Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Q. I hope it’s a long way off yet but my parents, who are now in their seventies, have become increasingly worried about Inheritance Tax. They had successful careers, and live in a very large house worth a lot of money. It occurred to me that what with property values having taken a hit, how does the Revenue [...]
As we’re now approaching the end of the tax year we thought you might be interested in reading a copy of the latest guide that we’ve compiled. The ‘Year End Mini Tax Guide’ aims to provide you with tips and strategies to help you make the most of your money, and hopefully save tax at [...]
Q. I have heard of a Deed of Variation, can you please explain more? A. This is a mechanism that is mainly used by those who want to redirect an inheritance in order to achieve inheritance tax savings. Usually, inherited assets would accumulate within the taxable estate of the receiving beneficiary who may not want [...]
Entrepreneurs’ Relief was introduced following the abolition of the Capital Gains Tax taper relief scheme in April 2008. At the time, the government was intent on imposing an 18% flat rate on all capital gains, whether business or non-business assets. However, after a period of lobbying from business, the government backtracked (or actually listened?) on [...]
One of the most frustrating things we encounter whilst helping clients secure their futures, is governments changing the rules. It’s a bit like you when play a game of football, and at half time with a comfortable 2-0 lead, the referee explains that the goal size of your opponents will decrease, whilst yours will double. [...]
Q. I am a married 51 year old surgeon, and have several large pension funds which have built up over many years, with a combined value of around £400k. I dont intend to cash in my pensions until age 60 plus, and have recently turned my attention to the subject of Inheritance Tax. Our estate [...]
Large rises in income tax are due to take effect from next April for people earning over £100,000. New rates of tax were announced by the Government in the recent budget and they are going to hit many of our clients hard! This is because our clients tend to be higher earners, with many in [...]
Q. My brother and I am concerned about the Inheritance Tax situation regarding our mother. Her estate will be well in excess of £1.2 million, and although I am aware that she can now use our deceased fathers nil rate band allowance which helps, there will still be a tax bill of over £200k. She is now in [...]
Q. I am a 72 year old retired dentist, and have been widowed now for over 20 years. I was pleased to see the change in Inheritance Tax rules where I can now claim my deceased husbands nil rate band, as my estate is considerable. But I was concerned to hear about a case where the surviving spouse [...]
Many clients have accumulated substantial funds within ISAs and PEPs over the past 10 years and enjoyed significant tax breaks in the process. It’s not unusual to see clients with capital in PEPs and ISAs in excess of £200,000 enjoying the freedom to switch investments without incurring capital gains tax, personal liability to tax on [...]
