Harold Stephens IFA
Harold Stephens IFA
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Labour's First Budget - Impact on Pensions and Inheritance Tax
The use of pensions in estate planning has been upended by the Budget announcement that from 2027/28, pension funds will be included in the value of the estate for inheritance tax (IHT) purposes.
What can you do to plan for these changes?
Review your estate plan, consider whether you might be better off taking tax-free cash now, think about how you could use the funds more tax efficiently if IHT is an issue for you. Richard shares some ideas here but if you want to know more, why not come along to one of our seminars which will cover all your options?
Wednesday 29th January or Wednesday 5th February 2025 - 1.30pm - 2.30 pm at Stoke Lodge, Shirehampton Road BS9 1BN. Get in touch to book your place and find out more about how the budget impacts your situation. Call 0117 3636 212 or email marketing@haroldstephens.co.uk.
Переглядів: 94

Відео

Later Life Financial Planning Under Labour
Переглядів 3421 день тому
What does Labour's first budget mean for later life financial planning? The headlines include big changes to how pensions are treated on death, inheritance tax plans have been capped and AIM market ISAs have seen their inheritance tax relief reduced by 50%. If you, like many others, have been relying on your pension to pass on wealth tax efficiently, you will be wanting to review your plans to ...
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Переглядів 1810 місяців тому
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КОМЕНТАРІ

  • @gillbalman7687
    @gillbalman7687 26 днів тому

    Am I able too (was meant)

    • @HaroldStephensIFA
      @HaroldStephensIFA 23 дні тому

      Hello Gill thanks for you message. In this video I’m explaining about how a Disabled Trust can be set up in the Will. I assume you are looking to transfer assets in lifetime to a Disabled Trust? To allow trustees to manage your money /assets on your behalf in lifetime? All possible!

  • @gillbalman7687
    @gillbalman7687 26 днів тому

    Am Sending able to set up a disabled person trust for myself? What would the cost be to set up the trust deed?

  • @richt1107
    @richt1107 Місяць тому

    This video needs updating since 2024 budget

    • @HaroldStephensIFA
      @HaroldStephensIFA Місяць тому

      Yes it does! We are working on new content to provide an update after the budget. Thank you

  • @deangoddard821
    @deangoddard821 2 місяці тому

    Great vid thanks. If someone thought they’d be in a will but then fell out with the person who ended up executor. Could the Executor hide the fact they were left money?

    • @HaroldStephensIFA
      @HaroldStephensIFA 2 місяці тому

      Hello no problem, glad it was helpful. The executor has a legal responsibility to carry out the wishes in the Will!

  • @michaelh3871
    @michaelh3871 2 місяці тому

    Hi, great video. If the NRB has been used with the gifts, how does Bill have any left for the estate?

  • @paulcroker8459
    @paulcroker8459 2 місяці тому

    great info but given Labour may abolish this in this months Budget....all your hard work could have been for nothing...just saying

    • @HaroldStephensIFA
      @HaroldStephensIFA 2 місяці тому

      Hi - yes it’s a valid point. Tax legislation can always change. Let’s see on the 30th!

  • @robmorrow9675
    @robmorrow9675 3 місяці тому

    Gov't needs all that money to piss away on nonsense projects.

  • @johneasystreet
    @johneasystreet 3 місяці тому

    What would happen if you wanted to leave everything to charity and give nothing to the taxman is that possible ?

    • @HaroldStephensIFA
      @HaroldStephensIFA 3 місяці тому

      Yes, absolutely. Gifting everything to registered charities in lifetime or via a Will would achieve this. Inheritance tax threshold for everyone is £325k (so no inheritance tax due if your estate amounts to this or less).

  • @robfoulds9930
    @robfoulds9930 3 місяці тому

    Ponderous to say the least

  • @motorcycleman6898
    @motorcycleman6898 5 місяців тому

    Why not post a link to the study?

    • @HaroldStephensIFA
      @HaroldStephensIFA 4 місяці тому

      Not enough charaters to post in the short so here you go: russellinvestments.com/-/media/files/emea/uk/ais/insights/value-of-an-adviser-study-emea.pdf

  • @Newmusicreview
    @Newmusicreview 6 місяців тому

    This would be good if you had the mic on....;-)

  • @oakwoodgroup294
    @oakwoodgroup294 9 місяців тому

    Great video, don't know why the view count is so low ? Keep up the good content.

  • @Wearywillie-x5t
    @Wearywillie-x5t 9 місяців тому

    The best thing is to spend it.

    • @HaroldStephensIFA
      @HaroldStephensIFA 9 місяців тому

      That is certainly one way to reduce your estate!

  • @marlojennings3409
    @marlojennings3409 9 місяців тому

    💘 *promo sm*

  • @paulmercer9262
    @paulmercer9262 11 місяців тому

    I have been told you have to gift your property ten years so they carnt take your assets of you

    • @HaroldStephensIFA
      @HaroldStephensIFA 11 місяців тому

      There is no specific time-line set in legislation - strictly speaking, the local authority have the power to go back indefinitely. The main thing is the original motive for the gift! If you're unsure, it's always best to seek professional advice.

  • @AndrewDuck-zb3vl
    @AndrewDuck-zb3vl Рік тому

    Interesting. Being on AIM is more risky together with how easy would it be to liquidate holdings together with the spread on these investments. Knowing the companies that quality for IHT tax free ISA is fraught with difficulties since the HMRC are very protective in providing what companies are eligible for this. I expect that this may well become a election issue as this only qualifies for UK stocks , an ideal method to push investment in UK stocks with the hidden benefits gaining from IHT tax free ISA planning.

  • @JackAgg-x8l
    @JackAgg-x8l Рік тому

    Keep them coming mate - great for R0 revision also!

  • @meganlaffey4123
    @meganlaffey4123 2 роки тому

    This was really helpful! Thank you! :)

  • @ivankeliimov6795
    @ivankeliimov6795 2 роки тому

    ua-cam.com/video/T2rMlc_0Cw4/v-deo.html