A word from the office - March Edition
Another Milestone & Tax Year End Countdown!
Our £10,000 fundraising challenge for the Pied Piper Appeal is in full swing, and we’re thrilled to share that Alex has now completed the Paris half marathon! That’s another big step towards our goal, and there’s plenty more to come - we’ll keep you updated on how you can get involved.
With April 5th just around the corner, now’s the time to make sure you’re making the most of your tax allowances before the deadline. In this newsletter, we’ve got more useful tips to help you stay on track.
Let’s make the most of March - both for our finances and our fundraising!
Monthly Headline
Inheritance Tax: Simple Ways to Plan Ahead
With the tax year ending, now’s a great time to check your financial plans. Inheritance Tax (IHT) can take a big chunk of your estate, but a little planning can help reduce it. Here are some key tips:
- Know the basics – Subject to other allowance being available, anything over £325,000 is taxed at 40%.
- Use exemptions – Passing assets to your spouse is tax-free, and there’s extra allowance for your home.
- Plan ahead – Gifts, trusts, and tax smart strategies can help lower your bill.
- Life insurance – A policy in trust can cover IHT costs for your loved ones.
- Pension planning – Some pensions can be passed on tax-free.
- Get advice – A financial planner can help make sure your estate is protected. A little planning now can make a big difference later!
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
Trusts are not regulated by the Financial Conduct Authority.
Further Insights
If you’re interested to read further, we also have more useful information on our website which can be found here.
Upcoming Events
Why not have a look at these past Webinars for some information on ‘Smart Tax Planning’ and ‘Are you on track for retirement?’
Charity News
Let’s do this!! It’s official, we’re going to try and raise £10,000 for the @piedpiperappeal by doing some crazy challenges around the magic number 10,000. We need your support, whether it’s a 10k run, a skydive or something even crazier, we won’t achieve it without your generosity so please keep your eyes on social media as together we can make a difference.
Contact your Adviser
To book a no-obligation meeting with your adviser, whether it be Alex, Amelia, Liam, Piers or Steve - please click here.
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Although the content of the article was correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.
