For numerous people was a year to forget. A global setback, stock Exchange turbulence and an overall belief of uneasiness have left a lot of people feeling doubtful about the future.

Hopefully the next year will be a more acceptable year. Nonetheless there are steps we can take to improve our financial situation.

One thing we can do to put the situation into perspective is to review our financial status. Whether it s your mortgage, borrowing, investment funds, you income or spending patterns need to be reexamined on a regular basis.
Carrying out a review will assist you to identify where your finances can be improved and if you might make alterations.

It is essential to reexamine your Savings & Investments, to ascertain they are suited to the level of risk you are inclined to accept. It is also worth looking at your mastercard and visa, gas & electricity as well as household insurance to see if you could get a more acceptable deal. Even a little improvement could make a big difference to your regular budget.

Making the most of your annual taxation allowances such as isas, CGT allowances and pension planning are also ways of reducing the level of tax you might pay.
Whilst income and capital gains tax are important, the impact of inheritance Tax (IHT) should too be considered.

Many , own assets in excess of the value of the IHT Nil Rate band. Competent tax planning can be used to cut back the overall amount of IHT their beneficiaries might have to pay.

For numerous individuals, the functions offered by ifa’s assist them to review and put into place changes to their finances.

If you believe that you would benefit from independent and impartial financial advice please call us on 01454 321511.

Consilium Asset Management