When Did You Last Review Your Financial Situation
For many individuals 09 was a yr of hardship. A worldwide recession, stock Exchange upheaval plus a general feeling of uneasiness have left a great deal of people uncertain about the future.
Hopefully 2010 will be a different year. Yet there are steps we can implement to help our .
1 thing we can do to get the position into perspective is to re-examine our financial situation. Whether it is your mortgages, borrowing, savings, you income or purchasing patterns need to be surveyed regularly.
Taking out a review will assist you to identify where your finances can be amended and maybe where you need to make changes.
It is essential to re-examine your Savings & Investments, to check they are acceptable to the level of risk you are able to bear. It is also worth looking at your store cards, electricity & gas as well as house and car insurance to see if you could get a more acceptable deal. Even a little saving could make a big difference to your monthly budget.
Making the most of your annual taxation allowances such as individual savings accounts, CGT allowances and pension planning are also ways of reducing the level of taxation you might pay.
Whilst income and capital gains tax are significant, the impact of IHT (Inheritance Tax) should too be considered.
Many people have assets in excess of the value of the IHT Nil Rate band. Efficient tax advice can be used to cut the total amount of inheritance tax their beneficiaries might have to pay.
For numerous individuals, the functions supplied by Financial Advisers allow them to review and implement changes to their finances and savings.
If you believe that you would gain from independent financial advice please contact us on 01454 321511.
Consilium Asset Management
