The Tax Year End Is Looming
With the tax year coming to a close on the 5th April, now is an opportune moment for us to remind you about your key allowances while there is still time to act, if you haven’t done so already. These include valuable inheritance tax gift allowances.
In late October financial markets came back from the brink of very sharp falls. Optimism took hold as investors imagined that interest rates might fall much sooner than expected in 2024. Is that optimism justified? Let’s see…
In recent weeks you might have spotted scary headlines proclaiming that just ahead lies a repeat of the Great Crash on 19th October 1987. Other than it is October again, the parallels are very small indeed. If only that were good news, but it isn’t. Where we are today is both more complex and more dangerous, unless you are prepared.
This runs a bit longer than usual, but a lot has been happening.
We will start with hidden opportunities, those typically out of sight of UK-based investors, seduced by our media gloom. Then we will move on to the less positive bits.
Getting to grips with Capital Gains Tax (CGT) is particularly important right now, as the rules are changing quite dramatically from April.
For example, you could be somewhat better off paying some capital gains tax now, rather than paying even more in the next tax year, after 5th April 2023.
In December 2022 we said: “If you took a strong view on markets in 2022, whether up or down, it was a ‘A Year Of Pain’, as the FT put it”
With 2022 coming to a close, it is time for our Winter newsletter 2022, including:
“Opportunities, Like The Phoenix From The Ashes”, by Brian.
“How To Reduce Inheritance Tax”, by Gus and Hayley.
“My Experience With Dementia”, by Kylie.
“Reading List For Kids”, by Tara.
This update runs longer than normal. There is a lot happening! 2022 has been a year of transition. Not just the end of the Elizabethan Age, but the end of an extraordinary 40-year downtrend in inflation and interest rates. We have said many times that when the latter trend ends, it will be painful, and you have begun to see that in 2022 – but it is only the beginning of adjustments.
This will be particularly interesting for those advisory clients who are using our discretionary fund management (DFM) service, or those who are contemplating doing so. At a high level we often talk about the need for any successful investment strategy to be split between your attack and defence – this blog is about the defence. Though written for DIY investors using FundExpert, this defence is at the heart of our DFM portfolios.“Stop Using Stop-Loss Orders…They Don’t Work!” is a headline we came across this week from Fisher Investments (the original article is actually from 2019 but we have clearly been too slow to react!).
Queen Elizabeth holds different memories for different people, her light-hearted involvement in the 2012 Olympics with the corgis and James Bond was delightful, and with her Dublin visit in 2011, her diplomatic skills and charm triggered a great leap in British and Irish relations, as she spoke about the historical complexities with great dignity.
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