Efficient retirement savings routes continue to be front of mind, along with ways to inflation-proof portfolios and reduce Inheritance Tax liabilities.
Saving on tax and investment costs are frequently not given the attention they warrant, but both are hugely important parts of any affluent individual’s wealth management strategy.
You don’t have to simply accept punishing tax charges on your pension and estate as a High Net Worth Individual, so consider joining our users in proactively planning to protect your wealth.
High earners can feel hemmed in by continued tax raids pension savings, but by thinking outside the box they can find ample tax-efficient routes maximise their retirement savings.
The Budget wasn’t as bad as many feared, but it still had important implications for affluent individuals to attend to across pensions, inheritance and other taxes – all while inflationary fears build.
It’s difficult to say what 2021 will bring for investors (or indeed taxpayers), but it is certain that being proactive about your financial affairs will serve you well whatever the year has in store.
An overhaul of the Capital Gains Tax regime looks likely to be coming soon, meaning that those with significant exposure need to act fast to manage their liabilities down.
2020 has lots of lessons to teach in terms of how best to manage wealth over the long term and the extent to which you can prepare for black swan events.