Gift Strategies & Tax Shelters

Tax Shelters

Invest in a tax shelter – capital gains tax can be deferred by investment in Enterprise Investment Scheme shares, and investment in these plus Venture Capital Trusts rank for income tax relief (subject to limits). The Film Finance Scheme also offers tax deferral, while ISAs are another option for tax-efficient savings.

 

Invest in your pension plan – obtain tax relief at your highest rate, subject to investment limits.

 

Gift Strategies

Make sensible gifts – never give away what you cannot afford, but if IHT is a concern, a sensible gift strategy can ensure that you help your family in your lifetime and reduce the IHT payable on your death.

 

Gift assets that have potential for growth in value.

 

Ensure that charitable gifts are covered by Gift Aid and record them so that we can include your claim for higher rate tax relief (if applicable) in your tax return.

 

Review your estate plan and Will – a review is due if there has been a birth or death; a marriage or divorce; a move abroad; a significant change in the value of your estate; a new business, or the disposal of a previous business; a retirement; or a relevant change in tax law. We can help you work through the changes to keep your estate plan up-to-date.

 

Include a nil-rate discretionary trust in your Will – or make a discretionary Will.