Tax on the Beach · Journal 038

I’ve never voted to have my wealth redistributed..

Martin Beadle · 12 November 2024 · 324 words

I’ve never voted to have my wealth redistributed..

The Fabian Society was founded in London in 1884. It was created as a political movement, and named after the ‘Cunctator’

In Roman times, Fabius Maximus, the Cunctator, drove militarily superior Hannibal crazy, by endlessly avoiding and delaying engagement

The strategy of unending delay turned out to be effective, as the objectives were constantly changing. The term ‘procrastination’ was born, and it could be very effective. Events could take their course, and people could change their minds, before committing to irreversible policies

Fabian entrepreneurs include Bill Gates of Microsoft, and Mark Zuckerberg of Facebook. Both used cautious approaches to building their business. ‘Make haste slowly’ worked for them

In everyday life, there’s a correlation between procrastination and lack of urgency. Confronted by an angry bear, one might opt for a quicker decision process (perhaps involuntarily!)

At times when procrastination is just a function of lack of willpower, or low motivation, maybe we need to seek a goal that’s really important to us, and associate a strict timeline with its delivery?

Planning how best to pass tax-efficiently to your children, the legacy you have spent your entire life creating, might be among the very best goals, for you and your family

Generally, clients are bad at filtering information and legacy planning is a technical subject that, done properly, will likely take around 52 weeks from start to finish

Here’s some free motivation. If you live to 80, that’s equates to just 4,000 weeks on the planet. If you’re reading this, and you’re 65 now, there’s maybe only 780 weeks left to make decisions, for your family

After that, HMRC will decide for you, and aim to confiscate 40% of everything you’ve worked for!

Complex tax planning requires a Chartered Tax Adviser. Book your FREE power-hour discussion HERE. There’s no obligation whatsoever..

Toodle pip

Important. Tax on the Beach is the personal column of Martin Beadle, Founder. It is general commentary, not advice, and reflects the rules as at the date of first publication shown above – figures and legislation may have changed since. Reth!nk.tax is not authorised or regulated by the Financial Conduct Authority and does not provide regulated financial, investment or pension advice. All tax advice is provided, in writing, by Chartered Tax Advisers.

«Newer: Blinded by the light.. Older: When we wax technical..»

Important. Tax on the Beach is the personal column of Martin Beadle, Founder. It is general commentary, not advice, and reflects the rules as at the date of first publication shown above - figures and legislation change. All tax advice is provided in writing by a Chartered Tax Adviser who is a current member of the Chartered Institute of Taxation.

Book a Power Hour   All editions