Tax Planning
We all have to pay our taxes, but many people are unaware of, and do not take maximum benefit from, the various tax allowances the Government makes available to individuals and businesses.
These allowances include:
- Personal Income Tax
- Savings
- Capital Gains Tax
- Pension Contributions
- ISAs
- Dividends
- VCTs
- EIS
Inheritance Planning
For most people, their primary aim is to protect their hard-earned cash and pass it on to their children or beneficiaries.
If planned correctly, there are wealth protection strategies that can minimise the tax liability on death.
Inheritance Tax was once viewed as a tax on the very wealthy, but with the huge rises in property values in particular, more and more of us now fall into the IHT bracket. It therefore makes sense to plan ahead and implement strategies to manage IHT liability.
These strategies include:
- Trusts
- Inheritance Tax mitigation
- Use of Gifts
- Annual Allowances
Venture Capital Trusts (VCT) & Enterprise Investment Schemes (EIS) invest in assets that are high risk and can be difficult to sell such as shares in unlisted companies. The value of the investment and the income from it can fall as well as rise and investors may not get back what they originally invested, even taking into account the tax benefits.
For ISA’S Investors do not pay any personal tax on income or gains, but ISAs may pay unrecoverable tax on income from stocks and shares received by the ISA managers.
Tax treatment varies according to individual circumstances and is subject to change.
Inheritance tax/Estate planning is not regulated by the Financial Conduct Authority.
For ISA’S Investors do not pay any personal tax on income or gains, but ISAs may pay unrecoverable tax on income from stocks and shares received by the ISA managers.
Tax treatment varies according to individual circumstances and is subject to change.
Inheritance tax/Estate planning is not regulated by the Financial Conduct Authority.