Do we, then, concentrate too much on helping our clients to reduce their tax liabilities? Often, we’re first contacted by those worried in particular about Inheritance Tax. They’ve perhaps seen the sale price of a house next door, and realise that they are, by default, richer than they thought. Sometimes the ‘problem’ (not theirs, I guess, but their family’s when they’ve gone) is much bigger. And I have to say over the years that no more than a handful of many hundreds or thousands with whom I’ve spoken have said they’re quite happy to pay and not try to reduce what’s due. With other taxes, those on investment income and interest and, of course, capital gains, there is increasingly little we can do but say ‘it’s a nice problem to have’ or ‘pay more into your pension’. We wouldn’t be doing our job if we didn’t try or at least inform; but, yes, I guess, it should never be the be-all.
“Trade war: Stock markets rally as Trump rows back on Fed and China threats”
Yet another reminder, should one be needed, of how quickly things can and will change. A nod and a wink in the right direction from himself and/ or an underling can provide the solace the money men crave and turn a plummet into, if not a soar at this stage, then certainly a bounce.
