Please find below our Investment Market Update as at 29th September 2023.
As we are at the end of the month, we will continue with our series of articles on wider financial planning issues. This time we will cover wealth tax and Inheritance Tax, as well as a summary of this week’s market movements.
This week’s agenda:
- The tax race begins!
- What happened to the wealth tax?
- Politically, a wealth tax is a risk
- Wealth tax and inheritance tax (IHT) are two different things
- What are the numbers around inheritance tax?
- Will IHT be abolished?
- Investment Market Summary
The tax race begins!
As the end of September dawns, we move not only into autumn but closer to the mini budget, which will no doubt give us an insight into how the Conservatives believe they can wrestle voters back to their ranks. It’s going to be a hard task!
One way of sweetening parts of the electorate is by offering tax cuts, which seems counterintuitive for a country which is struggling to function efficiently across so many areas of society. However, the Tories are traditionally a party of low taxation and, as expected, the autumnal air brings with it wafts of tax ideas, intended to test the public’s receptiveness ahead of the mini budget.
With an election looming there has also been some noise about a possible wealth tax emerging, so before I address the latest rhetoric around inheritance tax, I will quickly run through the pros and cons of the wealth tax and the latest sentiment as we see it.
Continues….
Want to continue reading?
Our CEO, Gary Neild, writes an engaging Market Commentaries every week. If you would like to receive the full version straight to your inbox every Friday, please join our communications list.
Risk warning
Please Note: This communication should not be read as giving specific advice regarding your personal circumstances. This would only be given following detailed assessment of your individual needs. The value of investments may fall as well as rise; you may get back less than invested. Past performance is not necessarily a guide to future returns.
