What I’ve Been Reading

Richard Reed, one of the founders of Innocent Smoothies, published a book in 2016 entitled ‘If I Could Tell You Just One Thing’. It is essentially a book based on his encounters with remarkable people. From politicians and world leaders to comedians and rock climbers, he asked them all, if they could offer just one piece of advice, what would it be. The resulting book is probably the most diverse range of advice that you could hear, but what is interesting is that recurring themes keep arising. Easy to read or listen to in bite-sized chunks, there is something for everyone here.

A Good Cause to Support

Common advice is that roughly every 500 miles you should change your running shoes. It is also advised to use at least 2 pairs of shoes over a season, and ideally from 2 different brands, so that your feet develop more strength and you are less prone to injury. Whether you stick to this principal or not, it can mean a lot of good running shoes going in the bin.

When chatting to professional Ironman, Laura Siddall, she introduced me to Soles4Souls, a charity that turns unwanted shoes and clothing into an opportunity, by putting them to good use – providing relief, creating jobs and empowering people to break the cycle of poverty. So if you have unwanted running shoes, please donate them with a donor form to:

Soles4Souls @ Neuff

3 Abbots Close

Lee Mill Industrial Estate



PL21 9GA

Another way running can make the world a better place!

What I’ve Been Watching

Over the winter whilst on the turbo trainer, I watched a number of the Derren Brown specials. I love the psychology behind them trying to highlight how we are often manipulated into doing things that we wouldn’t usually contemplate. One such special was ‘The Push’ where he engineers an audacious social experiment, demonstrating how manipulation can lead an ordinary person to commit an appalling act. The question is, can Derren get a good, honest person to push another person to their death? Watching it unravel, and the planning that goes into it is incredible viewing!

Quote of the Week

“We are, each of us, a product of the stories we tell ourselves”

  • Derren Brown

Finance Theme I’ve Been Considering

I was chatting to a client earlier this week who had a large holding in property. He was concerned about his Inheritance Tax (IHT) position, as he didn’t want a fire sale of his assets to be forced on his children when he was gone.

Many people choose to sell additional properties during their retirement, as they can often get similar returns, less risk and hassle and mitigate IHT more easily, but it isn’t always possible or desirable. Unlike with cash, putting properties into trust can often be a messy and expensive move. However, there is one last chance solution to mitigate the tax -using what is known as a ‘Whole of Life’ policy you can ensure that, on death (whether that is soon or long into the future), there is a lump of money sat in trust, ready to pay the tax, in exchange for what can often be a relatively small monthly premium. It buys you time to reduce your estate through gifting, allows you to hold assets pregnant with gains, and, in some instances, can just be seen as a good way of creating a legacy for the next generation.

If you, or the generation above you, want to look at ways to save IHT, there are many different routes, and we are happy to help you navigate the best ones. Rarely is there a ‘one size fits all’ solution so it is more often a blend of different approaches that we can help you with.

I will be hosting a live webinar on 8th October at 10am on IHT planning and creating a legacy, so if you or someone you know is interested, please contact charlotte@efficientportfolio.co.uk to secure a place.

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