Story by: Joy Dunbar, Financial Adviser
Stellar's latest product to mitigate inheritance tax using business property relief will have to compete with more established players, according to an IFA.
Stellar Asset Management has launched an Aim Inheritance Preservation Service (Aim IPS).
IFAs have only two weeks left to make their feelings felt on new tax penalties from HM Revenue & Customs (HMRC) for giving Inheritance Tax (IHT) advice, according to the Tax Advice Network.
Clients are most concerned about wealth preservation over the course of 2010, with the introduction of the higher rate income tax and inheritance tax (IHT) planning coming a close second.
Close Asset Management has diversified its inheritance tax (IHT) mitigation offering, Close Trading Companies (CTC), with the inclusion of commercial farming.
A toolkit to help advisers ensure that trusts are high on the agenda for their clients to consider, has been launched by Friends Provident.
Key Retirement Solutions (KRS) is set to expand its estate planning division over the coming weeks by launching a standalone service for advisers.
Edge Investment Management is to launch an inheritance tax service based on factoring transfers between football clubs in the Premier League and Championship.
The announcement of a freezing of the nil-rate band at £325,000 for 2010/2011 for inheritance tax was not the main IHT headline for advisers from the pre-Budget report.
Chancellor Alistair Darling has announced several moves to introduce a "fairer tax" regime in the UK, with inheritance tax due to be frozen at £325,000.
With new tax rates beginning in April this year, investors, and particularly high earners, are keen to understand the tax saving schemes available to them - of which, it seems, there are not many.
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The key message is inheritance tax is an “utterly voluntary tax,” said Jonathan Gain, founder and chief executive of Stellar Asset Management, “because sensible investment planning around an estate should be capable of not paying it.”
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