Successful initial years are then rapidly followed by growth. This is where income levels start to grow and one can look at building capital.

There may also be implications from growth, including an additional requirement for finance, capital and cash flow. For example the desire for a new car or home comes to the fore.

In business the same demands arise if they evolve quickly with rapid growth in sales, profits and size of organisation. As such it is imperative that appropriate agreements exist between shareholders / partners to avoid disputes which also secure valuable tax advantages on disposal. Anticipating financial risk associated with ‘catastrophe’ e.g. the critical illness or death of the owners and other key contributors is essential.

At this stage we look to formulate a policy for extracting profits from a growing income or business in the most tax efficient manner to start the process of some financial independence. Also to further strengthen any underpinning of the risks that now exist.

Take a look at some of our useful tools to see how we can support you and your family.

• Our ISA calculator to understand how rewarding investing tax efficiently for the long-term can be
• Our risk calculator to help you prepare for unforeseen circumstances
• Our retirement calculator to better understand the savings required to fund your retirement

To take full control of your financial future and manage your wealth, please contact Ian White or Richard Edney on 0844 05022 99 or email abacuswm@sjpp.co.uk.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.