Knoware House

For lots of individuals 2009 was a yr we’d rather forget. A global setback, stock Exchange upheaval plus an overall feeling of uneasiness have left a lot of individuals feeling quite unsettled about next year.

Hopefully the next year will be a better year. Still there are steps we can implement to help our financial situation.

One thing we can do to put the situation into perspective is to reexamine our finances. Whether it s your house finance, loans, , income or purchasing habits need to be reviewed regularly.
Taking out a review will help you to discover where your finances can be amended and where you should make changes.

It is fundamental to review your investments & savings, to check they are suitable to the amount of risk you are ready to accept. It is also worthwhile looking at your mastercard and visa, gas & electricity as well as house and car insurance to see if you could get a better deal. Even a small improvement could make a difference to your regular budget.

Making the most of your yearly taxation allowances such as isas, capital gains tax allowances and retirement planning are also ways of reducing the level of tax you could pay.
Whilst income and capital gains tax are important, the effect of IHT (Inheritance Tax) should too be considered.

Many have assets over the value of the IHT Nil Rate band. Competent tax advice can be used to shrink the amount of inheritance tax their beneficiaries might have to pay.

For many people, the functions provided by ifa’s allow them to reexamine and put into place changes to their finances.

If you believe that you would gain from independent financial advice please call us on 01454 321511.

Consilium Asset Management