Manage episode 296303228 series 2176573
Don't pay tax!
Hold on Nigel and Ray, that's illegal isn't it?
Ok, let's say Don't Pay Tax when you don't have to!
Not paying tax when you have to pay tax is definitely illegal (it's called tax evasion). But paying tax when you don't have to, simply because you didn't set your affairs up correctly, is crazy, right? And if you could arrange things so that you DON'T pay tax then that would just be seen as sensible, yes?
In fact paying tax when you don't have to is often called a tax on being ignorant.
Now tax is a really contentious issue and when you talk about (not) paying tax it provokes a vicious and often unwarranted outburst from many. But let's just take a calm and rational look at things shall we? If you feel at the end of this that the tax laws are wrong then please don't get angry, instead it should be your mission to get elected and change them!
In this episode what we are talking about is what is often called 'Estate Planning'. In brief this is where you look long-term, beyond your lifetime, and put in place some plans that are a) totally legal and b) very sensible and c) are low cost but could save you and your descendants or will beneficiaries £000s or more.
To help you we are putting together a checklist for you to use to take to the relevant person who can help you set things up. We are talking Lasting Powers of Attorney, Wills, Trusts, etc.
Got to the website www.htrmoney.co.uk to get a copy.
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Before you do anything else, remember that anything Ray or Nigel talk about, share, discuss, etc is for entertainment purposes only. It is not financial, legal or any other advice of any sort! Do not rely on anything we say or share or do because we are doing it for entertainment purposes only. Think of it like this...we are discussing topics that people may like to investigate further; ideas and information that you might want to consider further; and that sort of thing. You should always seek your own independent advice from relevant people such as lawyers and accountants. Although Ray is a qualified solicitor and Nigel is a qualified accountant, we do not have any agreement with you unless expressly and clearly documented in a contract, so please just enjoy our podcast, our info and our content and use it to as a call to action to seek professional and relevant advice specific to you. Does that make sense? Are we clear on this?! If not, then drop us an email and we can tell you the above again! The reason we say this is that everyone's situation is unique and for us to share general content like we do it means it cannot possibly be taken as specific advice just for you. Happy? We certainly hope so.
Now go and review our 'entertainment' podcast and we will love you forever!
Much love and gratitude, Ray and Nigel