Benefits of Financial Advice That’s Independent
Global Equity markets are erratic, the United Kingdom has overspent and many people are unsure of the future as far as work, money and finances are involved. It might all seem very uncertain and indeed the UK.PLC has a lot of pain to suffer before we start to get the books straight. Although the new coalition government might begin to address the issues facing the UK we can all take some time to go over our own personal finances.
I am a firm believer that where change takes place, chances are present. The emergency budget will close off many loopholes as far as financial 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 , blended with applying tax breaks & 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 closer to the truth. Evidently a large number of people with buy to lets have put them up for sale, hopefully to sell before the emergency budget in three wks time. The reason is the potential modification to capital gains tax. Great, but what if the government decide to backdate CGT to the Sixth of April. In reality these investors should have taken the possibility of CGT into account when planning their investment portfolios. Property is an ill-liquid asset it cannot be easily disposed of. Due to the increase in property values over the last 10 yrs some investors will face possible CGT demands when they least expect it.
A competent financial adviser will be able to indicate the advantages and disadvantages concerning different types of investments. This should include the investment risks and practicable tax implications.
Consilium - Independent Financial Advisers provide financial advice in Bristol.
