For lots of individuals 2009 was a year we’d rather forget. An international setback, stock market upheaval and a general opinion of uneasiness have left a great deal of people feeling quite unsettled about the future.

Hopefully Two Thousand and Ten will be a more satisfactory year. Still there are measures we can implement to improve our financial situation.

A small thing we can do to get the position into perspective is to review our financial situation. Whether it is your house finance, outstanding loans, investments, income or spending habits need to be surveyed on a regular basis.
Taking out a review will assist you to discover where your finances can be amended and maybe where you might make improvements.

It is essential to re-examine your Savings, to ascertain they are acceptable to the level of risk you are happy to take. It is also worthwhile reviewing your credit cards such as Amex, Visa, gas & electricity as well as insurances to see if you could get an improved deal. Even a small improvement could make a massive difference to your monthly budget.

Making the most of your yearly taxation allowances such as mini and maxi ISAs, CGT allowances and retirement planning are also ways of cutting the level of taxation you might pay.
Whilst income and capital gains tax are important, the impact of inheritance Tax (IHT) should likewise be thought about.

Many hold assets over the value of the Inheritance Tax Nil Rate band. Competent tax advice can be used to reduce the overall amount of IHT their estates might have to pay.

For many individuals, the functions supplied by Financial Advisers allow them to review and implement amendments to their finances.

If you believe that you would gain from impartial financial advice please call us on 01454 321511.

Consilium Asset Management