In spite of rumours in the press over recent weeks the Budget on Monday held almost nothing to excite savers and investors. Pension legislation and tax relief on contributions, which many feared would be targeted, was left alone. Manifesto commitments to increase personal allowance and threshold for paying higher rate tax will be brought forward to 6 April 2019. Here are our Top Tax Tips for your consideration.
Stock markets have bounced this week after what was a volatile October for investors. There’s no obvious catalyst to what’s been driving the move higher over the last few days, however, market commentators are chalking this down to attractive entry levels. In addition to this, further developments this morning (Friday 2 November) raised hopes for a dialling down in trade tensions, after Donald Trump tweeted the discussions with China were moving along nicely. As expected the Bank of England left interest rates unchanged at 0.75% on Thursday in a unanimous decision by all members. In Brexit news, there are unconfirmed reports that the UK has struck a deal with the EU on post-Brexit financial services – which is clearly excellent news and removes a level of uncertainty and has helped sterling recover towards the end of this week.
The information is provided by Brown Shipley for information purposes only. It does not constitute investment advice and must not be treated as a recommendation or an offer or solicitation for investment. The value of investments and any income from them may fluctuate and are not guaranteed. Investors may not get back the amount originally invested. Past performance is not a reliable indicator of future results. Currency fluctuations may cause the value of underlying investments to go up or down. The tax reliefs referred to in this guide are those available under current legislation, which may change, and their availability and value depend on individual circumstances. Brown Shipley does not provide tax advice. Investors should refer to their tax adviser for information on the effect of tax legislation on their individual circumstances.