Time to Review Your Financial Situation
For people 09 was a yr we’d rather forget. A global depression, stock Exchange upheaval plus an overall opinion of unease have left lots of people unsure about next year.
Hopefully 2010 will be a more restorative year. However there are measures we can put into place to improve our .
1 thing we can do to get the position into perspective is to review our financial situation. Whether it is your home finance, borrowing, savings, income or spending patterns need to be re-examined on a regular basis.
Taking out a review will help you to identify where your finances can be improved and if you should make changes.
It is essential to re assess your investments and savings, to check they are suited to the amount of risk you are prepared to accept. It is also worth looking at your MasterCard and visa, electricity and gas as well as house and car insurance to see if you could get an improved deal. Even a small improvement could make a difference to your monthly budget.
Making the most of your annual taxation allowances such as individual savings accounts, capital gains tax allowances and retirement planning are also ways of cutting the level of taxation you could pay.
Whilst income and capital gains tax are significant, the impact of IHT (Inheritance Tax) should too be thought about.
Many hold assets over the value of the Inheritance Tax Nil Rate band. Competent tax advice can be used to cut the overall amount of IHT their estates might have to pay.
For lots of people, the functions provided by Financial Advisers allow them to review and put into place changes to their finances.
If you think that you would benefit from impartial financial advice please call us on 01454 321511.
Consilium Asset Management
