At Enable we want to remind clients that for 2013/2014, individuals are entitled to an annual exemption of £10,900 and trusts of up to £5,450 (this is reduced where the settler has set up several trusts, subject to a minimum of £1,090 per trust). Enable’s IFA'ss would recommend that if you think that your investments have made substantial unrealised gains and you have not yet made use of your annual allowance, you should consider talking to one of our Independent financial Advisors as you may be able to utilise your annual allowance, or put it to similar good use. You could for example, consider reinvestment in an ISA (subject to the ISA limits), or suing it for reinvestment by a spouse/civil partner or reinvestment into a similar holding. Consideration should be given to transferring assets between spouses/civil partners before encashment of any gains to enable each member of the family to use their annual allowance to maximize your family’s management of its wealth. It can also be important to consider whether any investments have made a loss and whether any excess gains from other sources could be used to offset by any losses. Losses can be carried forward indefinitely, so it is important to include gains, losses and the annual exemption in any calculation to determine how to maximize any Capital gains relief.
Enables IFA’s are available to help you look at how best to manage your capital gains.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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