How to Avoid Over £3 Billion in Tax

How to Avoid Over £3 Billion in Tax

The news that (allegedly) the deceased Duke of Westminster’s Estate (the Grosvenor Estate) will largely be passed on with no Inheritance Tax payable has created a furore, to say the least! The figures involved are staggering; estimates of an Estate Value of somewhere around £9-£12 Billion suggest that a strict interpretation of IHT rules and rates means the tax saving could be somewhere between £3.5 […]

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How to Protect your Family’s Wealth During Divorce

How to Protect your Family’s Wealth During Divorce

Are parents liable to be financially affected by the divorce of one or more of their children?   Some of the latest official statistics on divorce in the UK make for interesting reading, perhaps not just for those directly affected too. Here are two to focus on; First off the latest available numbers suggest that around 42% of all marriages end in divorce. Second the […]

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Why should people make a will?

To protect your kids If you have no will and you and your partner die, who would look after the children? People assume grandparents or their own brothers and sisters (the kid’s uncles and aunties). However, this is wrong – the kids become wards of court and the authorities will decide what happens. Sometimes they can go in to care whilst a decision is being […]

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Six ways to spare your heirs from paying Inheritance Tax

Penguin Tax Planning were delighted to contribute to the Daily Mail’s recent article about reducing your Inheritance Tax liability. The article states 6 ways to spare your heirs from paying Inheritance Tax and can be viewed here http://www.thisismoney.co.uk/money/news/article-2732601/Six-ways-spare-heirs-paying-inheritance-tax.html Two of our clients also spoke about how we were able to help them reduce their Inheritance Tax liability and protect their family and wealth through setting […]

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Misconception around gifts and taper relief

This article is inspired out of a need to correct one of the most common misconceptions many people have about gifts. We hear all too often people, having made a gift or considering one, state that they believe the gift will pass out of their estates after 7 years and that taper relief will apply in the meantime. It is possible neither may be true, […]

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The Benefit of Using Trusts

There is a common misconception that trusts, and the use of trusts, are solely for the very wealthy. However, the reality is that trusts are available and accessible to all people and should be considered by all families! They are relatively easy to implement and, in the main, very cost effective. This has come from the development of trusts that can be drawn “off the […]

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Making a will

How to leave the maximum amount to your family and not the tax man, or even someone else’s family. Integral to estate planning is also making a will.     Why do I need a Will? The vast majority of people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, […]

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Inheritance tax will hit many hard

Inheritance tax (IHT) is the most reviled tax of all, and it is easy to see why, because it can take a fat chunk of your family wealth at a single swoop. A single person with £1 million in assets could be liable to a £270,000 tax bill on death. There is plenty you can do to reduce your family’s IHT bill. You can gift […]

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Penguin Tax Planning in the Press

Five ways to save for your grandchildren When you see a beautiful chubby-cheeked baby such as our new royal heir, what do you think? “Aw”? “Coo”? Maybe, “Ugh. Nappies! Sleepless nights!” Well, if you’re the grandparent, and especially if you don’t have the Crown Estate to fall back on, what you should be thinking is: “It’s high time we got Georgie a pension”.   Penguin […]

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Penguin Tax Planning in the News!

Craig Palfrey, the Director of Penguin Tax Planning, has been featured in the Express Newspaper.   Featured in the article “Take advantage of your tax breaks”, Mr Palfrey was commenting on how you can save tens of thousands of pounds through careful inheritance tax planning.   Here’s what Craig had to say:   INHERITANCE TAX   Save tens of thousands of pounds through careful inheritance […]

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