End of year tax planning opportunities – do not miss out on your allowances!
There are various allowances that, as estate planners, we are all aware of. Some may seem menial, such as the £3,000 gifting allowance, but it can save your clients £1,200 of Inheritance Tax. There are some planning points around this, such as how we can make sure our clients are aware of this and how can we ensure that this gifting can be “automated” for clients using trusts.
ISA allowances are now available too, and with the fairly recent advent of “IHT-free” ISAs, this again is something that, as estate planners, we should be making our clients aware of.
The Capital Gains Tax allowance is another that most people do not use year on year, but there are circumstances where they should. We see clients who have been advised to use a suitable trust to allow capital gains to be deferred (and therefore deferring any tax due) but without giving any thought to their CGT allowance! It is possible to achieve both CGT deferral and the use of the annual CGT allowance.
Our next Superhero Webinar in March will explore the above and more, so please join us to learn more estate planning tips and tricks!
Join us on Zoom on Friday 11th and Monday 14th March
10:00am – 11:00am
Friday 11th https://countrywidegroup-co-uk.zoom.us/webinar/register/2516433815634/WN_thwdV9npTQO3sSBJqH4v7g
Monday 14th https://countrywidegroup-co-uk.zoom.us/webinar/register/5116433836449/WN_3mt5UdweSsSbuAZRnhaUcw
