Client stories

Hear what our clients are saying about us...

  • Inheritance Tax Planning - David and Muriel

    Inheritance Tax Planning - David and Muriel

    David and Muriel had worked hard all their lives – they were now in their late sixties and retired, enjoying a comfortable lifestyle with several holidays a year. Benefitting from David’s final salary pension scheme, some private pensions and interest off their savings and dividends from their shares and ISAs, they had plenty of income. Taking into account everything they wanted to do in retirement, even after allowing for inflation and factoring in the potential costs of long term care in the future, David and Muriel were in the fortunate position that running out of money would never be an issue. In fact, their wealth would continue to increase and this could prove to actually be the problem.

    They’d heard a few alarming stories and the words ‘inheritance tax’ loomed on the horizon. Having paid tax all their working lives, they really didn’t want to pay yet more money to the Chancellor at the end of their lives, based on the value of their house. But should they downsize just for this reason?

    By doing some careful estate planning with David and Muriel, we helped them agree on a structured ‘spending and gifting’ plan that would help them to minimise their Inheritance Tax liability. This enabled them to maintain their desired lifestyle yet, at the same time, gradually pass wealth down to their children and grandchildren, without the Chancellor benefitting.

    Please note that the Financial Conduct Authority does not regulate Inheritance Tax Planning
  • Trying to get a mortgage - Tom and Rebecca

    Trying to get a mortgage - Tom and Rebecca

    Tom and Rebecca came to us when they were struggling to obtain a mortgage. Despite running a successful graphic design business, they were finding that the high street banks wouldn’t lend to them because they were viewed as self-employed or ‘freelancers’. In recent years, the selection criteria for mortgages have become much tougher and it was hard for them to provide a regular income profile which fit the ‘pattern.’ Added to which, as they were busy actually running their business, there were simply not enough hours in the day to be making endless mortgage applications.

    With our access to a much wider field of mortgage lenders, we were able to quickly find a bespoke mortgage for Tom and Rebecca. We were also able to provide advice and help present their accounts in the way a lender needed to see the information. Not only had we obtained a full mortgage for them, we’d also saved the couple a huge amount of time and hassle. Within just a couple of months, they were in their ‘dream home’ and able to get on with running their business.

    Your home maybe repossessed if you do not keep up repayment on your mortgage.

  • “Will my pension and investments be worth enough to let me retire when I want?” - Cathy

    “Will my pension and investments be worth enough to let me retire when I want?” - Cathy

    Cathy was in her early fifties and getting to the point of wondering when she would be able to work reduced hours or, eventually, retire completely. She’d worked for a number of employers throughout her career, contributed to various pensions and tried to save in various investment accounts. But when we talked to her, she had no idea what they were all worth. So although she had definite ideas of what she wanted to do in her retirement, i.e. step off the treadmill of work and travel the world, she didn’t know whether she’d been saving enough or when exactly she could retire.

    We did some investigation and produced a complete picture of what her various pensions and investments were worth. We also produced a complete financial plan in line with her attitude to risk so she knew how much she could spend and how much she should save to give her enough income in retirement. With this knowledge at her fingertips, Cathy could plan realistically and even start to get excited!

    A pension is a long-term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

  • Busy Business Owner - Mark

    Busy Business Owner - Mark

    Mark had built up a successful packaging company with two other directors and shareholders. He loved his job and was proud of what they had built up together. He worked long hours and the weeks and months just flashed by. Some worrying thoughts, however, had started to bother him. What would happen to the business if he or one of his business partners were to become seriously ill or even die? How would his family survive financially if he were no longer here?

    We did a thorough audit of the business and advised Mark to put life assurance and business protection in place. We explained that a ‘relevant life insurance‘ plan is available to salaried directors as well as employees and means that a death in service benefit would be paid as a lump sum to the individual’s family or financial dependants, in the event of death or terminal illness. What Mark hadn’t realised was that business insurance also counts as a legitimate tax deductible business expense. We also highlighted how important it was to put shareholder protection in place.

    This all enabled Mark to get back to the day to day running of his business, with renewed peace of mind.

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