Our Spring Budget Newsletter breaks down the Chancellor’s recent announcement, outlining what it means for you and helping you to plan for the new tax year – which is almost upon us.
In this month’s Market Commentary, Raymond James European Strategist, Jeremy Batstone-Carr, looks back on the strong performance of many of the world’s leading markets, the ongoing popularity of investment in artificial intelligence, and whether this current stock market strength can last.
In the first Monthly Market Commentary of the year, Raymond James European Strategist, Jeremy Batstone-Carr, looks back on the largely positive start to the year for many of the world’s leading markets, the struggles of the Chinese economy, and areas for investors to consider for the coming months.
The first Investment Strategy Quarterly of the year discusses 10 themes for 2024, plus a look at bonds, energy security, and market performance in a presidential election year. Read all this and more in Investment Strategy Quarterly: 2024 Outlook.
In the last Monthly Market Commentary of the year, Raymond James’ European Strategist, Jeremy Batstone-Carr, looks back over November and discusses a shift in investor sentiment, contrasting economic performances, fiscal policy decisions in the UK and Europe, and more.
Our Autumn Statement Analysis breaks down the Chancellor’s recent announcement, outlining what it means for you and helping you to plan for the upcoming calendar year.
More individuals are now enjoying six-figure income, a significant achiement in thier careers. However, affluent earners are confronted with a substantial spike in tax obligations.
In this month’s Market Commentary, Raymond James European Strategist, Jeremy Batstone-Carr, discusses the reactions of the financial markets to the conflict in the Middle East. Plus, a look at inflation and interest rates.
Our latest Investment Strategy Quarterly looks at various geopolitical and macroeconomic themes, including consumer debt and employment, pension planning, and next year’s US election. Read all this and more in Investment Strategy Quarterly: Sailing on strange seas.
In this month’s Market Commentary, Raymond James’ European Strategist, Jeremy Batstone-Carr, discusses the global financial markets, takes a look at the UK and US economies, plus he examines recent challenges in China.
Life assurance
An insurance policy written in trust can help provide your beneficiaries with money to pay any inheritance tax bill. This could avoid your executors having to liquidate assets, like property or investments, in your estate.
Make time for Trusts
Trusts can be complex and costly but they don’t have to be. They are suitable for a number of scenarios. For example, a grandparent might consider using a bare trust to gift money to minor grandchildren which can be used to pay school fees. The advantage of using a bare trust in this way is that the money inside the trust is treated as belonging to the child for tax purposes, allowing them to make use of their personal tax allowances and exemptions which may otherwise go unused.
Prioritise your pension
The earlier you start planning, the easier it will potentially be to meet those lifetime objectives and create the lifestyle you want. If you are enrolled in a workplace pension scheme, you might want to consider enquiring into the maximum amount your employer will contribute on your behalf and consider raising your own contributions if there is scope for the company to raise theirs.
Invest in your ISAs
ISAs protect savers from Income and Capital Gains Tax on the underlying investments. This year’s ISA allowance is £20,000, so if you have any surplus income you might want to consider maximising your savings into an ISA.
Consider a cash flow plan
This brings together all of your assets, income and expenditure in one place and acts like a personal balance sheet, helping with your wealth planning.
If there is an unequal division of income married couples or civil partners might want to consider equalising assets and/or maximising each person’s personal tax allowances.
Gifts to children
Different options are available when saving for children, you could consider a Junior ISA (which offers tax-free income and growth) or establish a pension for your children which provides immediate income tax relief on the contribution and tax-free income and growth for the future.
Family investment
Following the sale of a business, you may wish to consider establishing a Family Investment Company (FIC). A FIC is a private investment company whose shareholders are ordinarily family members. The company’s articles of association and memorandum are drafted to fit the needs of the family. The FIC offers certain tax advantages and can be used to pass wealth tax efficiently to the next generation whilst at the same time safeguarding family assets.
Invest in VCTs or an EIS
Venture Capital Trusts or Enterprise Investment Schemes can be of interest to those who pay higher or top rates of tax or who are restricted or not able to make pension contributions.
Lifetime gifts
Once you are comfortable that you have sufficient capital and income for your chosen lifestyle, consider outright gifts which can be effective for inheritance tax planning.