Benefits of Independent Financial Advice
Equity markets are rocky, the UK has overspent & many people are unsure of the future as far as work, money & finances are involved. It might all seem very uncertain and indeed the UK has a lot of anguish to expect before we start to get the books in order. Although the new coalition government will hopefully begin to address the problems facing the economy we can all take a little time to review our own individual finances.
I am a firm believer that where change comes about, chances are present. The emergency budget could close many loopholes as far as tax planning is concerned, but others may open up to encourage entrepreneurship & long term saving. Personally if you can get the best investment return for the level of risk you are able to accept , combined with utilising 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 truer. Seemingly a large number of individuals with buy to lets have put them on the market, hopefully to sell before the emergency budget in three weeks time. The reason is the possible modification 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 designing their investment portfolios. Property is an ill-liquid asset cannot be easily disposed of. Due to the increase in property values over the last ten yrs some investors will face potential CGT demands when they least expect it.
A competent financial adviser will be able to show the Disadvantages and Advantages concerning different types of investments. This should include the investment risks & practicable tax implications.
If you’re looking for advice on investment management, Bristol based Consilium Asset Management can help you.
