Estate planning and tax advice [LP]

The UK has one of the most complex tax systems in the world. Successive governments have added legislation which mean that your earnings, your investments and your estate are all heavily taxed.

Yet there are many legitimate ways to reduce the amount of tax you pay and put more money in your pocket.

Without expert financial advice it can be hard to know where to start. And difficult to even figure out whether you’re paying more tax than you need to. That’s where Flying Colours can help.

How to pay less tax

In order to pay less tax you first need to understand what tax you are paying and what allowances are available to you under UK law.

There are straightforward ways to ensure you’re managing your money in a tax-efficient manner. These can include: making the most of your ISA and pension allowances; spousal transfers; or selling down investments over time to ensure you don’t pay more capital gains tax than is necessary.

The inheritance tax problem

Inheritance tax is charged at a punitive 40%. That means almost half of your wealth above your nil rate band goes to the taxman.

But inheritance tax is actually a legitimately ‘avoidable tax’. Despite this, every year people in the UK pay more than £3.8bn to the taxman un-necessarily. It doesn’t have to be this way.

At Flying Colours we believe that you should be able to pass on as much of the wealth you’ve earned as possible. Through careful assessment of your situation and objectives we can develop strategies such as gifting to reduce or eliminate the tax your heirs pay on your estate.

Our tax advice

Our independent financial planners and tax experts will work with you to understand your current tax situation and your objectives. They’ll then propose strategies to manage and reduce your tax bill.

We’ll only ever recommend the best tax advice approach to suit your circumstances at the best possible cost.

Low-costs, now and forever

We’ve designed our business to make sure you pay as little as possible in fees for advice and investments and we believe we can deliver this at the best cost in the UK. You can read about our fees promise here.

We’re also offering £100 in Amazon vouchers for qualifying clients who undertake a full financial review with one of our advisers. There’s no obligation to proceed with the advice. You can read the terms and conditions here.