At 40%, the rate of Inheritance Tax (IHT) is one of the highest tax rates in the UK. It is also payable on ‘taxed money’, so most people are keen to avoid it if at all possible. Understanding [...]
Pensions can be a tax-efficient way of passing on your wealth because they are usually exempt from Inheritance Tax. Find out more about your options here. What is Inheritance Tax? Inheritance Tax (IHT) is a tax on your [...]
There are many ways to save money for your children from the very basic to the more complex of products. But which one is more suitable for investing for the long term? The consensus is that a junior [...]
Chancellor Jeremy Hunt announced several tax changes from the 2023/4 tax year, including reductions in capital gains and dividend allowances. It’s important to make the most of pensions and ISAs, as well as gifting allowances. With reductions in [...]
When it comes to planning your finances for the future, retirement is not the only consideration. It’s also important to consider what will happen to your estate after your death. Unfortunately, many people don’t put time aside plan [...]
Trusts can be an effective way to reduce your inheritance tax (IHT) liability. Placing an asset into a trust relinquishes ownership to the trustee/s. This means that the value of that asset will be removed from your estate [...]
Inheritance tax (IHT) will need to be paid by your family on anything of yours that is of value after you die. Inheritance Tax is a tax on the estate of someone who has died, on any assets [...]
Discussing family finances is often seen as a taboo subject. But such discussions are important to have in order to sort out any financial issues, to outline personal wishes and to effectively plan for estate management if a [...]
For many people, the challenges of the pandemic have changed their mindset on lifestyle and financial planning. As well as this, the uncertainty of this time has shifted many of the foundational concepts in estate and intergenerational planning. [...]
There can be some confusion about the service that a Wealth Manager can provide and how they can benefit their client’s financial goals. As a qualified IFA, a Wealth Manager can advise on any and all aspects of [...]
Putting your money or assets into a Trust can be a tax-efficient way of taking value out of your estate for Inheritance Tax purposes. Effectively, when you transfer anything into a Trust, it’s no longer regarded as yours [...]
When you die and leave money or possessions to your loved ones, Inheritance Tax (IHT) may be due on what you leave in your estate. But the tax owed will depend on everything from the overall amount you [...]
