Looking back at the beginning of 2020, very few of us would have predicted that we’d be in the grips of a global pandemic. With Government relief packages in place, social distancing enforced and health concerns at the forefront of our thoughts, these certainly are unprecedented times.
With leading experts around the globe working tirelessly to develop a vaccine, we have to stay safe and patient. The important thing to remember is that we will move forward from this together, with a renewed sense of purpose.
Looking to the light at the end of the tunnel
Considering the positive side of things whilst all the turmoil is going on around us might be difficult, but if certain things can be made easier for your clients, that can only help. Especially if your clients are looking to discuss their financial future with an expert.
We can support your clients with financial planning, where they can get advice tailored to their financial needs – with no upfront fee. They will only pay a charge if they decide to act on any advice or recommendations. And as a thank you for recommending our services to them, you’ll receive 25% of the initial charge if they decide to take up advice.
Tailored advice that you can trust
We’ve been advising customers on their financial needs for the past 30 years. Whether it’s savings, investments or legacy planning, now could be the ideal time for your clients to review the plans they have in place.
If you have a client who you feel could benefit from speaking to a dedicated financial expert from the comfort of their own home, Skipton offer a complimentary consultation service to help them discover if financial advice is right for them.
Inheritance tax (IHT) is just for the super-rich and social elite among us. Right? Well that’s actually a popular misconception. Many people get caught out by this and because they don’t feel it applies to them, don’t even consider it. This unfortunately results in people not having right plans in place when the times comes.
Taking the necessary steps now is highly recommended. It could save a client you’re helping to arrange a Will for, if they have a potential inheritance tax liability. By referring them to us, you could potentially save their family thousands of pounds in the event of their death.
If you feel your client may have an inheritance tax liability, Skipton Building Society can offer clear, honest and personalised advice – with no pressure to act.
Protecting their estate
Everyone is allowed to leave an estate valued at up to £325,000 free from inheritance tax. Some clients might also be able to benefit from the new ‘main residence nil rate band’ of £175,000, giving a total allowance of £500,000 per person.
Did you know?
What are the next steps?
They may already know the answer to this, or they might be unsure. At Skipton we offer a wide range of different appointment options: over the phone, by video link, in one of our branches or at their home – by referring them to us they choose what works best for them.
We’ll talk about if inheritance tax is likely to affect their family’s inheritance. Then we’ll go away and create their unique financial plan tailored to their situation. Simple as that.
We’ll meet with them again to explain their plan – in plain English. If your client decides not to act on it, that’s fine. We won’t pressure them into doing anything they don’t want to. It’s our No Pressure Promise.
We’ll agree how much help your client needs from us to put the plan into action and any ongoing support they might need once it’s in place. They will only be charged if they go ahead with their plan, and we’ll talk about costs up front, so no surprises later.
It is important to note that some inheritance tax planning solutions put your client’s capital at risk, as they may get back less than they invested. Inheritance tax thresholds depend on their individual circumstances and prevailing legislation, both of which may change in the future. The Financial Conduct Authority (FCA) does not regulate most forms of inheritance tax planning.
Skipton are here to help
Through the Skipton inheritance tax planning service, we’ve already helped thousands of customers put meaningful plans in place to tackle their problem. And we’d love to see what we can do for your clients.