Taxation

Tax planning is an important consideration when organising your affairs in retirement.

We can help you to arrange your savings and investments to minimise the adverse effects of tax in retirement and to help you make best use of the available allowances. In addition we can provide data to assist in the completion of your self assessment tax return.

Income Tax (IT)
The first step is to review your income to understand your current tax position and how much income you require to meet your planned expenditure.

We can assess whether you are making best use of your personal allowances including the age allowance for over 65s.

Consideration can be given to potentially tax efficient investments such as ISAs, National Savings, equities and insurance bonds (onshore and offshore).  

Capital Gains Tax (CGT)
The annual capital gains tax exemption is a very useful tax planning opportunity which is often neglected.

The annual CGT exemption for 2009/10 is £10,100 and net gains after all reliefs, allowable losses and the annual exemption are currently taxed at 18%.

Clients who are able to realise capital gains can therefore produce a very tax efficient source of income in retirement.

Estate Planning and Inheritance Tax (IHT)
More and more estates are being devastated by large inheritance tax liabilities, so it is an important consideration when arranging your affairs in retirement. Please visit our Inheritance tax page for further information.

Self-assessment tax return
If you complete an annual self-assessment tax return we can help you by preparing data for you from your savings , pensions and investment portfolio.

We can also reduce the burden of paperwork by arranging to have your tax return completed by a professional tax adviser.

Please contact us to discuss how you could make your savings and investments more tax efficient in retirement or continue through our website to discover more about our services for retired clients.

Amber Wealth Creation Ltd is authorised and regulated by the Financial Services Authority. FSA Registration No: 401162.
Please note that the Financial Services Authority does not regulate taxation and trust advice, wills, bank deposits, national savings and some forms of buy to let mortgages and commercial mortgages.
Your home may be repossessed if you do not keep up repayments on your mortgage.