us online back in 2015. He spoke to one of our Chartered Financial Planners and subsequently booked a meeting.
Due to unforeseen circumstances, the meeting didn’t go ahead and, although we tried to rebook the meeting, Mr Jones couldn’t fit it into his diary and, sadly, we lost contact.
In 2019, Mr Jones got back in touch with PenLife, spoke to us once again and arranged another meeting. We were very pleased that he decided to invest some time into his financial planning and felt very positive about being able to help him further.
However, the meeting did not quite go as we expected. Unfortunately, in the four years we lost contact with Mr Jones, he decided to take advice from a different source, and, to cut a long story short, this ill-informed advice cost him well over £250,000 in the form of a large and avoidable tax bill.
Understandably, Mr Jones found it difficult to discuss this and explained how he regretted not making the time for the meeting all those years ago.
However, it’s not all doom and gloom. Although it was too late to fix what had already happened, we quickly identified that there were other areas in which we could still help by applying a clear tax strategy, helping Mr Jones avoid any more losses.
Within only a few weeks, his plans were set up and we instantly saved him roughly £165,000 in tax through clever pension and Inheritance Tax Planning.
Not only did we address the remaining tax issues, but we also showed Mr Jones how his money could potentially recover from the hit. We also gave him some urgently needed security through the reassurance of receiving well-informed, highly qualified advice.
Even though we’re not able to change the past, we can almost certainly help people get back on track and heading in a more positive direction.
If you would like to have a chat with one of PenLife’s Financial Planners, please call us on 01904 661140. The call is held at our expense and there is absolutely no obligation to take things further. Alternatively, email enquiries@pen-life.co.uk or head to www.pen-life.co.uk/contact.
Please note: The contents of this case study are for informational purposes only and do not constitute individual advice. The information contained within this is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The Financial Conduct Authority does not regulate tax planning. The value of your investments can fall as well as rise and is not guaranteed.
The information in this case study was correct at the time of writing.