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For many people 2009 was a yr of hardship. A worldwide recession, stock Exchange turbulence and an overall feeling of unease have left a great deal of people feeling quite doubtful about the future.

Hopefully 2010 will be a better year. Even So there are steps we can put into place to help our financial wellbeing.

A small thing we can do to put the situation into perspective is to reexamine our financial status. Whether it s your home finance, borrowing, investment funds, income or purchasing patterns need to be reviewed on a regular basis.
Carrying out a review will assist you to identify where your finances can be bettered and maybe where you should make improvements.

It is fundamental to re assess your Savings & Investments, to ensure they are suited to the amount of risk you are happy to accept. It is also worth looking at your credit cards, gas & electricity as well as house and car insurance to see if you could get a better deal. Even a little improvement could make a difference to your regular budget.

Making the most of your yearly taxation allowances such as mini and maxi isas, capital gains tax allowances and pension planning are also ways of cutting the level of tax you might pay.
Whilst income and capital gains tax are important, the impact of inheritance tax should also be thought about.

Many , have assets in excess of the value of the IHT Nil Rate band. Effective tax advice can be used to reduce the overall amount of IHT their beneficiaries might have to pay.

For lots of people, the services provided by ifa’s allow them to reexamine and put into place amendments to their finances and savings.

If you believe that you would benefit from independent financial advice please call us on 01454 321511.

Consilium Asset Management