Death and taxes are life’s certainties, or so we’re told, and if you’re a regular reader of any publication about wealth, you will know that this adage of Benjamin Franklin’s is one that private client professionals like to quote - a lot! But tax, or the amount that will be owed on your death at least, can be given more certainty, and greatly reduced, if you plan for it.
For those in family businesses, planning for the future is not only important individually, but also for their family business. Whilst many people have there own will in place, those individuals must also consider these in the context of their business and whether they reconcile with the future plans of their business.
Q. The budget seemed ‘much ado about nothing, did I miss something?’
Q. We want to help our 20 year old daughter buy her first flat, but we’re worried about putting such a valuable asset directly in her name. Is there anything we can do to protect the property until she’s a bit older?
Q. Was there any good news for SMEs in the Budget? A. Whilst not transforming the landscape for SMEs, there was certainly some good news. The Chancellor looked to shift some of the tax burden onto large corporates, giving him some room to assist smaller businesses.