Managing your wealth

  

Discounted gift trusts

I will be at our seminars presenting on discounted gift trusts, which I touched on at our annual investment seminars earlier this year. “What is a discounted gift trust?” I hear you ask?  Well, a discounted gift trust is an Investment Bond...

Don't get caught out by the unexpected

Farmers work tirelessly to run an efficient and profitable business and to provide an income for the family, but what happens if disaster strikes and you can no longer work.  Is there anything that can reduce the impact to that loss of income and halt...

Protecting wealth for future generations

It is said that failing to plan is, in fact, planning to fail.  That certainly seems to be the case when it comes to protecting your wealth for future generations.  Nicola Ward, Associate and Financial Planning Manager at Birkett Long IFA,...

Gifts...all year round!

There are ways to reduce inheritance tax liability on death.  Below, I highlight some of the gifts that can be used without your needing to survive seven years following a gift, together with an investment option that we will cover at our seminars in...

Child maintenance

Maintenance payments often form part of a divorce settlement and can therefore be legally binding.  Whilst this provides some security of payment for a fixed period of time, what is often overlooked is that the payments would cease on death of the...

Finances on divorce the legal position

When a couple enter into a marriage they are undertaking a duty to support one another, both emotionally and financially. What many spouses do not know is that, in the event of separation, whilst the emotional duty may come to an end, the duty to financially...

Trustee investments...take advice

The role of trustee is not to be undertaken lightly, especially as trustees are personally liable should a beneficiary claim some form of negligence. Trusts are often created as a result of an instruction in a will, especially when someone wants to leave...

Don't put off organising your financial affairs

The future can seem a long way off; however, the reality, of course, is that it’s not!  This is why planning ahead and making the right decisions today will give you peace of mind, knowing that your personal and financial affairs are organised in...

Protecting your family

As a parent, you want to provide the best for your children and plan for their future.  We all know that raising children is expensive.  In 2011 the average cost of raising a child was £133,848 and in 2013 this had increased by 15% to...

ISA changes - It's all change for ISA rules and investment limits

On 19 March 2014 in the Government’s 2014 Budget the Chancellor, George Osborne, surprised the Financial Services industry by announcing major changes to the Individual Savings Account (ISA) rules.  It was announced that ISAs would be reformed...

Growing and protecting your money - free seminar

If you are looking for good ideas about how to invest and grow your money, Birkett Long, legal and independent financial services firm, is staging a free seminar in Colchester and Stock. Paul Chilver, a financial planner with the firm, says people...

Growing and protecting your money

With the Bank of England base interest rate held at a record low level of 0.5% for over four years, bank and building society savings account interest rates remain unattractive. Investors with bank and building society Cash Individual Savings Accounts...

How much are mum and dad really worth

As a parent, you want to provide the best for your children and plan for their future.  As we all know raising a child/children is expensive, in the last two years the average cost of raising a child has increased by 15% from £133,848 in 2011 to...

Lower risk investment opportunitieis

With the Bank of England base interest rate being held at a record low level of 0.5% for over four years, bank and building society savings account interest rates remain unattractive. Investors with bank and building society Cash Individual Savings Accounts...

The financial jigsaw - putting the pieces together

During 2012, Britain slipped into the first double-dip recession since the 1970s – a time which saw a period of economic stagnation throughout much of the Western world – and at the time of writing, fears grow of a triple-dip recession with a...

Invest in your future with help from an expert panel

Seasoned and potential investors looking for investment opportunities and financial advice will benefit from the knowledge of a panel of experts at a free event run by Legal and Independent financial advisers Birkett Long in February. ‘The financial...

Have your cake and eat it

Gifts that mitigate tax As you may have seen on page 1, four brave members of Birkett Long entered the Trailwalker UK 2012 in aid of Oxfam and the Gurkha Welfare Trust.  This gruelling walk involved trekking 100km across the South Downs in less than...

Action for the start of new 2012/2013 tax year commencing 6 April 2012

Mike Cracknell from Birkett Long examines how you can make the most of tax efficient financial planning opportunities before the current tax year ends on 5 April 2012 and the new year commences 6 April 2012. 1. Make the most of Individual Savings Accounts...

EIS and VCT

One of the negatives for pension savers is the new annual £50,000 limit on contributions, and this is already causing high earners to look for alternative forms of tax-efficient investment, such as Enterprise Investment Schemes (‘EIS’),...

Junior ISAs - April update

The Treasury has announced that the successor scheme to Child Trust Funds (‘CTFs’), dubbed Junior ISAs, will be available in November 2011 and will have an annual contribution limit of £3,000. Also that the investment limit for existing...

Tax planning in general terms applicable to 2011

Employers should utilise salary sacrifice for their employees making pension contributions to an employer's pension scheme to contra rises in both the rate of Primary and Secondary Class 1 National Insurance.   Third party pension contributions -...

Action before tax year end 5 April 2011

For individuals with a "relevant income" of £130,000 or more (i.e. effected by the "anti-forestalling rules") for the 2010/2011 tax year, to make gross pension contributions to the value of £20,000 or £30,000, as...

Venture Capital Trusts

Interest in Venture Capital Trusts ('VCTs') has been subdued for the past couple of years. Investors have fretted about the global economy and managers have preferred to sit on cash, the return on which has usually been lower than their costs. ...

Junior ISAs

Following the demise of Child Trust Funds (‘CTFs’), the Government has announced that an alternative tax-free savings plan for children is to be introduced, which has been dubbed the Junior ISA. The new product will be available from the Autumn...

ISA limits increased

The Government has announced that the annual ISA investment limit will be increased from £10,200 to £10,680 with effect from 6 April 2011. For a couple, this means that £21,360 can be invested with no tax on dividends or interest, no...