Investment Portfolio

Mr & Mrs X approached Grosvenor Consultancy Limited on the advice of their accountant to help them maximise the tax efficiency of their investment portfolio and to consider their options regarding their personal tax liabilities. They were already in receipt of a sizeable retirement income – most of it in Mr X’s name – including dividends from directorships, and were instructing their accountant to help them manage their personal tax situation. Without careful planning, Mr X was at risk of losing his personal allowance, whilst his wife was a basic rate tax payer.

The couple were unhappy about the level of service they were receiving from the investment arm of their High Street Bank. Although they were quite satisfied with the performance of their investments they had some concerns about administration inconsistencies, reporting inaccuracies and how departmentalised the bank had become. They wanted a personal service to guide them through retirement and to offer support in the future to their family.

We conducted a comprehensive review of Mr and Mrs X’s existing investments, including the tax efficiency of their portfolio, and assessed how gains were being managed. Their accountant had identified that some of the tax planning aspects of their portfolio had been overlooked. She was conscious of the need to involve a qualified Independent Financial Adviser.

As they progressed further into retirement the couple’s attitude to risk was changing and the role of their accumulated investments was becoming more significant in financing their discretionary spending.

As a result, we implemented a 12 month programme to manage any tax liabilities arising in their investment plan. We consolidated their portfolio in line with their risk tolerances, taking into account their capacity for loss in retirement; and reassigned some investments according to the couple’s different tax statuses. We provided a structure which facilitated additional, tax efficient income payments and introduced them to Inheritance Tax Planning solutions. With a very close immediate family this aspect was important to them.

By putting a service agreement in place we were able to establish regular face to face reviews, as well as working together with the couple’s accountant. We simplified the management and reporting aspects of their portfolio, and provided online access enabling them to obtain clear valuations of their entire portfolio at any time.

Mr and Mrs X are now in a position to begin Inheritance Tax planning.

Risk Warning and Regulatory Statement

Grosvenor Consultancy Limited is authorised and regulated by the Financial Conduct Authority (Reference 187799).

Tax rules, rates and allowances are all subject to change and are dependant on individual circumstances. The Financial Conduct Authority does not regulate tax advice and some forms of offshore investments. The value of investments and the income from them can fall as well as rise and you may not get back the full amount you invested.

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