SHEPPARD DAVIES ASSET MANAGEMENT

SHEPPARD DAVIES WEALTH MANAGEMENT

i.Inheritance Tax Planning

Despite the Government reducing the options available to reduce an Inheritance Tax (IHT) liability, a number of measures exist to ensure a greater proportion of wealth is passed to others, usually younger generations within the family.

IHT planning can be complex and may involve a number of complementary strategies such as lifetime gifts, gifting assets into appropriate trusts and specialist investment portfolios. Alternatively, it is possible to retain full access to assets and insure an IHT liability.

We offer a bespoke IHT planning service tailored to clients’ specific circumstances.

ii.Wills and the Rules of Intestacy

Writing a Will is typically inexpensive and allows the opportunity to pass wealth to intended beneficiaries. Individuals who are resident in England and Wales and die without having made a legally valid Will or if a Will partially fails are known as dying 'intestate' and the estate becomes subject to the Rules of Intestacy.

The Rules of Intestacy determine how an estate is to be distributed after the payment of all debts and liabilities, testamentary expenses and funeral costs.

iii.Pensions

Recent legislation has sought to simplify the rules governing pensions in the UK but some of the rules may still be considered as complex.

Greater longevity and an insufficient State Pension have resulted in an increase in responsibility for private provision in retirement. We are able to conduct a comprehensive analysis of personal and occupational pensions and provide comments on the existing investment strategy and guidance on the suitability of contracts.

We are welcoming more clients to the company who require specialist retirement planning advice in terms of investment management and guidance on the structure and tax efficiency of benefits in the form of tax free cash and / or income.

The new rules introduced by the Coalition Government, particularly in respect of the taxation of pension funds require understanding to allow prudent financial planning.