There is a real opportunity for professional service firms to enhance the expertise they offer their clients with a full wealth management solution.

The Accountants & Tax Advisers we work with enjoy referring their clients to a tailored & personalised advisory approach, backed by the scale, security & infrastructure of St. James's Place, one of the UKs market leading Wealth Management companies.

How Lamyman & Co can add value for your clients

Our business draws on a deep knowledge of tax structures and wealth management. Our expertise includes complimentary services ranging across investment planning, pension planning, tax planning, estate planning, personal and business protection 

We value all clients and fully understand their need and requirements for a distinct and bespoke service to enhance advice provided by professional service firms, ensuring the best outcome for our clients and their businesses.

Case Study

A full review of individual circumstances, needs, requirements and risk profile are obtained prior to any advice being provided.

Simon (40) and James (60), are directors of an antique fireplace refurbishment company. They have been in business for 20 years. The business is valued at £15m, with annual net profits of £3.2m.

The company has cash reserves of £6m in the bank. Their accountant has historically advised them to extract profits from their business through dividends due to PAYE savings, but are now looking to help their clients review further options for profit withdrawal.

Simon and James were therefore seeking alternative ways in which to extract profits tax efficiently and were referred for advice in this area of financial planning.

After a number of meetings with the directors and a full financial review having been completed the following planning areas were agreed.

• Simon and James had only made minimal pension contributions in the last three tax years of £10,000 each. Using pension carry forward rules, in the current tax year they could make total pension contributions of £160,000 each through company contributions provided they were considered reasonable by HMRC, and thus save £60,800 ((2 x £160,000) x 19% = £60,800) in Corporation Tax. The company contribution enabled them to continue with their remuneration policy of paying dividends.
• Business succession is also a major concern for Simon and James, so their current life cover was reviewed to ensure policies were written in trust and valuations were up to date.
• Simon and James were advised to instruct their solicitor to draft a trust for the pension death benefits.
• A joint life second death whole of life policy for each of them was written in trust to cover some of the Inheritance Tax (IHT) liability on second death.
• Further tax-efficient investment planning was carried out to enable future utilisation of their CGT annual allowances and to provide a tax-deferred income stream.
• Their accountant was concerned about the return on the business cash deposits and the Business Relief implications of holding this level of cash might have on the trading status of the company. Therefore, potential solutions available to the business were discussed.

The advice provided was given after a full evaluation of their specific needs, circumstances and requirements. The solutions provided would not be suitable for most investors and the information provided does not constitute advice.

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 the amount invested.

An investment in equities does not provide the security of capital associated with a deposit account with a bank or building society.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are also dependent upon individual circumstances.