For lots of individuals Two thousand and nine was a yr we’d rather forget. A global recession, stock Exchange set backs and a general impression of uneasiness have left lots of people feeling quite uncertain about next year.

Hopefully 2010 will be a more satisfactory year. Nonetheless there are measures we can take to improve our financial situation.

One thing we can do to get the situation into perspective is to review our finances. Whether it is your mortgage, loans, investment funds, income or spending habits need to be surveyed on a regular basis.
Taking out a review will assist you to identify where your finances can be amended and maybe where you need to make improvements.

It is essential to re-examine your investments and savings, to ascertain they are suitable to the level of risk you are inclined to bear. It is also worth looking at your credit cards, gas and electricity as well as insurance to see if you could get an improved deal. Even a small improvement could make a big difference to your regular budget.

Making the most of your yearly taxation allowances such as Isa’s, CGT allowances and retirement planning are also ways of cutting the level of tax you could pay.
Whilst income and capital gains tax are significant, the result of IHT should too be considered.

Many individuals and parents have assets over the value of the Inheritance Tax Nil Rate band. Good tax planning can be used to reduce the amount of IHT their estates might have to pay.

For lots of people, the services supplied by Financial Advisers help them to re-examine and put into place changes to their finances.

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

Consilium Asset Management