Cheers to being a ‘Million-Heir’

By | 08.2018|Inheritance Tax|

With estate planning, you can decide what happens to your money and possessions (even your pets) should something happen to you. But, Estate Planning is useful in other ways too - it can help you minimise any Inheritance Tax liability and ensure your wishes are carried out in the event of your death if you [...]

All change for the new tax year!

By | 06.2018|Tax Planning|

It's important to consider the tax implications of making financial decisions. The 2018/19 tax year is now upon us and a raft of new changes have come into force. The good news is that there is little change in the overall tax burden for basic-rate taxpayers. However, there are a number of areas that have [...]

Inheritance Tax & AIM

By | 05.2018|Inheritance Tax|

We are always seeking solutions for our clients and looking to provide products that will help them manage their assets more efficiently, with the aim of protecting and growing their wealth for the future. Preparing for Inheritance Tax (IHT) is an area that regularly impacts on our clients’ financial and legal planning. Across HWM, depending [...]

Protecting your business

By | 04.2018|Protection|

For many business owners it can be impossible to fully separate their business and personal affairs. Often your business is the main asset within your personal estate and the main source of income for you and your family. Business owners have particular demands and circumstances and their will and estate planning needs to take this [...]

Top Tips For Tax Planning!

By | 03.2018|Tax Planning|

As we near the 2017/2018 tax year end, we thought it would be helpful to provide some tax planning tips to use to help maximise the use of your various tax allowance and minimise the tax you pay. Of course, these aren't appropriate to everyone but could be invaluable to some. Income Tax planning • [...]

Inheritance Tax – What are the numbers?

By | 06.2017|Inheritance Tax|

As of April 2017, the new Inheritance tax (IHT) rules have come into force, but what do they mean? As it stands each person in the UK has a Nil Rate Band (NRB).  The NRB is the amount that you have within your estate before you pay any Inheritance tax.  For any type of asset [...]

Your options for using your pension pot

By | 05.2017|Pensions|

Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can now take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large tax Income Tax bill and run out of money in retirement. [...]

Why consider a trust?

By | 05.2017|Inheritance Tax, Uncategorised|

If you want to mitigate the effects of Inheritance Tax (IHT) on your estate, trusts can be an important part of the process. When you put cash, property or investments in a trust, provided certain conditions are satisfied, you don’t own it any more. This means it might not count towards your IHT bill when [...]

Residence Nil Rate Band: The Basic Rules

By | 04.2017|Inheritance Tax|

As ever, there’s nothing simple about the new Residence Nil Rate Band (RNRB) allowances and rules which is why we've laid out the basics below. Inheritance Tax and RNRB are complicated and are totally dependent on each individual so we would always recommend seeking the help of a professional if you want to get further [...]

Your options for passing on your wealth

By | 04.2017|Estate Planning|

You’ve worked hard all of your life to get to where you are, and providing for those you care about is important to you. However, just owning your own home and having sufficient capital to provide a reasonable income during your retirement may leave your estate with a sizeable IHT liability. If you want to [...]