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For individuals 09 was a year we’d rather forget. A world-wide depression, stock market set backs plus an overall impression of uneasiness have left a lot of people feeling quite unsure about next year.

Hopefully 2010 will be a better year. Still there are steps we can take to improve our financial wellbeing.

One thing we can do to put the position into perspective is to look over our finances. Whether it is your home finance, loans, investment funds, income or spending patterns need to be surveyed regularly.
Taking out a review will help you to discover where your finances can be improved and where you should make alterations.

It is vital to review your investments & savings, to ascertain they are suitable to the amount of risk you are prepared to take on. It is also worth looking at your credit cards such as Amex, Visa, gas & electricity as well as household and car insurance to see if you could get a better deal. Even a little saving could make a big difference to your monthly budget.

Making the most of your yearly taxation allowances such as Isa’s, capital gains tax allowances and retirement planning are also ways of keeping down the level of tax you might pay.
Whilst income and capital gains tax are important, the result of inheritance Tax (IHT) should likewise be thought about.

Many possess assets in excess of the value of the IHT Nil Rate band. Efficient tax advice can be used to shrink the amount of tax their beneficiaries might have to pay.

For numerous people, the services provided by Financial Advisers help them to review and put into place changes to their finances.

If you think that you would gain from independent financial advice please call us on 01454 321511.

Consilium Asset Management