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Tax Planning

When it comes to taxes — whether it’s income tax, corporation tax or VAT — it is wise to ensure you aren’t paying more than you need to. Taxation can be very complicated and the rules, reliefs and allowances are subject to change. It’s important to stay aware of the current laws to ensure that you can manage your personal finances in a tax-efficient way. By understanding how taxation works you should be better prepared to manage your finances and could end up saving money in the long run.

In the UK, the tax year runs from 6th April through to 5th April. During this time the Government requires everyone to pay an appropriate level of income tax on their earned income, which helps to pay for public services, like education and healthcare. As well as income tax, you could also be liable for capital gains tax on profits you make from any chargeable assets you have sold or for tax on gifts you have made during your lifetime. If your estate is over a certain value when you die, it will also be subject to inheritance tax.

Tax planning is best done with the help of a financial planner or accountant. Advanced Asset Consultants assess your financial situation and look at your goals in order to formulate a suitable strategy to help you plan in advance and use lawful reliefs and allowances to minimise the amount you have to pay.

This may include checking your annual and lifetime allowance with regards to pensions as there are many people getting caught out due to the reduction in the levels allowable under the new rules, resulting in additional tax being incurred.

Taper relief is another issue that has become a complicated area that we come accross most days and have planning stratagies to assist you in managing this and any reporting that may need be factored in.

Financial Guides

November/December Magazine 2018

November/December Magazine 2018

You have one life, so invest wisely: Identifying multiple risk profiles for multiple goals

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Factsheets

A Guide to How to Grow your Wealth

A Guide to How to Grow your Wealth

Creating a strategy for your investments that match your goals

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News + Media

Financial goal-setting

Friday November 02, 2018

“A goal properly set is halfway reached”. Zig Ziglar The key to building wealth Our life is an endless series of daily choices, and how we manage those choices determines the outcome of our life. We all want financial freedom, but how will we achieve it? Financial goal-setting is the key to building wealth. There …

The post Financial goal-setting appeared first on Investments, Pensions, Life Cover | Independent Financial Advisers | IFA's Glasgow | Advanced Asset Consultants.

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Better Safe Than Skint…

Saturday June 30, 2018

AAC Better Safe than SkintTraditionally when retiring an annuity was purchased providing income throughout life providing longevity protection with over 700,000 pension holders accessing their pots, 17% of which have purchased some form of an annuity, not that surprising I hear you say. However, annuities purchased from existing providers (clients not using open market option) are still hovering around …

The post Better Safe Than Skint… appeared first on Investments, Pensions, Life Cover | Independent Financial Advisers | IFA's Glasgow | Advanced Asset Consultants.

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Insistent Client- Defined Benefit Disaster

Monday April 30, 2018

AAC Insistent ClientThere has been much discussion within the financial advice sector on the term “insistent client” ever more so with regards to Defined Benefits transfers and how this should be approached. Let me nail my colours to the mast from the outset. There is no place for “Insistent client” within the Financial Planning Profession for the …

The post Insistent Client- Defined Benefit Disaster appeared first on Investments, Pensions, Life Cover | Independent Financial Advisers | IFA's Glasgow | Advanced Asset Consultants.

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Stock Market Turbulence Is Normal

Monday March 19, 2018

AAC state pensionDon’t let global uncertainties affect your financial planning for the years ahead. The overall direction of developed stock markets is a relentless and continual rise in value over the very long term, punctuated by falls. It’s important not to let global uncertainties affect your financial planning for the years ahead. Individuals who stop their investment …

The post Stock Market Turbulence Is Normal appeared first on Investments, Pensions, Life Cover | Independent Financial Advisers | IFA's Glasgow | Advanced Asset Consultants.

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Registered in Scotland SC362302 Advanced Asset Consultants Ltd. is authorised and regulated by the Financial Conduct Authority FCA Registration No: 506551 The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK. This website is designed to provide you with general information only and does not attempt to give you advice on any particular investment or to recommend any particular investment to you. If you have any doubt as to whether a particular investment is suitable for you, you should contact Advanced Asset Consultants Limited on 0141 331 2434.