“Will social distancing become the new normal?”

May 1, 2020 | In the news

An independent (financial adviser’s) view

There’s a fellow jogger I see every morning who, when he spots me in the distance, pulls up a face mask, lowers his dark glasses and moves so far onto the verge that the sheep on the other side of the wall do a runner. I’m assuming (hoping) it’s nothing personal and just part of the strange new world in which we live in (to quote P. McCartney). Of course, there are some advantages to social distancing. If you’re a church-goer, online services mean you can avoid that awkward handshakey/huggy ‘sign of the peace’ bit. But what and how much will change for ever, or at least the foreseeable? The jury’s out. And unless they’re in a virtual court, will be for quite a while.

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“Reeves backs down on plans to cut ISA limit”

“Reeves backs down on plans to cut ISA limit”

So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.

“Two thirds of adults are worried about care costs in later life”

“Two thirds of adults are worried about care costs in later life”

A dichotomy/dilemma here. Two thirds of adults are probably right to be worried about the cost of care, which is huge and getting more so. Many of those currently worrying will have had first-hand experience with their own parents, which will have focused their minds on their own possible future.

“Why most won’t need to worry about IHT on pensions”

“Why most won’t need to worry about IHT on pensions”

Many a government has made the point that only a minority will be affected by this or that tax change or tinker. It is, however, both perception and aspiration which are important, and they are what makes IHT the ‘most hated’ of all taxes – along with all the others, of course.