Rishi sets out his “Winter Economic Plan” – What is yours?

30th September 2020 Wills, Trusts & Estate Planning

As Rishi Sunak set out on Thursday the government’s “Winter Economic Plan”, it has presented the opportunity for individuals to do some economic planning of their own, with the highly anticipated tax increases set to be delayed once more. With that in mind, now appears to be the perfect time to act for those who wish to avoid the huge implications that could follow next year, and to get their affairs in order in the most tax efficient way.

Whether you are in the process of buying or selling property, involved in the sale of a business, looking to invest or cash in on your shares portfolio, or simply want a better understanding of estate planning in general, seeking the advice of an expert could not be more important. JMW’s Private Client team has extensive knowledge in all areas of estate planning, providing advice on Inheritance Tax, Capital Gains Tax and Income Tax, as well as the various reliefs available to UK taxpayers, all of which could change dramatically over the coming months.

We could not be living in a more uncertain time when it comes to our finances, and we urge anyone looking to plan for the future, to do so now. As we have seen over the last 6 months, the government will not shy away from making instant decisions, regardless of its impact. We cannot therefore be sure how much longer they will wait before the inevitable tax rise comes to burden the UK taxpayer to help pay for the overwhelming cost that Covid-19 has had on the economy.

If you would like to discuss this article further and/or your own estate planning requirements, for an initial free consultation then please get in touch with us on 0345 827 666 or through our online enquiry form.

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Alex Streeter is a Trainee Solicitor located in Manchesterin our Trainee Solicitors department

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