IFA or Accountant

Portia_2

Here's the thing. Leaving my currrent job with pension lump sum of approx £40,000 (tax free) and pension of £9000 pa. Starting new job on £33,000 pa. Here's the question. In order to find the best place for my money and generally keep me on the right side of the tax man :mad: who is more up to the job - an IFA or an Accountant? Any thoughts or experiences will receive a big fat thanks.

:A

purch

An I.F.A. I would think.

I doubt many Accountants are qualified to give Financial Advice regarding the lump sum.

Debt_Free_Chick

Agree that very few accountants are authorised to give financial advice. Some do have authorised IFAs, but very few. Instead, they have "contacts" with IFAs - so you go to the accountant for tax advice and he can introduce you to an IFA.

What you really need is an accountant & and IFA who will work together to get you the best option. But, to be honest, it's not going to be worth it for £40k.

Many IFAs are pretty clued up on the tax efficiency of different investments - it's only if you want tax efficiency outside of investments that you might need an accountant.