Breaking NEWS…….

Sajid Javid has resigned as Chanceller of the Exchequer with Rishi Sunak becoming the Chancellor of the Exchequer – all ahead of the Budget on 11 March.

Click the link to read the Breaking News in Investment Week:http://www.investmentweek.co.uk/4010655

Further read a BBC article in relation to why Sajid Javid has resigned:

https://www.bbc.co.uk/news/uk-politics-51491662

The current tax year, 2019/20, will have the first budget of a new parliament before the tax year has ended.

Previous post budget elections research suggests a trend towards higher taxes.  Will this budget be different following a very long period of austerity?

Throw Brexit into the mix and the picture is as clear as mud.

A prudent course of action would be to finalise TYE planning – investing, using all allowances before the new Chancellor gets to his feet on 11 March 2020.

We again provide a link to the previously communicated TYE (Tax Year End) countdown.

Click the link to read the detail: https://www.bestpricefs.co.uk/blog/tye-tax-year-end-countdown/

For business owners – profit extraction – extracting business profits tax efficently: Pension v Bonus v Dividend.  If this is a question you have – take action promptly.

Rumours

Annual Allowance

There have been various rumours about the Annual Allowance limits being improved … ??

Inheritance Tax – IHT

The now former Chancellor of the Exchequer – Sajid Javid – had hinted about making improvements to IHT.  Sajid Javid: “There is a ‘real issue’ with Inheritance Tax.

Click the link to read the article: https://www.bestpricefs.co.uk/blog/inheritance-tax-potential-for-change/

Use your Allowances or lose your Allowances

If you require advice – simply get in touch.

Warmest Wishes.

Richard and the Best Price FS Team