Benefits of Independent Financial Advice
Stock markets are shaky, the UK has overspent & many people are not sure of the future as far as jobs, money and finances are concerned. It might all seem very uncertain & indeed the UK.PLC has a lot of pain to accept before we start to get the finances straight. Although the new coalition government will start to tackle the issues facing the economy we can all take time to review our own personal finances.
I believe that where change comes about, 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 & long term saving. Personally if you can get the most acceptable investment return for the amount of risk you are prepared to accept , blended with using tax breaks and low cost investment vehicles, 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. Apparently a large number of people with buy to lets have put them on the market, possibly to sell before the emergency budget in 3 wks time. The reason is the potential change 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 possible action of CGT into account when planning their investment portfolios. Property is an ill-liquid asset it cannot be easily disposed of. Due to the gain in property values over the last ten years some investors will face potential CGT bills when they least expect it.
A good financial adviser should be able to show the possible pitfalls concerning different types of investments. This should include the investment risks and possible tax implications.
If you’re looking for small business advice, Bristol based Consilium Asset Management can help you.
