Gareth Flanagan | Independent Financial Advice Service, Pensions and Investment Portfolio Advisers

Inheritance Tax Planning – Shop around before writing a will

Friday, June 18th, 2010

Inheritance tax planning and writing a will can be subject to hidden costs, especially if you appoint an executor to your estate. Consumers are often not made aware of the bill they will receive, and should certainly ‘shop around’, says the Office of Fair Trading. Click headline for further details.

Tags: Enterprise Investment Schemes, Financial Planning, Gareth Flanagan, Inheritance and Tax Planning, Inheritance Tax Advice, Quantitative Easing, Recession, Remortgages, Repossessed Spanish Property, Wills, Writing a Will
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Inheritance Tax Planning – most UK adults have no Will

Thursday, April 29th, 2010

Over half of adults in the UK are neglecting the need to make a will to ensure efficient inheritance tax planning, according to a new survey published this week by Barnardo’s. The children’s charity has also revealed that almost three-quarters (74%) of cohabiting couples also have no will in place.

Tags: Fund Portfolio, future energy supply, Gareth Flanagan, Inheritance and Tax Planning, Inheritance Planning, Inheritance Tax, Inheritance Tax Advice, Recession, Remortgages, Repossessed Spanish Property, Writing a Will
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Happy New Tax Year! The Tax Savings Checklist for 2010/11

Monday, April 12th, 2010

The new tax year, which began on 6th April 2o1o, offers a golden opportunity for tax savings. Make use of your brand new tax allowances to fine-tune your financial planning, and minimise tax. With financial advice you can streamline your savings strategy by getting the best savings rate and fully utilising your ISA cash allowances. You can ensure you take advantage of your allowances for Capital Gains Tax, if you are selling an asset. You can plan to maximise tax reliefs from pensions contributions. You can gain 30% tax relief on investments in Venture Capital Trusts (VCTs). You can take the necessary steps to avoid 40% Inheritance Tax on wealth passing to your children and heirs. If you are an employer, you can plan for the upcoming government NEST scheme, which will require you to have, or set up, a pensions department that offers a pension to all employees.

Tags: Avoid Tax, Best Mortgage Deal, Capital Gains Tax, Cash ISA, Cash ISAs, Certified Financial Planner, Chartered Financial Planners, Cheap Life Insurance, Critical Illness Insurance, Debt Management, Efficient Tax Planning, Enterprise Investment Scheme, future energy supply, Gareth Flanagan, Individual Voluntary Arrangement, Inheritance and Tax Planning, Inheritance Tax, Inheritance Tax Advice, ISAs, Maximum Pension Contribution, NAEA, Online Mortgage Deals, Pension Savings, Pension Schemes, Pensions, Personal Tax, Private Pension, Professor David MacKay, Reclaim Capital Gains Tax, Remortgages, Repossessed Spanish Property, Savings, State Pension, Stocks & Shares ISA, VCT, Venture Capital Trusts
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The financial life cycle 4: The frugal fifties

Tuesday, June 9th, 2009

In your fifties, your children may be grown. Perhaps your youngest is about to depart to make her own way in the world. You find yourself, your spouse and your cat enjoying a cup of tea alone, in the sudden quiet of an empty house.

This is not a time for sadness. Donâ€™t think of it as losing a daughter – think of it as regaining a bathroom!

Tags: Fund Portfolio, future energy supply, Gareth Flanagan, Income Tax Allowances, Inheritance Planning, Inheritance Tax, Inheritance Tax Advice, Investments, Office of Fair Trading, Repossessed Spanish Property, Retirement Planning
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The financial life cycle 5: The settled sixties

Tuesday, June 9th, 2009

The largest hill on the horizon as you enter your sixties is, of course, your retirement. In your financial life cycle, the main task is to turn your pension savings into an income, as your working life comes to an end.

The most popular way of doing this is by purchasing a pension annuity with your pension savings. This pays out a guaranteed income for the rest of your life, and can be a fixed sum, or can be set to increase each year, in order to account for inflation.

Tags: Annuity Advice, BBC, future energy supply, Gareth Flanagan, Inheritance and Tax Planning, Inheritance Tax, Inheritance Tax Advice, Loan Insurance, Lufthansa, Office of Fair Trading, Pension Annuity, Pension Income, Remortgages, Repossessed Spanish Property, Retirement Planning
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