We can help you identify the source of a wealth leak. Contact us to implement a robust protection strategy

Providing all is going to plan, it can be immensely satisfying building up assets and increasing your personal wealth but, as you know, life can throw you a problem when you're least expecting it. That's why we believe that the implementation of a robust wealth protection strategy is as important as a wealth creation strategy.


Safeguarding your family’s future

Bad news can impact on any one of us at any time, so it’s important to have the correct wealth protection strategy in place that will enable you to safeguard your family’s future. There are many things to consider when looking to protect your family and your home. Without the right professional advice and careful financial planning, HM Revenue & Customs could become the single largest beneficiary of your estate following your death.

Preventing unnecessary tax payments

The easiest way to prevent unnecessary tax payments such as Inheritance Tax (IHT) is to organise your tax affairs by obtaining professional advice and having a valid Will in place to ensure that your legacy does not involve leaving a large IHT bill for your loved ones.

Effective IHT planning

Implementing an effective IHT plan could save your beneficiaries thousands of pounds, maybe even hundreds of thousands, depending on the size of your estate. At its simplest, IHT is the tax payable on your estate when you die if the value of your estate exceeds a certain amount. It’s also sometimes payable on assets you may have given away during your lifetime, including property, possessions, money and investments. At present, the first £325,000 (2013/14) of an individual’s estate is not liable to Inheritance Tax (IHT). For married couples and registered civil partners it is currently £650,000, if the full allowance is passed to the surviving spouse. Anything in excess of this amount is taxed at 40 per cent on death.

Mitigating Inheritance Tax

We can help you to mitigate Inheritance Tax. Here are just a few areas to discuss with us:

Consider transferring assets through the use of lifetime gifts

Have your Will written and planned correctly to save the maximum amount of tax

Consider creating a tax-efficient fund to enable the beneficiaries of your estate to meet the tax liability without disturbing your family wealth. Under current IHT legislation, pensions can play a considerable role in estate planning

Although pension death benefits are broadly exempt from IHT, if they are passed to your survivor they will form part of their estate.

Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested.