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Graham
Meheux
After
gaining a
B.A. at
Oxford
University
in 1967, I
taught for
three years
in the
Netherlands
and UK. I
then trained
in
Switzerland
as a
Management
Consultant
with Handley
Walker
(Europe)
before
returning to
the UK in
1971 to work
in
Management
Services in
the National
Health
Service,
eventually
specialising
from 1975 to
1977 in
modernising
the
purchasing
function for
Essex
Area Health
Authority. I
was then
enticed back
to the
private
sector to
establish a
sales
function for
two small
companies,
and moved
from there
into Sales
Management
with Shell
in the
1980s. I was
asked to use
my skills
and
experience
to manage
another
purchasing management
reorganisation
for the NHS,
and on
completion
of the
project in
1986 I
entered the
financial
services
industry
with a City
brokerage,
using my
sales and
administrative
abilities to
help the
firm
quadruple in
size. In
2000, I
established
my own firm
of
Independent Financial
Advisers,
Moneygrowth
Financial
Services
Ltd. The
Moneygrowth
proposition
is to offer
affordable
independent
advice
on Inheritance
Tax
Planning,
Life
Insurance,
Pensions and
Investments.
I believe it
is the
breadth of
my
experience
allied to
technical
competence
in my field
which has
equipped me
to offer a
very
personal service
to very
important
people;
because all
of my
clients are
very
important to
me.
Increasingly
I have found
that a major
concern for
my clients,
and for
those they
have
introduced
to me, is
the prospect
of paying
40% tax on
much of
their assets
when these
eventually
pass to
their
children -
even to the
point where
part of the
asset base
has to be
sold to
satisfy the
taxman. The
most common
scenario is
where the
client has
worked
extremely hard
to develop
and maintain
a degree of
wealth, in
order for
his or her
children to
benefit
fully from
this effort.
It is often
the case
that once
the client
has reached
this point
and is able
to stand
back from
the
situation
and look
forward,
only then
does the
realisation
come of the
potential
liability to
Her
Majesty's
Revenue and
Customs.
Nevertheless
it may not
be too late
at this
stage. The
financial
services
industry has
an enviable
track record
of adjusting
to changes
in
legislation
which are
designed
principally
to boost tax
revenues. As
new
legislation
reaches the
statute
books, so
minds are at
work
developing
solutions
for the
consequent
problems
presented to
the
taxpayer,
and this
year is no
exception.
The
Chancellor's
attack in
the Budget
on the use
of trusts is
just such a
situation,
and we are
already
offering
innovative
tax planning
solutions
designed to
limit the
success of
the
Chancellor's
strategy!
We are also
very aware
that all IHT
planning
needs to be
flexible, to
be able to
accommodate
changes in
the
circumstances,
lifestyle
and
objectives
of those we
advise. One
client
couple we
recently
advised on
IHT planning
(inter alia)
are 30 and
28 years old
with a very
successful
business due
to go public
in 3 to 5
years time,
at which
point their
objectives
will change
dramatically.
This is a
very
different
scenario to
that of
another
(much older)
client who
plans to
work for
literally
the rest of
her life and
requires IHT
planning
advice to be
based almost
exclusively
on a
property
portfolio
she has
developed
over the
years. No
two IHT
planning
solutions
are the
same; and in
every case
the client
chooses from
a number of
options with
different
features and
outcomes.
Do please
take the
time to
complete our
(very short)
client
details form,
which will
enable us to
determine
whether we
think you
could
benefit from
our advice.
We guarantee
that no
personal
information
will be
passed on to
third
parties, and
that
information
provided at
this stage
will only be
used to
assess the
likelihood
of our being
able to
help. No
formal
relationship
will
therefore be
established
and no
advice given
until
further
discussions
take place.
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Meheux is a
trading name of Moneygrowth
Financial Services Ltd
authorised and regulated by the
Financial Services Authority (FSA).
The FSA does not regulate some
forms of Mortgage, Inheritance
Tax Planning, Credit Cards,
Personal Loans, Deposit Accounts
& Insurance. FSA
register (www.fsa.gov.uk/register/)
under reference 229047
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