Posts Tagged simple fact
A Little Inheritance Tax Planning Can Help Make a Difference to Your Family’s Future
Copyright (c) 2010 Richard Barlow
The simple fact is that failure to plan for inheritance could result in the treasury benefiting from your life time of hard work instead of those you really care about. The thought of incurring a large tax liability when you die is even more disturbing because the money used to build your estate was probably taxed when first earned. Double taxation seems like an appropriate term.
In 2008-09 HMRC’s income from inheritance tax was 2.85bn but if the number of people undertaking effective inheritance tax planning had been greater this amount would be drastically reduced.
Tags: armoury, dependants, double taxation, inheritance tax planning, inheritance tax purposes, simple fact, tax legislation, tax liability, tax threshold, uk house pricesRelated posts
Why Personal Budgeting Works Best With A Budget Planner
The title of this article might seem obvious, but people often fail in keeping to a budget because they do not use a written plan. They do the things they have to do: look at their finances, add up their regular on-going costs; estimate their other costs and arrive at an amount they think they can set aside for savings. If they have used pen and paper to work this out, then they have a basis for a budget planner. But sometimes this is as far as they go. If they have not transposed those original figures into a written plan, their objectives will be harder to achieve.
A budget planner is simply a tool to help us stay on track. It tells us where our money is going and where it should be going. If we want to spend money in a certain direction our budget planner helps us to work out if and how it can be done. If we are getting behind or finding it hard to stick to our plan we can consult our planner to find out why. We should know where we are spending our money, even if it is in the wrong direction. Sometimes we will spend money we did not mean to spend but we need to know where we spent it.
Tags: budget planner, commitments, losses, misery, pen and paper, personal budgeting, profits, simple fact, taxation, wrong directionRelated posts