A new study has revealed that many Britons are wasting substantial amounts of money to inheritance tax, because they are failing to plan properly.
Posts Tagged ‘Inheritance Tax’
Brits waste money on inheritance tax due to poor financial planning.
Tuesday, May 31st, 2011Avoid Inheritance Tax with good financial advice and financial planning
Monday, August 16th, 2010
Inheritance Tax can apply at 40% to portions of your wealth you intend for your children. IHT is one of the most lucrative taxes for the Revenue, as it applies at 40% to all liable assets. However, it is also one of the most avoidable of taxes, with good financial planning. Read how here – click on the headline above.
Plan for generous Inheritance Tax allowances cancelled
Friday, May 28th, 2010
Plans for a £1m Inheritance Tax threshold are cancelled, leaving Inheritance Tax allowances at previous levels. This leaves consumers exposed to a potential Inheritance Tax liability of 40% on portions of their wealth.
Principle First launches OnePlan™ and financial planning tools
Monday, May 17th, 2010
Principle First Chartered Financial Planners has today launched the OnePlan™ financial planning environment, featuring the OnePlan™ suite of financial planning tools. Our financial planning tools give you the calculations you need to plan your mortgage, insurances, even pension and retirement. The financial planning tools enable you to calculate how much your mortgage repayments on your chosen home would be, how much life insurance cover you need to replace your income and protect your family, or calculate how much you need to be saving today, to achieve a desired buying power and standard of living from your pension.
Pension changes could eat up to 82% of pension savings in tax
Thursday, May 13th, 2010Government pension changes free you from the obligatory purchase of a pensions annuity by age 75, and enable you to leave your remaining pension savings to your children. However, Inheritance Tax and other tax charges could devour up to 82% of your pension pot. Good pensions advice and pensions planning can minimise the impact of these and future pension changes.
How pension changes save the state money
Thursday, May 13th, 2010Government pension changes likely to be introduced based on pre-election pledges by the Conservatives and the Lib Dems are currently being presented as benefits that will increase pension income from both state and private pensions. Dig a little deeper, however, and we see that the pension changes are primarily designed to save the state money.
Inheritance Tax Planning – most UK adults have no Will
Thursday, April 29th, 2010Over 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.
Happy New Tax Year! The Tax Savings Checklist for 2010/11
Monday, April 12th, 2010The 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.
ISA savers benefit, CGT stable, IHT threat in Budget
Wednesday, March 24th, 2010
Good news for first time buyers, ISA savers, and business owners in the budget. Here is our roundup of personal finance news and the budget changes, hot out of that little brown briefcase on Downing Street.
Still counting on ‘Nanny State’ for a generous state pension? Think again…
Thursday, January 28th, 2010Latest facts released by the pensions industry are revealing some worrying trends with regard to our levels of pension saving … or not saving.
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