Published on: 23rd December 2019
It’s been an incredible month, with the results from the election pushing Boris Johnson into a clear majority (Brian touches on the potential impact of this in his article). Meanwhile, Brian delivered a ‘lively and interactive’ keynote speech to 350 financial planners at the Humans Under Management conference held at the Royal College of Physicians in London, designed to drive better client outcomes.
Although Brian is already Long Term Care qualified, he also managed to sit and pass a more technically advanced qualification (Long Term Care and Later Life Planning) because the legislation has changed significantly in the last few years and we are working with more clients who want to know about this. In January he commences the final run into his Chartered qualification, hopefully completing in June with results in July (no pressure then).
Here’s a sample of the queries we’ve had from our clients this month:
- Q: Can I use my pension to buy some land that a business leases? (A: potentially)
- Q: Should I gift my house to my children so I won’t have to pay care home fees? (A: probably not!)
- Q: What’s the best way to get the cash out of my business without paying too much tax? (A: multiple answers to this!)
- Q: If I give money to my children, how many years before it’s free from Inheritance Tax? (A: possibly 0 through to 14 years)
- Q: Are the dividends received from Venture Capital Trusts tax free or taxable? (A: usually tax free)
A merry Christmas and a prosperous New Year,