Tax Considerations

Income Tax, Capital Gains Tax, Inheritance Tax

How a particular investment vehicle will impact on your tax situation during its term and when to encash are important considerations. It is not possible to provide definite rules, as it will depend on the way in which the tax treatment will affect an individual both now and in the future. This is another reason to have the right advice!

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Estate Planning

The effects of inheritance tax on bequests can be substantial and it is by no means the case that only those with substantial wealth are affected. There are many ways in which you can minimise your potential liability through the use of Will planning, trusts, and various investments as well as utilising your annual exemption allowances.

The 2006 budget made major changes to Trusts and has affected many people who have already completed some Estate Planning and these changes are effective from 6th April 2008.

The changes are complex, and it would be very easy without taking proper advice to fall foul of the new rules, and end up with charges and tax bills that may otherwise have been avoided with proper advice.

If you have not already taking any advice, please do not rule yourself out, as many people now have an inheritance tax problem by virtue of their owning their own home (thousands of people own a property which is already valued at more than the inheritance tax threshold (which is £312,000 for the tax year 2008/09) or equally as important if you have completed some Estate Planning please contact us to review your planning and to guide you through the legislation, let us help you to avoid the charges where possible, and to ensure you don’t inadvertently cost yourself some additional tax!

Click here to request more information about Estate Planning.