TAX PLANNING

One of the biggest threats and challenges to the accumulation and retention of wealth is the UK tax system. Tax is levied on earnings, savings, pension income, capital gains and even death. Indeed many view the system of self funding for care as effectively a 100% tax on all assets above the state support threshold.

It therefore follows that we must all understand our tax position and take steps to mitigate our liability wherever possible.

The name in which assets are held, the structure under which they are owned, the terminology of our will and the type of investment we select will all have a direct and potentially disastrous effect on our tax position.

An incorrectly worded will between a couple who own a property can cost £110,000 in tax!

Generating 25% from an investment structured in the right way can be achieved without liability to income tax!

It is essential that any investments, new or old, are reviewed with tax planning in mind. In many cases there may be no need to change the investments themselves to improve the tax position but merely to change the structure or way in which they are held.

Effective tax planning is simply a matter of knowledge and information. Where tax is concerned, the Chancellor is only too keen to take advantage of those who are ignorant of the rules.

	For tax planning advice
	To Return to Previous Page