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Making sure your money is invested tax efficiently is a vital part of any financial plan as it can help to ensure that you are making the most of your allowances.
Most types of investment accounts come with their own rules and tax allowances attached, from a simple £20,000 annual ISA allowance to more complex rules if you’re a high net-worth individual.
Keeping track of these can be difficult but making sure you use them correctly can save you money every tax year. That’s why our recommendations consider the most tax efficient ways for you to save and invest your money.
What is inheritance tax planning?
Inheritance Tax (IHT) planning is a necessary part of your Tax Planning journey. By planning ahead, you can potentially save your family thousands of pounds in Inheritance Tax when you die and ensure that your wealth in preserved for future generations.
How can you reduce your Inheritance Tax bill?
Through careful planning
An up-to-date will
Seek professional advice
Lifetime gifts
Trusts
The various solutions have different timescales and risk profiles, so it’s important to seek advice to ensure a solution is appropriate for you.
If you would like to see if your estate may be liable to Inheritance Tax, use our Inheritance Tax calculator. If you would prefer to discuss your potential Inheritance Tax requirements with an expert, get in touch today.
We’re specialists in tax and inheritance advice
Keeping a close eye on all the tax allowances available to you can be tough, especially as your wealth builds over time and you begin to use up your ISA and Pension allowances.
Our qualified financial advisers can review all your accounts and create a bespoke plan that makes the most of your tax allowances and maximises the amount your beneficiaries can inherit.
As part of our service, we consider:
The most tax-efficient options available to you
Whether you require guaranteed income, for example, through an annuity
Ways to mitigate a potential Inheritance tax bill
Planning ahead to reduce tax on your beneficiaries
Income, Capital Gains, Corporation and any other relevant taxes to you
Whether you’re expecting or passing on an inheritance, planning is essential to avoid an unnecessary tax bill. No matter what stage of your investment journey you’re at, we’re here to help you reach your financial goals and recommend the most suitable options for you.
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Brought to you by True Potential Wealth Management.
True Potential Wealth Management offers restricted financial advice. Our service is specifically designed for clients wishing to access their financial affairs online.
With investing your capital is at risk. Investments can fluctuate in value and you could get back less than you invest.
Tax is subject to an individual’s personal circumstances, and tax rules can change at any time.
True Potential Wealth Management LLP is authorised and regulated by the Financial Conduct Authority, FRN 529810. www.fca.org.uk
Registered in England and Wales as a Limited Liability Partnership No. OC356611.
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