32 EXPERT ADVICE in association with
TO ADVERTISE CALL 020 3906 8488
26 MAY 2022
YOUR FINANCIAL SERVICES COMPLIANCE EXPERTS
richdale
EXPERT ADVICE
FINANCIAL SERVICES (FCA) COMPLIANCE
Dear Marc We have a financial dilemma. My spouse and I are retired. We don’t want our children to have to pay 40% inheritance tax but we also might need care in the future and don’t want to have to be dependent on our children. We own a second property which is rented out and have various savings and investments. Is there a way to mitigate inheritance tax and keep control and access to our money for now ? Mr and Mrs Cohen Dear Mr and Mrs Cohen Your dilemma is a common one! A competent adviser will be able to direct you through all the important issues you should consider and decisions you need to make to reduce your estate’s inheritance tax liability. Gifting to your children is an option for mitigating inheritance tax. However, this option presents two problems. Firstly, it takes 7 years for the gift to fully exit your estate for tax purposes. You might not have that long before you pass away! Secondly once you gift, you lose access and control of that money/asset. Therefore, it’s not a viable option as you would have to be dependent on your children’s generosity to meet your potential care needs. An attractive alternative option you ought to consider is investing in assets that qualify for Business Relief. The benefits of this option are that it only takes ownership of two years for those assets to be deemed exempt from inheritance tax and you can retain access and control of your money indefinitely. No gifting is required. If you hold these investments at death and they have been held more than two years, these investments will be exempt from inheritance tax. You can also use these investments to pay for your prospective care costs. Investments that qualify for Business Relief come in various forms and with different advantages and disadvantages as well as risks to each investment. Seek advice for an appropriate investment. Marc Ovtis
JACOB BERNSTEIN A member of the APCC, specialising in financial services compliance for: • Mortgage, Protection and General Insurance Intermediaries; • Lenders, Credit Brokers, Debt Counsellors and Debt Managers; • Alternative Investment Fund Managers; • E-Money, Payment Services, PISP, AISP and Grant-making Charities.
Contact: 020 7781 8019 info@www.richdale.co.uk www.richdale.co.uk
CHARITY JEWISH CARE Jewish Care is the largest health and social care organisation serving the Jewish community in London and the South East. Our vital services touch the lives of 10,000 people every week. We provide services and offer a wide range of support groups to older people, people with mental health needs, Holocaust survivors, people living with dementia, people with a variety of needs and carers support.
Contact: 020 8922 2222 helpline@jcare.org www.jewishcare.org
SHIPPING
BUTCHERS
STEPHEN MORRIS SHIPPING With almost 40 years experience, our company has the ability to move household and personal effects and antiques and fine art with the professionalism and care that comes from that experience coupled with an attention to detail. We construct our own Tri-Wall and wooden packing cases on site and employ full-time art installers and handymen for those ‘extra’ jobs that always need doing on a move or installation. And size is no limitation – we have moved trains, boats and planes across the world and even bridges and a 5,000 seater tent!
KOSHER DELI Kosher Deli was established with the intention of making kosher meat and poultry affordable for all with the convenience of multiple locations and a comprehensive delivery service. All this without compromising on kashrus or quality. Locations in: Golders Green, Hendon, Temple Fortune, Edgware, Borehamwood & Manchester
Contact: 020 8832 2222 info@shipsms.co.uk www.shipsms.co.uk
Contact: 020 8381 4450 info@kosherdeliuk.co.uk www.kosherdeli.co.uk
WEALTH MANAGMENT
ESTATE AGENT
MARC OVITS – BA (HONS) APFS CERT PFS (DM) Over 25 years of successful experience in financial services including 11 years of investment banking experience. Offering expert independent financial advice to individuals, businesses, charities and trusts. Individual services:- Wealth Management, Investment, Retirement, Estate/IHT, protection planning, Tax Mitigation and Cash Management Solutions Business & Charity services:- Investment Planning, Business Succession & Business Exit Planning, Business Protection, Corporate Pensions, Employee Benefits, Cash Management Solutions, Profit extraction strategies
MARTIN FRYDENSON - ROUNDTREE REAL ESTATE Roundtree Real Estate are your local experienced Estate Agent having been established on the High Street since 2009. We are both ARLA and NAEA Propertymark regulated and we are here to offer you expert advice in Property Sales, Lettings, Commercial and Full Management Services, covering Hendon, Golders Green, Finchley, Colindale and surrounding areas. We have built long standing relationships with all our clients and should you have any property related queries please do contact us.
Alpha Wealth Management Contact: 020 8203 6920 info@alphawm.co.uk www.alphawm.co.uk
Contact: 020 8203 2111 mail@theroundtree.com www.theroundtree.com
RICHDALE – YOUR FINANCIAL SERVICES COMPLIANCE EXPERTS THEJEWISHWEEKLY.COM
