Can we identify any clients for whom the Budget has been positive? I’m struggling. The only positives were the negatives which didn’t happen: pension tax-free cash, annual and lifetime allowances unchanged, ISAs still there and not reduced or watered down, other allowances not increased but not decreased either. The biggest negatives for our clients? Many will have to pay CGT for the first time as investments have gone up, and they’ll pay a higher rate. Quite a few may have Inheritance Tax to pay because their pensions will push them over the limit. And a few who invested in AIM portfolios to reduce their IHT will only reduce it by half as much as they thought. We can help to reduce the harm and that’s our job, I guess. But there are sadly not many legal magic wands to wave, and without chucking it all in and becoming a hard-working family, many will have to square up their broad shoulders, I fear.
“2024 a mixed year for sustainable investing, report finds”
lthough in theory the environment (pardon the) for sustainable/ethical/responsible funds improved significantly last year, the performance of many did not. Excluding oil/mining/guns/fags all hampered their performance in the aftermath of Ukraine.