The new IFA tax planning hub is designed based on a research carried out by Standard Life that shows 64% of financial advisers believing tax planning advice to be important for their HNWI clients.
The research has shown that 65% financial advisers attribute the current financial climate as the reason for tax planning becoming important for their clients.
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This is followed by 54% believing changes in tax legislation and 42% believing changes made to pension contribution limits increasing the importance of tax planning important for their clients.
Julie Hutchison, head of international technical insight at Standard Life, commented "The complexity of tax and the speed with which legislation can change means it’s becoming more and more difficult for the consumer to understand the impact it can have on their savings and investments. And this is where financial advisers can add real value to their clients."
She further added that the tax planning site of Standard Life will be updated, with a focus on the budget and that this would ensure advisers to have a rich source of content to help them guide their clients through their tax planning.
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By GlobalData
