Wednesday 28 March 2012
Sunday 25 March 2012
Continuing the theme of avoiding tax, let's look in more detail at the UK's Inheritance Tax (IHT). As they say, death and taxes are unavoidable - but you might be able to dodge the tax on death!
On the face of it, the UK's IHT is a 'blunt instrument' - if your estate is valued at more than the personal IHT allowance (or 'Nil Rate Band' is currently £325,000 - and not increased for a couple of years), then wham! - 40% tax on the excess. Yet most of us would like to leave something to kids, relatives or even charity.
Fortunately there are some ways to fend off the Taxman.
Friday 23 March 2012
But how to optimise this strategy? Here's my take on it...
Sunday 18 March 2012
But if you are willing to take a risk, here's one...
But sometimes you need to make sure you are looking at the right kind of yield...
Friday 16 March 2012
Except that this money is now sitting idly as cash in the SIPP and we need to get it working hard generating more tax-free returns. So what to invest it in now?
Saturday 10 March 2012
Tax. We don't like paying it and we probably don't realise how much we pay overall. Some taxes are direct and obvious, others are indirect and may not be noticed immediately.
However, all tax systems have allowances and exemptions - created to make the tax system 'fair'. So there is nothing morally wrong with making the most of your entitlements, is there?
Here are 10 tips to help you reduce your overall tax bill.
Tuesday 6 March 2012
The DIY Income Investor approach involves building up your portfolio of savings and investments. This account may be relevant to those investors in the process of building up their portfolio or those who are looking to hold some cash on deposit, tax-free.
Friday 2 March 2012
Of course, you should be looking for the best value for all of your purchases - 'comparison shopping' and looking for discounts. Sometimes you just need to control the 'urge to splurge' and hold off the purchase decision. Once you overcome that urge to buy, you may well be innoculated against the spending disease.
So here is a useful mind-trick to help you make a decision about that next purchase.