Tax & IHT guidance - Intelligent Money Private Clients
Discussion
Whilst strong returns and keeping costs to a minimum are the key drivers to successful investing, there is another very important factor in play that can often be overlooked.
Tax efficiency for today and tomorrow cannot be ignored and robust advanced tax planning can make a big difference to your current and future financial position.
Whether it is ensuring you use all of your tax allowances every year to prevent a large future tax bill, or structuring your holdings to mitigate high inheritance tax (IHT) costs, there are many ways we can help you to understand the options open to you.
This is a free initial service to all PHers and a free ongoing service to all of our Private Clients.
Whilst, due to the very nature and individual variances of this subject, most people would wish to discuss this offline, however this thread is available for anyone wanting answers to generic questions on these matters.
If your post is not related to tax planning, we have four other threads:
Intelligent Money
Tax efficiency for today and tomorrow cannot be ignored and robust advanced tax planning can make a big difference to your current and future financial position.
Whether it is ensuring you use all of your tax allowances every year to prevent a large future tax bill, or structuring your holdings to mitigate high inheritance tax (IHT) costs, there are many ways we can help you to understand the options open to you.
This is a free initial service to all PHers and a free ongoing service to all of our Private Clients.
Whilst, due to the very nature and individual variances of this subject, most people would wish to discuss this offline, however this thread is available for anyone wanting answers to generic questions on these matters.
If your post is not related to tax planning, we have four other threads:
Intelligent Money
Hi IM/Nik,
Firstly, just wanted to thank Intelligent Money for offering such service. I would like to be one of the first to get stuck in.
I have used a separate account given information provided below is in the public domain, and obviously sensitive.
My wife and I want to begin considering IHT implications of the below situation. We are both 34, and would like to consider the basics of IHT planning and vehicles to allow ease of passing to our two kids (come the fateful day). We have our investment strategy and personal finances dialed. We therefor would like to consider the basics of IHT planning and vehicles to allow easy of passing to our Kids (come the fateful day). Our current long term holdings thus:
Equities in GIA - £450k
Equities in Pension - £10k
Equities in ISA's - £30k
I anticipate ISA and pension to total over £1m with GIA over £3m in the next 20 years (assuming many things of course). We will own our currently mortgaged home outright by this time. We will be mid 50's by this time, and will then begin to draw down.
I have seen that Trusts are beginning to phase out, instead being replaced by Family Investment Companies. Is this something that
would benefit me/us, as we can then make our 2 kids share holders? Perhaps you could use the above example to show an estimated tax position and how this can be mitigated?
Thanks in advance and over to you!
Firstly, just wanted to thank Intelligent Money for offering such service. I would like to be one of the first to get stuck in.
I have used a separate account given information provided below is in the public domain, and obviously sensitive.
My wife and I want to begin considering IHT implications of the below situation. We are both 34, and would like to consider the basics of IHT planning and vehicles to allow ease of passing to our two kids (come the fateful day). We have our investment strategy and personal finances dialed. We therefor would like to consider the basics of IHT planning and vehicles to allow easy of passing to our Kids (come the fateful day). Our current long term holdings thus:
Equities in GIA - £450k
Equities in Pension - £10k
Equities in ISA's - £30k
I anticipate ISA and pension to total over £1m with GIA over £3m in the next 20 years (assuming many things of course). We will own our currently mortgaged home outright by this time. We will be mid 50's by this time, and will then begin to draw down.
I have seen that Trusts are beginning to phase out, instead being replaced by Family Investment Companies. Is this something that
would benefit me/us, as we can then make our 2 kids share holders? Perhaps you could use the above example to show an estimated tax position and how this can be mitigated?
Thanks in advance and over to you!
abph said:
Hi IM/Nik,
Firstly, just wanted to thank Intelligent Money for offering such service. I would like to be one of the first to get stuck in.
I have used a separate account given information provided below is in the public domain, and obviously sensitive.
My wife and I want to begin considering IHT implications of the below situation. We are both 34, and would like to consider the basics of IHT planning and vehicles to allow ease of passing to our two kids (come the fateful day). We have our investment strategy and personal finances dialed. We therefor would like to consider the basics of IHT planning and vehicles to allow easy of passing to our Kids (come the fateful day). Our current long term holdings thus:
Equities in GIA - £450k
Equities in Pension - £10k
Equities in ISA's - £30k
I anticipate ISA and pension to total over £1m with GIA over £3m in the next 20 years (assuming many things of course). We will own our currently mortgaged home outright by this time. We will be mid 50's by this time, and will then begin to draw down.
I have seen that Trusts are beginning to phase out, instead being replaced by Family Investment Companies. Is this something that
would benefit me/us, as we can then make our 2 kids share holders? Perhaps you could use the above example to show an estimated tax position and how this can be mitigated?
Thanks in advance and over to you!
Nik is having a rather busy day right now but will get back to you shortly. This really is his area.Firstly, just wanted to thank Intelligent Money for offering such service. I would like to be one of the first to get stuck in.
I have used a separate account given information provided below is in the public domain, and obviously sensitive.
My wife and I want to begin considering IHT implications of the below situation. We are both 34, and would like to consider the basics of IHT planning and vehicles to allow ease of passing to our two kids (come the fateful day). We have our investment strategy and personal finances dialed. We therefor would like to consider the basics of IHT planning and vehicles to allow easy of passing to our Kids (come the fateful day). Our current long term holdings thus:
Equities in GIA - £450k
Equities in Pension - £10k
Equities in ISA's - £30k
I anticipate ISA and pension to total over £1m with GIA over £3m in the next 20 years (assuming many things of course). We will own our currently mortgaged home outright by this time. We will be mid 50's by this time, and will then begin to draw down.
I have seen that Trusts are beginning to phase out, instead being replaced by Family Investment Companies. Is this something that
would benefit me/us, as we can then make our 2 kids share holders? Perhaps you could use the above example to show an estimated tax position and how this can be mitigated?
Thanks in advance and over to you!
Cheers
Julian
chip* said:
Not a fan of sponsored site myself.
Apart from the laughable continuous "I am not selling" pitch where most are invariably offered options and ideas leading to the door of IM products...
Anyway, my main issue is the lack of clarity / warning to the (especially newbie investors) forum readers who don't fully understand the difference between receiving regulated advice V's guidance/ info basis. IMO, the (much reduced) legal protection for consumers following the "guidance" route should be clearly labelled in the new sticky threads i.e. you/the consumers are on your own if the "guidance" wasn't suitable for your needs.
/not an IFA, just a casual forum reader
That’s a bit unfair comment. Apart from the laughable continuous "I am not selling" pitch where most are invariably offered options and ideas leading to the door of IM products...
Anyway, my main issue is the lack of clarity / warning to the (especially newbie investors) forum readers who don't fully understand the difference between receiving regulated advice V's guidance/ info basis. IMO, the (much reduced) legal protection for consumers following the "guidance" route should be clearly labelled in the new sticky threads i.e. you/the consumers are on your own if the "guidance" wasn't suitable for your needs.
/not an IFA, just a casual forum reader
Edited by chip* on Wednesday 7th April 14:37
https://private-client.intelligentmoney.com/
What is the real life legal protection with an IFA, yes it is in place but unless it’s a real rouge or very badly invested funds the likelihood of any repercussions / legal claims are very very unlikely.
Edited by tighnamara on Wednesday 7th April 20:45
tighnamara said:
That’s a bit unfair comment.
https://private-client.intelligentmoney.com/
What is the real life legal protection with an IFA, yes it is in place but unless it’s a real rouge or very badly invested funds the likelihood of any repercussions / legal claims are very very unlikely.
That's simply not correct. Why are their liability insurance premiums so high? Because they get found liable. https://private-client.intelligentmoney.com/
What is the real life legal protection with an IFA, yes it is in place but unless it’s a real rouge or very badly invested funds the likelihood of any repercussions / legal claims are very very unlikely.
rockin said:
tighnamara said:
That’s a bit unfair comment.
https://private-client.intelligentmoney.com/
What is the real life legal protection with an IFA, yes it is in place but unless it’s a real rouge or very badly invested funds the likelihood of any repercussions / legal claims are very very unlikely.
That's simply not correct. Why are their liability insurance premiums so high? Because they get found liable. https://private-client.intelligentmoney.com/
What is the real life legal protection with an IFA, yes it is in place but unless it’s a real rouge or very badly invested funds the likelihood of any repercussions / legal claims are very very unlikely.
R.
zbc said:
Can you only supply advice on UK tax as I have a question about a UK property that I am looking to sell? I live in France and there will be CGT implications in both UK and France as i understand it and before I go too far down this path I just want to go through a few points.
Geberally speaking yes, just UK tax. However some of us have experience of living in other countries.The last time I looked France had a strange rule whereby investments held in the UK were also subject to French tax, but UK property was exempt from this.
This was a couple of years ago and obviously things may have changed now, but it is still worth having a chat with Nik (nik.burrows@intelligentmoney.com).
Cheers
Julian
Eric Mc said:
Is this not advertising?
Do catch up Eric mate, we have been doing this for 2 1/2 years now. 
Yes, of course there is a degree of advertising that comes from this, but we started out and continue to offer free information and guidance to fellow PHers on all things financial. I see that as being a service.
I have set aside a dedicated team of highly qualified and experienced professionals (including our in-house charted accountant), at IM's cost, to provide this free service to other PHers.
Cheers
Julian
JulianPH said:
@abph
Nik has not been abe to get in touch with you as your PM is turned off. If you would like to have a chat over things with him please send him an email at nik.burrows@intelligentmoney.com and he will be more than happy to go over everything with you.
Cheers
Julian
Hi Julian,Nik has not been abe to get in touch with you as your PM is turned off. If you would like to have a chat over things with him please send him an email at nik.burrows@intelligentmoney.com and he will be more than happy to go over everything with you.
Cheers
Julian
I’ve now allowed for messages to be sent. As a thought however, I’d welcome Nik to reply publicly. It may be of value to others...
Abph
Excellent news to hear the Finance forum readers has a dedicated Chartered Accountant available for free! Do they have an email address for any personal tax questions? Will he / she introduce herself to the Finance forum?
No rush, I am going out for a MTB ride so be back in 2/3 hours.
No rush, I am going out for a MTB ride so be back in 2/3 hours.
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