With the amount of noise there’s been about it, I’d say a big overhaul of CGT is pretty much a certainty. On the other side of the Red Wall, it’s no doubt seen as a fat cat tax and the rates for property sales are already more than those for sales. I doubt they’ll do more extreme things, scrapping or cutting the allowance, and, bearing in mind how much they need to raise to pay for All This, there are worse options. For better or worse, it’ll probably mean I won’t be selling up and retiring. Back to the ‘until I drop’ option.
“Record year for annuity sales driven by advisers”
I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.