Reaction to Chancellors Autumn Statement
Bearing in mind the current economic backdrop and the need for the Chancellor to balance the books, there should be no surprises that this report didn’t contain a huge raft of giveaways, however despite this there were still some interesting features and a few surprises too. The freeze in capital gains tax allowances means that for investments tax wrapper selection becomes more important than ever and the increase in State Retirement Age being brought forward by 8 years means the retirement plans of many will need to be reviewed. The removal of the stamp duty freeze for first time buyers will do the mortgage market no good but the introduction of the SEIS as a new investment structure does look interesting for those with a more adventurous attitude to risk. All of this means that the need for financial advice has never been more apparent and now is the time to book a meeting with your financial planner.