Income Tax and CGT Planning

Before my first meeting with my OCM adviser, I had over the course of the last 15 years received advice from a number of different financial advisers and accumulated an investment portfolio consisting of six investment bonds which I had been careful to arrange with reputable insurance companies.  Now, I wanted someone to review my investments and tell me whether they still fit my needs.

We agreed that research be carried out into each of my six investment bonds to review their current status.  All aspects of existing investments were explored including details of any penalties and charges that would apply if I chose to rearrange them.  I realised I needed to take action to adjust my investment portfolio after it was explained that I could save a lot of Income Tax and Capital Gains Tax by changing the structure.  OCM recommended that I adjust my portfolio to take advantage of my tax-free annual Capital Gains Tax Allowance and, thereby, reduce overall taxation on my investments from about 20% per annum to 7% or less.

Now, I know that my investment portfolio is arranged as tax efficiently as possible and each year, OCM automatically adjusts my portfolio to improve the tax efficiency even further by utilising my annual ISA allowances even if I am not able to send a cheque for a top-up investment.