How can I protect my assets from taxation?
Asset protection in the UK is a complex topic, with lots of conflicting advice online. This article is only meant as a short introduction and to clear up some central concepts and misunderstandings. For in-depth advice and a to fully understand the best asset protection strategies for you, we advise to seek an experienced asset protection specialist in London or near you.
Why should you take active measures to protect your assets?
When you have your savings (liquid assets) parked in a business or personal savings account, the low current interest rate means that your wealth is vulnerable to inflation. Simply because your income from interests is lower than the devaluation by the current inflation rate. Once your interests from your savings exceeds £5,000, not only will your savings be vulnerable to inflation, you will also be subjected to taxation. So if you have large savings sitting in savings accounts, you are most likely losing money at the moment and it’s not different with non-liquid assets. Profits, returns, and other income from property and other assets will be subjected to capital gains tax and other forms of extra taxation.
Luckily there are asset protection specialist in Manchester, London, and Yorkshire, able to help you keep your savings and assets secure, while adding to your wealth instead of diminishing it. One of the most popular forms of asset protection in Manchester and across the UK is creating an asset protection trust to mitigate the effects of taxation, and protect your assets in case of unexpected events such as divorce or bankruptcy.
Are asset protection trusts dangerous?
Asset protection trusts are the most effective financial planning strategy against creditors, lawsuits and judgments, and a surprisingly good tool for personal wealth protection. While it this true that asset protection trust are not 100% risk free, neither are any other form of asset protection in London/the UK. But trusts might be the most beneficial for your situation, as long as you know what you are doing. For that reason we advise that you to work with a trusted financial advisor when setting up a trust for your assets.
Issac Qureshi is an asset protection specialist in Yorkshire, who has a long track record of helping clients safeguard their assets in a broad range of situations.
From helping seniors insure their estate against inheritance tax, and a comfortable retirement for themselves. To wealthy professionals and business owners, getting the most effective tax strategy. Issac Qureshi is a trusted specialist in asset protection in Yorkshire For more information about improving your tax strategy, contact Issac Qureshi via the form below.