A key solution for significantly reducing a potential future Inheritance Tax bill
If you have business owner status, or have shares of a business, this will be reflected in the value of your estate. Business Property Relief is a valuable Inheritance Tax relief for business owners, whether making a lifetime transfer or on death. Business relief is either 50% or 100% on an estate’s business assets. The exact relief amount will depend on the nature of the assets.
Factors likely to have a lasting and positive impact on wealth
Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs. With careful planning and professional financial advice, it is possible to take preventative action to either reduce or mitigate a person’s beneficiaries’ Inheritance Tax bill – or avoid it altogether. These are some of the main areas to consider.
Savers still recognise the importance of long-term planning
Britain’s cost-of-living crunch has hit the country hard, with inflation at its highest level in three decades, petrol prices spiralling, retail price increases rising to their highest levels in ten years and, most recently, Ofgem announcing a 54% price hike in energy bills affecting 22 million households.
A full and happy retirement is a priority for many. But no two people are alike. A ’one-size-fits-all’ system cannot accurately account for everyone’s individual lifestyle choices, so it makes sense that the way you prepare for your future is likely to be different from others.
Bolstering your retirement lifestyle as you approach retirement
Have you ever wondered what you need to consider as you approach retirement? Whatever your concept of what is a good pension pot, one certainty is that relying on the State Pension alone will not give you a good enough pension to live on comfortably through your retirement.
