Flowing With The Tide

Posts Tagged ‘tax planning’

The impending government expenditure review has received a great deal of speculation over the last few days. Many sectors of the people in the Uk are concerned about their financial future and prospects of employment. We are all expecting tax increases combined with budget cuts.
Although this is a worrying time for many people there are ways to reduce the amount of tax you pay.
Effective Tax Planning can make a great difference to you and your family’s financial wellbeing. Taxation planning is one of the most outstanding aspects of any form of financial planning. Expert tax advice might possibly save you hundreds, if not 1000’s of £’s each year.
Tax planning and financial planning.
If you commence with the fundamentals, such as using your annual Individual Savings Account allowances, establishing payments into pension arrangements and ensuring if you have cgt on shares utilize your yearly CGT allowance and you will soon see the difference.
If you need help working out capital gains tax please contact us.
If you own your own business, we can also offer advice on tax strategies for small to medium sized businesses.
Whatever your position tax planning should always be an essential objective when re-examining your finances.

Although we all have to pay taxation, the amount of money and level of tax can be changed by applying the tax allowances on offer. This legitimate type of tax avoidance is not in use enough by individuals in the United Kingdom. If we made use of the tax planning opportunities available it would make a huge difference to our personal wealth.

There are some aspects of tax planning that is not controlled by the Financial Services Authority-FSA. If you would like more information please contact us.
This article should not be considered as advice.
Consilium Asset Management are based in Chipping Sodbury and provide tax advice and planning services to personal clients throughout the south west.

Equity markets are wobbly, the uk plc has overspent & many individuals are not sure of the future as far as work, money and finances are involved. It might all seem somewhat uncertain & indeed the United Kingdom has a lot of anguish to bear before we begin to get the books in order. Although the new coalition government will start to tackle the problems facing the economy we can all take a little time to go over our own individual finances.

I believe that where change comes about, opportunities are present. The emergency budget will close off many loopholes as far as financial planning is concerned, but others may open up to encourage entrepreneurship & long term saving. Personally if you can make the best investment return for the level of risk you are able to accept , blended with applying tax breaks and low cost investment products, then over the long-term you should see the benefits.

The old phrase “don’t let the tax tail wag the dog” has never been truer. Apparently a large number of individuals with buy to lets have put them on the market, hopefully to sell before the emergency budget in 3 weeks time. The reason is the potential change to capital gains tax. Great, but what if the government decide to backdate CGT to the Sixth of April. In reality these investors should have taken the possibility of CGT into account when planning their investment portfolios. Property is an ill-liquid asset it cannot be easily disposed of. Due to the increase in property values over the last 10 yrs some investors will face potential CGT bills when they least expect it.

A good financial adviser will be able to indicate the Disadvantages and Advantages concerning different types of investments. This should include the investment risks and potential tax implications.

Consilium Asset Management is an IFA in Bristol.