Knoware House

For numerous people 2009 was a year to forget. A world setback, stock market turbulence and a general feeling of unease have left a great deal of individuals unsure about next year.

Hopefully 10 will be a more restorative year. However there are steps we can put into place to improve our finances.

One thing we can do to put the position into perspective is to look over our financial situation. Whether it is your home lending, outstanding loans, investments, your income or purchasing patterns need to be re-examined regularly.
Taking out a review will assist you to discover where your finances can be amended and where you might make alterations.

It is important to re-examine your Savings & Investments, to ensure they are suited to the amount of risk you are prepared to accept. It is also worthwhile reviewing your MasterCard and visa, gas and electricity as well as household and car insurance to see if you could get a better deal. Even a small saving could make a big difference to your monthly budget.

Making the most of your yearly tax allowances such as Isa’s, CGT allowances and pension planning are also ways of cutting the level of taxation you might pay.
Whilst income and capital gains tax are important, the effect of inheritance tax should also be considered.

Many individuals and parents hold assets in excess of the value of the IHT Nil Rate band. Effective tax planning can be used to shrink the total amount of IHT their beneficiaries might have to pay.

For numerous individuals, the services supplied by Financial Advisers help them to re-examine and put into place amendments to their finances and savings.

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

Consilium Asset Management