School Fees Planning

School Fees Planning

The cost of putting a child through a 14-year private education in the UK currently stands at £286,000, research suggests. It indicates average day school fees are now £13,194 per year and boarding fees cost an average of £30,369. School fee plans are designed to help parents and guardians pay school fees. They often come with some measure of protection for your investment and can be tailored to your individual circumstances and needs. School fees plans are a way to save that is usually promoted as tax-efficient, and usually offers protection.

While they’re intended to provide for school and university fees, the money can be used for other things if you choose.

There are three main options.

  • Capital schemes: Investing a lump sum in a guaranteed fund usually guarantees that you’ll at least get back your original investment. However not all plans will have a guarantee. The earlier you invest (when your baby is born, or even before, is best), the more chance you have of making money on the investment
  • Income or regular savings schemes: You make regular monthly or annual payments to a savings scheme. Again, the earlier you start saving the more money your investment could earn
  • Combined schemes: You invest a lump sum at the start of the plan and top it up with regular or irregular payments over a short term

However please note:

  • Like all investments, with school fees plans there’s no absolute guarantee of how much you’ll get
  • The value of your investment can go down as well as up and you might get back less than you invested
  • It might not be enough to cover the fees when the time comes to pay them
  • Make sure you’re comfortable with the risks before you invest

We can offer you effective solutions based on our wealth of knowledge and experience.

SIMPLY PLANNING FOR YOUR FUTURE

At Sky Wealth Management, we firmly believe that having a financial plan empowers you to feel confident and secure about your financial future.
CONTACT US

What our clients say

Rob has acted as our financial advisor for several years now, and we are both very glad that this is the case. He has reviewed, advised and organised our investments, our wills, our insurance, and regular savings for our grandson.

We are extremely pleased with the results Rob has achieved in each of these areas and know that his knowledge and attention to detail has ended with us getting a great outcome!

I no longer spend my time and energy fretting about financial matters as I know Rob has it in hand. The bonus is that Rob has achieved this without any “hard sell”, “blinding with science” or “flavour of the month” tactics. He’s as straight as a die, solid as a rock, and has the skill of knowing the level, to pitch to his customers.

Mr & Mrs B, Reading

Rob has helped us manage our finances for more than 15 years now.

We have always found him to be friendly, personable and he always makes us feel relaxed.

In our meetings he has shown that he is at the forefront of changes in financial markets, tax initiatives, and potential savings which are not only beneficial but in keeping with our portfolio.

He has listened carefully to us and understands our preferences. He explains clearly the options open to us and we have utmost confidence in his advice.

Mr & Mrs E, Andover
Image

 

Sky Wealth Management is authorised and regulated by the Financial Conduct Authority FRN 978184.

Registered office: Glan Yr Afon Isaf, Brynberian, Nr Crymych, Pembrokeshire, Wales, SA41 3TG.

Registered in England & Wales as a Private Limited Company 11649598

MENU