- Outlining the complications for clients considering gifting a property to another person to avoid paying for Long Term Care (in terms of deprivation of assets, Capital Gains Tax (CGT) implications and Inheritance Tax implications) and what other planning is available instead to help meet care fees.
- For clients at point of entry to, or already in, residential/nursing care (or their Attorneys) - advice on meeting any shortfall in funding care fees or ensuring that capital is not eroded over the long term to pay for care fees as care fees increase. This could include advice on maximising income, both from State Benefits and investments or implementing a specialised immediate care plan, which provides a guaranteed income towards the cost of care for however long it may be needed.
- How best to invest any lump sum from sale not used to redeem mortgage to achieve long term capital growth and/or income
- Ensuring adequate Life Assurance is in place to cover any mortgage liabilities and ensure dependants would be adequately provided for in the event of the death of an income earner
- IHT planning
For an individual buying or selling a holiday let / buy-to-let / Commercial Property
- Minimising Income Tax liabilities
- Minimising Capital Gains Tax (CGT) liabilities - There are methods to reduce any Capital Gains Tax liability on the sale of a buy-to-let property, but these can be complicated and some methods require the alteration of the ownership of your property PRIOR to completion of a sale.
- Advice on replacing the income stream that will be lost on the sale of a rental property
- Advice on their property portfolios and how the maximum value can be extracted from them
- IHT planning