Benefits of Financial Advice That’s Independent
Global Equity markets are fickle, the uk has overspent and many people are not sure of the future as far as businesses, money & finances are involved. It might all seem somewhat bleak and indeed the United Kingdom has a lot of pain to suffer before we begin to get the finances straight. Although the new coalition government might begin to tackle the issues facing the economy we can all take a little time to go over our own individual finances.
I believe that where change happens, opportunities are present. The emergency budget might close off some loopholes as far as tax planning is concerned, but others may open up to promote entrepreneurship and long term saving. Personally if you can make the most acceptable investment return for the amount of risk you are prepared to accept , combined with using tax breaks and low-cost investment products, then over the long term you should see the benefits.
The old phrase “don’t let the tax tail wag the dog” has never been truer. On The Face Of It a large number of individuals with buy to lets have put them on the market, hopefully to sell before the emergency budget in three wks time. The reason is the possible change to capital gains tax. Great, but what if the government decide to backdate CGT to the 6th of April. In reality these investors should have taken the possible action of CGT into account when planning their investment portfolios. Property is an ill-liquid asset cannot be easily disposed of. Due to the gain in property values over the last 10 years some investors will face possible CGT bills when they least expect it.
A competent financial adviser will be able to indicate the Disadvantages & advantages concerning different types of investments. This should include the investment risks and potential tax implications.
Consilium Asset Management is an IFA in Bristol.
