Tag: inheritance tax
A look at what IFP do for our clients…
This section of our quarterly newsletter will look at a specific case study and demonstrate how you can identify which of your clients we may be able to help, how we provide our services and the results of providing high quality independent professional financial advice. The Retiring Business Owner Case Study Mr Owner aged 57 and [...]
Read moreGuarding against Inheritance Tax biting into your estate
It is never too early to start planning where inheritance tax (IHT) is concerned. At the very least, you should keep a watching brief on the value of assets that could be part of your estate, particularly in relation to the inheritance tax nil-rate band. This has not changed since 2009 and whilst it is [...]
Read moreTen strategies for tax planning in 2012
In the theme of making New Year’s resolution’s for 2012 – an often overlooked part of putting your finances in order is making sure that your tax planning is effective. Are you claiming all the tax relief you’re entitled to? Are your investments arranged in the most tax efficient way? To give your financial planning a head [...]
Read moreTen New Year’s Resolutions for your Financial Planning
Around 50% of us make New Year’s Resolutions and ‘sort the finances out’ must be one of the most popular: but that’s a little vague – it’s more a wish than a firm commitment to take action. The main subject of many of our January appointments with both new and existing clients seem to have [...]
Read moreFuneral Plans – a practical and sensible thing to do
Ones own funeral would hardly rank among the most appealing topic of conversation for the vast majority of us. Fewer still discuss funeral arrangements with our families, purely because it is such a difficult thing to do for most people. Despite this reluctance, it is surely vital that we plan for the inevitable and so [...]
Read moreHow likely are you to live to 100?
New findings have revealed that 20-year-olds are three times more likely to live to be 100 than those of their grandparents age (80), and almost twice as likely as their parents generation (50-year-olds). Advancements in medicine, as well as improvements to collective lifestyle and diet over the last thirty years have seen a steady and [...]
Read moreTen ways to cut Inheritance Tax liability
As a starting point, every individual is entitled to a nil rate band, under which no inheritance tax is payable. For the current tax year, the nil rate band is £325,000. Any inheritable assets over that threshold figure can attract a tax of 40%, payable to HM Revenue & Customs. There are however a number [...]
Read moreHave you made a will?
According to a recent study by Standard Life, more than half of British adults don’t have a will, putting their heirs at risk of paying hefty legal bills to untangle estates. The research found that nearly two-thirds (60%) of 35-44-year-olds didn’t have a will, while two-fifths (38%) of 45 to 54 year-olds, a third (32%) [...]
Read morePension Death Benefit Changes – April 2011
Information from Her Majesty’s Revenue and Customs (HMRC) signals that there will be a number of significant changes in the pension death benefit rules from April 2011. The main changes after April 2011, concern three aspects: 1) what pension benefits can be passed on at death 2) what the tax charges may be 3) what the [...]
Read moreBudget Review 2011
On Wednesday, 23rd March 2011, the Chancellor presented his first budget since the autumn’s spending review, which outlined the Government’s cuts programme. From the outset we knew that this budget was aimed at reflecting the Government’s stated priorities of a strong stable economy, growth and fairness. It provided an opportunity for the Government to outline [...]
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