Pensions, Later Life & Inheritance Tax
Financial planning & investment management
Our Approach
We typically address two fundamental issues for our clients:
1. Their ability to afford their desired standard of living for the rest of their lives.
2. Their desire to leave a financial legacy without paying more tax than is necessary.
Below are some examples of how we reduce our clients' taxes and help them plan for the future:
These are illustrative examples only and should not be considered financial advice unique to you personally. Please contact us or another regulated financial adviser if you would like to receive financial advice on these matters.
This is not an exhaustive list but hopefully gives you an idea of the type of work we do with our clients
The Cost
We charge an annual fee of 1% of the investments we manage on behalf of our clients - subject to an annual minimum of £2,400. This fee declines substantially for invested sums above £1 million. There are additional costs, including VAT and the cost of the underlying investment funds. Clients do not have to use our investment management services - they can simply pay £2,400 per year for our financial planning service if they wish.
The Next Step
We offer a free consultation to discuss our services and how they might be relevant for you. Please get in touch via the form below or call Scott Tindle, CFA - our Founder & Director of Wealth Management - directly on 0203 858 0637.
We typically address two fundamental issues for our clients:
1. Their ability to afford their desired standard of living for the rest of their lives.
2. Their desire to leave a financial legacy without paying more tax than is necessary.
Below are some examples of how we reduce our clients' taxes and help them plan for the future:
These are illustrative examples only and should not be considered financial advice unique to you personally. Please contact us or another regulated financial adviser if you would like to receive financial advice on these matters.
- Managing pension contributions and drawdowns. Pensions are typically free of inheritance tax and therefore they should often be protected rather than utilised - if the client has enough resources outside of their pension to afford their lifestyle. If it is desirable to withdraw money from one's pension, we advise on the timing of doing so in order to ensure that our clients mitigate the tax they pay.
- Creating trusts for inheritance planning. When structured appropriately, trusts can be extremely effective in shielding heirs from paying inheritance tax at 40%. It is often advisable to create trusts that give the donor the right to a certain amount of income each year while preserving the savings for future generations - and, crucially, legally shielding those savings from HMRC's inheritance tax.
- Overarching advice on passing on one's wealth. For example, you might not want to gift your offspring substantial sums of money just yet. Instead you might choose to top up their pensions each year to the maximum allowable amount – this could potentially avoid the 40% inheritance tax as well as limit your offspring's access to the money until they are at least aged 55. Another means of passing on wealth gradually is to fund your grandchildren's Junior ISA which, if managed appropriately, could fund the deposit on their first property. Trusts can also be utilised to maintain control over who benefits from your wealth.
- We routinely provide advice concerning investments that are not subject to inheritance tax, particularly Enterprise Investment Scheme funds. These are investments into private UK companies that can potentially provide relatively high returns as well as significant tax breaks. However, such investments entail a higher degree of risk and are not appropriate for everyone.
- More simply, we continue to be astounded as to the number of people who, despite being able to, do not utilise basic tax minimisation strategies such as ISAs. Ensuring one maximises both their own and their spouses allowances is usually advisable. Similarly, it is important to utilise annual capital gains allowances for both spouses, when possible.
This is not an exhaustive list but hopefully gives you an idea of the type of work we do with our clients
The Cost
We charge an annual fee of 1% of the investments we manage on behalf of our clients - subject to an annual minimum of £2,400. This fee declines substantially for invested sums above £1 million. There are additional costs, including VAT and the cost of the underlying investment funds. Clients do not have to use our investment management services - they can simply pay £2,400 per year for our financial planning service if they wish.
The Next Step
We offer a free consultation to discuss our services and how they might be relevant for you. Please get in touch via the form below or call Scott Tindle, CFA - our Founder & Director of Wealth Management - directly on 0203 858 0637.