Planning Ahead to Preserve What Matters Most
Traditionally it is considered that this may only be a problem effecting the richest in society but in reality it is a growing problem for middle class families, this may store up real problems for loved ones if you don’t address any inheritance tax issues.
Careful planning takes time but the good news is that speaking with an expert can pay dividends and keep your hard earned assets away from the state.
How we can help you?
Trust can be the most effective part of potentially mitigating any inheritance tax liability but these often take seven years to have any impact. There are many different types of trust available and these can ensure that parts of your wealth can pass to children or other beneficiaries.
Trusts can often give flexibility and control in managing what happens to your assets after your death alongside saving up to 40% in inheritance tax charges.
Things you need to be aware of….
- Every individual as a nil rate band which is currently £325,000 if you are single or divorced or £650,000 if your married or have been previously widowed (2017/18 tax year).
- If your total estate value is above your nil rate band inheritance tax will be applied to everything you own above it at a rate of 40%.
- As well as your nil rate band you have a residence nil rate band which was gradually introduced in April 2017, and will reach £175,000 per individual by the 2020/21 tax year.
- There are many ways you can make plans towards addressing your inheritance tax liability.
- The Financial Conduct Authority does not regulate some aspects of Trust, Tax and Estate Planning.
Customer Reviews
Jonathan, retired manufacturer
“We have known Andy for upwards of 30 years, and throughout that time we have enjoyed his friendly, helpful advice on all things financial. We rely heavily on his guidance, and we would have no hesitation in recommending him and Spa Wealth.”
David, retired engineer
“I have been advised by Andy for years and have always received clear advice throughout, adapting to my circumstances promptly as they changed over the years. I have no hesitation in recommending discussing your financial needs with Spa Wealth Management.”
Derek, company director
“We’ve been thoroughly impressed with the advice and support provided by Spa Wealth. Their guidance has been clear, professional, and thoughtfully tailored to our individual circumstances, giving us real confidence in our financial planning. We wouldn’t hesitate to recommend their services to others seeking reliable and personalised financial advice.”
Anne, retired teacher
“I could not be happier with the service I receive from Spa Wealth. I have known Andy for many years and have every confidence in him. He is always very professional, provides clear information and options and has delivered very good outcomes. I have no reservations in recommending this service.”
Christian, managing director
“I first contacted Spa Wealth based on recommendations from others. From first contact I was impressed by their professional manner, real world advice and genuine can-do attitude. Andy’s experience shows in the advice he offers. I would be more than happy to recommend them to anyone, and I have.”
Glynn & Kate, retired local government and NHS
“We have known the adviser from Spa Wealth for many years and know that he, and Spa Wealth, provide us with financial advice and support that we both trust and know that we can rely on. We would have no hesitation in recommending Spa Wealth to others.”
Glynn & Kate, retired local government and NHS
“The pension advice and guidance I received from Spa Wealth has enabled me to retire before I thought I would be able to do so! As someone who struggled to understand the world of pensions, the advice I have received has always been clear, concise and prompt, therefore I would be more than happy to recommend Andy and the team.”
Dr B, NHS consultant
“Andy has been my financial adviser for a number of years. I have every confidence in his advice and would highly recommend the services of Spa Wealth.”
Jonathan, construction professional
“Andy has supported our family for a long time and adapted his advice patiently & professionally as our family needs have evolved. He continues to support us in our financial planning and has kindly introduced our eldest daughter to the world of investments and pensions.”