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Copy of JEREMY PHELPS FPFS

Safeguarding wealth for future generations

New Inheritance Tax rules apply from 6 April 2017 Although often in the news, Inheritance Tax (IHT) is still not widely understood. That’s worrying, because it affects thousands of families every year. If you thought IHT was just for extremely wealthy people to worry about, think again. The amount of IHT collected has doubled over […]

2016/17 YEAR END TAX PLANNING

Taking advantage of planning opportunities means getting tax-savvy now It is important for you to arrange your taxes, investments and wider financial affairs to reduce current and future tax liabilities. Please keep in mind that everyone’s tax situation is different. Before implementing any of the strategies Mentioned here, you should obtain professional advice. Effective tax planning is about […]

family of four

Tax-efficient investments

Options to minimise how much tax you pay By understanding which investments are the most tax-efficient, you can make the most of your options to minimise how much tax you pay. As well as deciding what to invest in, you need to think about how you’re going to hold your investments. Choosing tax-efficient investments will […]

Taxing times

Reduction in the amount those with income of more than £150,000 can contribute tax-free to pensions each year A gradual reduction in the tax-free limit on pension contributions from the current £40,000 a year to £10,000 for high income individuals was announced by the Chancellor, George Osborne, in the July Summer Budget 2015. High income […]

Is cash really king?

Is cash really king?

Retirees exploit new pension freedoms Since 6 April this year, anyone aged 55 or over could – in theory – empty their money purchase pension funds entirely, although any withdrawals will be treated as income and taxed as such. Nine in ten people (90%) going in to drawdown have taken advantage of the new pension […]

Pension Freedom

The most radical reforms this century In Budget 2014, Chancellor George Osborne promised greater pension freedom from April next year. People will be able to access as much or as little of their defined contribution pension as they want and pass on their hard-earned pensions to their families tax-free. For some people, an annuity may […]

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New intestacy rules aim to make things simpler and clearer

Why the consequences could be far-reaching for you and your loved ones Significant changes to existing intestacy rules came into force on 1 October 2014 in England and Wales, with the aim of making things simpler and clearer. The consequences could be far-reaching for you and your loved ones, and while there are increasing entitlements […]