Spending the calm studying the storm

If there is a presiding theme for 2018, and forthcoming changes to the country’s finances, then it is uncertainty. The Brexit negotiations have been taken over by a new minister and we are yet to get any kind of clarity on what a potential deal could look like. Meanwhile, whilst there are positive signs in the economy, in his forthcoming Budget the Chancellor still must toe the line between slow growth and inflation, persistently low interest rates, and exactly how he will find more money for the NHS. One thing seems clear: it is impossible to accurately predict what will happen next.

Yet that is exactly what is happening across the country, as the newspapers, professional bodies, think tanks and more all offer their thoughts on what could, or should, happen next. Government consultations have helped focus our attention on major topics such as inheritance tax – where the complex system could certainly benefit from an overhaul. But the truth is tax increases will be unpopular, so some people are also looking at valuable factors such as pension tax relief. Both these things cost the government significant amounts every year and could offer alternative ways of raising revenue.

Ahead of all that speculation, however, the Autumn edition of our newsletter is now out. This time our feature article is ‘Financing a child’s future’ which takes a look at the ongoing costs of raising and educating a child. With everything from university to helping them find their first home requiring money, proper planning can help you offer your child the best you can.
Our other stories include:

• Caught by the pension tax trap?
• Illuminating fund fees
• The ins and outs of market indices
• Thinking of making lifetime gifts?

Our next update will come just after the Budget, when we’ll have a clear idea of the forthcoming changes affecting your financial planning. In the meantime, if you have any questions arising from anything of our articles, just get in touch.