PLANNING CASE STUDY

Mr Paul Male has been supporting me for some years and has always done so in a most professional manner. I much value his honest, accurate and well considered advice and have complete confidence in his judgment.

I have absolutely no concerns about meeting my financial responsibilities as I know that, my financial affairs relating to taxation, are being proactively extremely well managed. He is demonstrably a most experienced accountant who has always responded quickly to any request for support and advice.

PE, Reading

Issue
Mr X and his two sons, from Farnborough, approached us having been recommended by a local solicitor. Unfortunately Mr X had become a widower about eighteen months ago. Quite sensibly he had taken time to think about what he wanted to do and with the help of his two sons had formulated a number of ideas centred around downsizing.

The taxation aspects of each option were evaluated and discussed. We came up with a couple of alternative plans, one of which was accepted by the client.

The benefit
The plan is flexible and can therefore be changed if need be, it enables Mr X to downsize, permits his estate to grow tax effectively, is understandable, provides income to his two sons and offers the scope to make future tax free capital gains of up to £224,500.

Cost
It was difficult to quote for this work at the outset because there were a number of unknowns. However, we estimated a range of expected time requirements, exceeded the upper level but stuck to our original fee quote.