Bespoke - for private clients
Wednesday, October 31, 2012 | Posted by: Fiona Cullinan
Categories:
Protecting your wealth
| Tags: business,
tax,
inheritance tax,
Grant Thornton,
HNWI,
IHT,
Bespoke,
wealth management,
Bespoke magazine,
IHT planning,
selling a business,
legacy,
estate
After a life of work, many people may be surprised at how much wealth they can pass on or give away in tax. Martin Young, London Head of Financial Planning, suggests some strategies you may not have considered.
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Tuesday, October 23, 2012 | Posted by: Grant Thornton
Categories:
Protecting your wealth
| Tags: business,
tax,
inheritance tax,
Grant Thornton,
HNWI,
IHT,
Bespoke,
magazine,
wealth management,
Bespoke magazine,
IHT planning,
selling a business,
legacy,
estate
Investment wrappers can be a more tax-efficient way of holding investments than owning them personally. Craig Kemsley, Private Client Partner, rounds up five of the most popular wrappers available, from OEICs to offshore bonds.
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Thursday, September 13, 2012 | Posted by: Mike Hyland
Categories:
Personal,
Protecting your wealth
| Tags: tax,
capital gains tax,
inheritance tax,
CGT,
IHT,
Mike Hyland,
gifts,
sale,
capital gains,
IHT planning,
exemption,
wasting asset,
pre-eminent object,
gift with reservation,
Acceptance in Lieu,
douceur,
chattels,
leaseback,
heritage assets
While art, historic buildings and other ‘heritage’ assets are normally acquired more for their aesthetics and history than their tax efficiency, there are a number of tax advantages and reliefs that can apply. We look at a few examples of how owners of these assets can manage their tax position.
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Tuesday, August 14, 2012 | Posted by: Chris Tysoe
Categories:
Personal,
Protecting your wealth
| Tags: tax,
property,
inheritance tax,
IHT,
inheritance,
house,
Chris Tysoe,
rebate,
probate,
estate,
fall in value
Could you be entitled to a tax rebate on inherited property? Chris Tysoe, Tax Manager, highlights a small token of relief for those who have had to sell an inherited property for less than it was worth when they inherited it.
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Thursday, July 26, 2012 | Posted by: Mike Hyland
Categories:
Business,
Personal,
Protecting your wealth
| Tags: tax,
capital gains tax,
inheritance tax,
CGT,
IHT,
Mike Hyland,
shares,
sale,
BPR,
Entrepreneurs' Relief,
Business Property Relief,
Entrepreneurs’ Relief,
non-trading assets,
holdover relief,
company sale,
HMRC clearance,
trading company,
trading status,
investment assets
There are a number of reliefs that can help company owners mitigate capital gains tax (CGT) on selling or giving away their shares, and inheritance tax (IHT) on their death or on a gift into trust. A general requirement for all of these reliefs is that your company or corporate group must be ‘trading’. Here I’ll explore what this means and how the position might be optimised.
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Tuesday, June 19, 2012 | Posted by: Mike Hyland
Categories:
Personal,
Protecting your wealth
| Tags: tax,
capital gains tax,
inheritance tax,
CGT,
IHT,
EIS,
Mike Hyland,
enterprise investment schemes,
sale,
Entrepreneurs' Relief,
Business Property Relief,
selling,
selling a business,
share options,
Seed EIS,
non-trading assets,
company sale
After working for years to build up a successful business, you are likely to want to limit the extent to which the taxman collects the fruits of your labour when you come to sell your company. To optimise your financial position, here are some things to consider before, during and after the sale process.
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Tuesday, May 01, 2012 | Posted by: Mike Hyland
Categories:
Personal,
Protecting your wealth
| Tags: tax planning,
capital gains tax,
inheritance tax,
CGT,
IHT,
tax avoidance,
George Osborne,
Mike Hyland,
non-dom,
minimise,
non-domicile,
stamp duty land tax,
Budget 2012,
avoidance,
non-doms,
SDLT,
residential property,
non-natural person,
property development,
property investment
Buyers and owners of high-value residential property are the latest group to be chased for potential tax avoidance. Chancellor George Osborne believes they are avoiding taxes too readily and announced a raft of changes aimed at extracting tax in the recent Budget. Find out if you’re affected, and by how much, below
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Tuesday, March 06, 2012 | Posted by: Mike Hyland
Categories:
Business,
Personal,
Protecting your wealth
| Tags: business,
tax,
tax planning,
capital gains tax,
inheritance tax,
CGT,
income tax,
IHT,
tax relief,
trusts,
Mike Hyland,
money,
minimise,
main residence,
school fees,
incorporation,
settlor,
mortgage interest,
trustee
Welcome to a new occasional blog series for high net worth individuals (HNWIs) and high earners in which we answer your burning financial questions. This month, tax manager Mike Hyland is asked about incorporating a business, tax relief on school fees and other money-saving issues.
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Tuesday, December 20, 2011 | Posted by: Naomi Smith
Categories:
Protecting your wealth
| Tags: tax,
tax planning,
offshore,
inheritance tax,
IHT,
tax avoidance,
tax havens,
domicile,
non-dom,
Naomi Smith,
tax haven,
tax evasion,
IHT planning,
discretionary trusts,
tax saving,
offshore trusts,
offshore investment wrappers,
investment income
As HM Revenue & Customs (HMRC) steps up its mission to prevent British taxpayers illegally evading tax by holding their investments offshore and ‘forgetting’ to report them on their tax returns, we look at two legitimate opportunities to save tax through offshore set-ups: offshore investment wrappers and offshore trusts.
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Thursday, December 01, 2011 | Posted by: Mike Hyland
Categories:
Personal,
Protecting your wealth
| Tags: tax,
tax planning,
capital gains tax,
inheritance tax,
CGT,
income tax,
trusts,
Mike Hyland,
inheritance,
minimise,
Family Limited Partnerships,
estate planning,
succession,
family wealth,
family investment company,
investment company,
relevant property,
10-year charge,
FIC
Trusts are less tax-favoured than ever before since the trust taxation changes and the introduction of the 50% income tax rate. Could family investment companies provide a better alternative for wealthy families?
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