News

Gift inter vivos policies – explained

The term “inter vivos” can be roughly translated as “between the living”. One way to reduce your potential Inheritance Tax (IHT) liability is to make gifts during your lifetime to another person, hence a transfer between the living. Everyone has a personal inheritance tax allowance, which is currently £325,000 or possibly higher depending on your... Read More »

ISAs vs pensions – which is the best investment product for you?

Individual Savings Account (ISAs) and pensions each have their unique set of rules, and for this reason, they are both very different in how they work. Is there a right or wrong way to fund your savings and investments, and is there an advantage to using one investment product over the other? In this article,... Read More »

Case study – Inheritance Tax Protection

One of our Private Wealth clients had made several gifts, and was about to make another significant one as the result of a property sale. Each gift created a potential inheritance tax liability with total potential liability in excess of £2 million. There is a liability to inheritance tax for seven years after a gift... Read More »

Market review – December 2021

I often say to clients during our review meetings that I still see the ongoing pandemic as being the main contributing factor to the performance of the investment markets at this moment in time. This was seen in November, when the new Covid-19 variant, Omicron, changed investors’ sentiment around the world. The discovery of the... Read More »

Mitigating large tax payments for beneficiary of father’s pension death benefits – case study

We helped our client, a beneficiary of their father’s pension fund, to receive these benefits in the most tax-efficient way possible, minimising the potential large amounts of income tax.   Sadly, our client passed away at the age of 79. We had previously advised them to complete a pension drawdown nomination form, and they had... Read More »

What the October 2021 Budget update means for you and your business

Robert Young, Hanover Financial Management, pensions and employee benefits specialist reflects on the latest budget update and dissects what these changes actually mean for individuals with businesses, pensions, savings and investments.   Pensions  Pensions tax relief There are two ways in which tax relief is granted on employee pension contributions, net pay and relief at source.... Read More »