Time to Review Your Finances
For lots of individuals 09 was a yr of pain and hardship. A world recession, stock Exchange upheaval plus an overall belief of unease have left a lot of people feeling uncertain about the future.
Hopefully Two Thousand and Ten will be a more acceptable year. Nonetheless there are measures we can take to improve our .
1 thing we can do to get the position into perspective is to re-examine our finances. Whether it is your mortgage, loans, investments, income or purchasing habits need to be re-examined on a regular basis.
Taking out a review will assist you to identify where your finances can be improved and where you need to make improvements.
It is fundamental to review your Savings, to verify they are suited to the amount of risk you are ready to bear. It is also worth reviewing your credit cards, gas & electricity as well as insurances to see if you could get an improved deal. Even a small saving could make a difference to your monthly budget.
Making the most of your yearly taxation allowances such as individual savings accounts, CGT allowances and pension planning are also ways of cutting the level of tax you might pay.
Whilst income and capital gains tax are significant, the result of IHT (Inheritance Tax) should too be considered.
Many hold assets in excess of the value of the Inheritance Tax Nil Rate band. Effective tax advice can be used to cut back the overall amount of inheritance tax their estates might have to pay.
For many individuals, the services provided by Financial Advisers help them to re-examine and put into place amendments to their finances.
If you believe that you would gain from independent financial advice please contact us on 01454 321511.
Consilium Asset Management
