IHT & Tax Planning Advice
There is a saying by Benjamin Franklin, that I am sure we all know or have heard of before and that is:
In this world nothing can be said to be certain, except death and taxes.
So as a financial adviser, I am mindful that what ever advice I give, is in full consideration of both of these facts. Death is something that I certainly cant stop, and I will gracefully leave that to the medical profession to support extended longevity, but when it comes to taxes, the limitation, mitigation, avoidance or management of tax payable is in all of our own personal interest. There will always be some taxes to pay, but careful planning and management of investment portfolios and savings plans can reduce tax costs legitimately and often with recommended solutions supported & approved by HMRC.
The kinds of taxes in mind can include:
- Inheritance Tax
- Income Tax
- Capital Gains Tax
- Corporation Tax
We all work hard to accumulate and build our assets and capital for or own enjoyment and to build a legacy for our loved ones or organisation we choose to support and having to sacrifice it unnecessarily to the tax man is not everyone’s preference, so to ensure your investments or assets are managed in the best possible way, be sure to get in touch to discuss all areas of planning that can ensure that you only need to pay the tax you need to in any part of your life, be it alive or on death.
For more information about Inheritance Tax and options, you can read a few articles here