What can a Chartered Accountant do for your Personal Finances?

Many people struggle to cope with handling their personal finances on their own, but one of the best ways of finding help is to engage the services of a chartered accountant. Chartered accountants are qualified professionals who are skilled in assisting individuals with a broad range of personal financial issues from debt and inheritances to taxation and pension planning. We recommend Linghams Chartered Accountants based in Cardiff. They provide a comprehensive range of accountancy and consultancy services. In this article, we look at how a chartered accountant can help you to make the most out of your finances and assist you in maximising the amount of disposable income available to you.

If you are experiencing problems in meeting your monthly payments and are struggling to cope with your debts, a chartered accountant can offer you the advice that you need to resolve the situation. With the essential knowledge of all of the available options from consolidation and debt management plans to filing for bankruptcy, a chartered accountant can advise you about finding the right debt management solution for you and can help you to get the wheels in motion to turn your finances around.

If you have not yet drawn up a will, a qualified chartered accountant can help you to get your affairs in order. A professional adviser can advise about your tax liabilities and the creation of trust funds so that you can ensure your wishes are carried out.

Many people can benefit from professional help with their everyday finances, and from offering advice about investments and tax liabilities to helping clients to learn more about gifting and capital transfers, a chartered accountant can help you to make the most of your money.

If you are thinking of buying a home and want to know more about the financing and mortgage options open to you, a chartered accountant can shed some light on the matter. They can also provide you with the necessary documentation to support your application for a mortgage.

Whether you are about to get married or are going through a divorce, a chartered accountant can help to make sense of issues surrounding taxation, pension rights, maintenance payments and chargeable assets that come to the fore during these periods in your life.

It is never too soon to start thinking about your retirement and a chartered accountant can help you to find the best ways to save for your pension. From advising about insurance products and life assurance to explaining the rules about tax relief on pensions, a professional adviser can help you to get preparations underway.

Completing tax returns can be a headache and if you try to handle it yourself you run the risk of paying too much or, worse, too little tax. If you are self-employed, a chartered accountant can help you to legally minimise your tax liability, understand the legislation surrounding Capital Gains Tax or help you to reclaim any overpayments that you have made.