Financial CAre

IAIN BETHUNE CA FCMA

Quite apart from running your business on a daily basis there are other matters which require your attention if you are to succeed in attaining the lifestyle you have set for yourself.

You should be planning your personal future, especially your retirement requirements, and considering how best to tackle the Income Tax, Capital Gains Tax and other taxes which are lurking there in the background.

Firstly, have you made a will? No, it is not tempting providence but rather ensuring that what you wish to happen to your estate really does happen.

Inheritance Tax - plan now to cut the bill and don't leave it to someone else to sort out later - it could be too late then.

How best to pass on your assets to your family needs close scrutiny - if you have a business do you sell it or pass it on to the next generation?

More people are retiring at earlier ages these days - which means that we have to survive longer on whatever income there is after retirement. There is more to retirement planning than pension contributions. Among the questions to be answered are how much will funding your retirement cost and how much is enough to retire on.

Do give it some thought.

This practice is regulated by the Institute of Chartered Accountants of Scotland for a range of investment business activities.

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