A Shropshire accountancy firm has strengthened its tax team with the promotion of one of its personal tax specialists.
Jess Swift manages a wide-ranging portfolio of clients at Dyke Yaxley Chartered Accountants, in Old Potts Way, in Shrewsbury, looking after all aspects of their tax compliance and planning needs.
And following her promotion to the role of tax client manager, she has chosen to specialise in trusts and estate planning.
“I’ve chosen this area of work as I recognise the importance that trusts can play in reducing Inheritance Tax bills, and how they give control over how assets are used and enjoyed by future generations,” said Jess.
“Trusts can be a complex matter, but there are many ways they can be used to help reduce the tax liability on an estate when it comes to Inheritance Tax planning during your lifetime, or when a loved one dies.”
Jess said trusts could also help to protect children’s or grandchildren’s legacies from their own marital disputes, or help to avoid giving younger generations large sums of money that they may not spend as wisely as you would like.
“People can be put off using trusts because they feel they are complicated or expensive, but with Inheritance Tax rates at 40%, the potential tax savings can easily outweigh the set-up and administration costs.”
Dyke Yaxley’s managing director, Marie Bramwell, said Jess had thoroughly deserved her promotion thanks to the hard work she had put in during her time with the firm.
“We have a reputation as a company that is keen to further the careers of our staff and, in particular, to support specialisms that are relevant to our clients.
“It’s always a pleasure to see employees take control of their careers early on and progress through the ranks to positions of real responsibility.”