Best of Bespoke – our top wealth management posts for high earners and HNWIs

Tuesday, January 10, 2012 | Posted by: Fiona Cullinan
Categories: Business, Personal, Protecting your wealth | Tags: tax, links, tax planning, HNWIs, HNWI, wealth, Bespoke, blog, wealth management, best, 2011, wealth protection, wealth planning

Our most popular posts of the past year reflect the tax-related interests and wealth management concerns of high earners and high net worth individuals (HNWIs) in the UK. Here they are in reverse order. The tax landscape is ever-changing, though, so speak to your tax adviser to find out the latest news on the topics covered.

8. HMRC offers chance to avoid court and settle EBT enquiries
High-earning taxpayers who have avoided or deferred tax and national insurance contributions through the use of Employee Benefit Trust (EBT) arrangements are the latest targets of the taxman.

7. Income tax strategies for high earners and entrepreneurs
What opportunities are there for high net worth individuals to organise their affairs to reduce the income tax burden and soften the impact of tax rises?
* Read more recent posts and information around tax planning.

6. Avoiding inheritance tax with business property relief? Beware these nightmare scenarios…
The lesser-known pitfalls surrounding business property relief may leave your business at risk of a very large and unexpected inheritance tax bill. Let the horror stories of Mr Wealthy and Ms Success be a lesson to those who think they are exempt from death and taxes…

5. Clarity on UK tax residence?
The Government has released its consultation on the long awaited statutory definition of residence, which it is seeking to introduce from 6 April 2012.
* Read the latest updates on UK residence.

4. ‘How does HMRC know I have undisclosed income?’
Are taxpayers with undeclared income like needles in a haystack or are they sitting ducks for the taxman?

3. Rising school fees? Setting up a trust fund could be more than just educational
How can you help ensure that your grandchildren get a good education and a proper start in life? Family trusts offer a way to do this while also offering tax savings.

2. How an HMRC letter about £3,000 of income turned into a £275,000 tax bill
As tempting as it may be to stuff unopened HM Revenue & Customs (HMRC) envelopes down the sofa or behind the clock, this recent tax tribunal decision may change your mind.

1. Thinking of selling? Entrepreneurs’ relief could save you up to £900,000 tax
Entrepreneurs’ relief can offer significant tax savings when selling shares or the whole or part of a business. So how do you qualify? How do you avoid the pitfalls that could lead to disqualification? And what are clients asking us about tax planning and entrepreneurs’ relief?
• Read our Budget 2011 updates on entrepreneurs’ relief.

The posts above appeared throughout the year – please get in touch to discuss developments and current thinking on any of the topics covered.

We hope you enjoyed reading Bespoke in 2011 and that you’ll rejoin us throughout 2012 – here on Grant Thornton’s Thinking Blogs or subscribing via RSS.

* Return to the Bespoke blog homepage for the latest stories on wealth protection and more.

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