It must have felt like a fairground in the offices of HM Treasury of late. After all, it’s not very often that we see a resignation from the Chancellor of the Exchequer – let alone one resigning before even delivering their first Budget statement. News of the departure of Sajid Javid and subsequent appointment of Rishi Sunak took many by surprise last month, but not our own Mike Wilson. Savvy readers might just remember reading Mike’s December column entitled ‘Twenty twenty vision’ in which he suggested that Mr Javid might well be out on his ear before Budget day. Please take a well-deserved bow Mr Wilson and reward yourself with an extra feather in your cap!
With the budget set to go ahead on 11th March, we can only wonder whether the Tory manifesto promises to reform entrepreneur’s relief will feature amongst the details. And what about Mr Javid’s much talked-about leaning towards restricting pension tax relief for higher earners to 20%? No doubt you will be taking all the necessary planning steps with individual clients who might be affected should he make the change. We must remember however that this is a strategy which typically gains much air play ahead of most annual Budgets. Whether Mr Sunak ultimately has the same commitment to it as his predecessor we will just have to wait and see.
THE BUSINESS OF FINANCIAL PLANNING
Whatever is ultimately announced in Chancellor Sunak’s Budget statement, the business of financial planning continues apace. In this month’s edition of IFA Magazine, we have plenty of insight and practical tips for greater business success. Whether it’s the power of paraplanning, the SM&CR, the challenge of PI renewal, the complexity of DC switching or getting to grips with succession planning, we hope you’ll find something of interest.
As if we needed reminding of the global climate emergency, the impact of Storms Ciara and Dennis has certainly left a trail of destruction in their wake across the UK. As our thoughts go out to all those affected, it reminds us that the importance of investing responsibly is becoming ever more a priority. As you will know, this is a subject on which we feel particularly strongly. This month, not only do we welcome the opinions and insight of experts from King and Shaxson, M&G Investments and Pictet – but we also extend a warm welcome to readers to come and join us at the IFA Magazine ESG Seminar events taking place around the UK this year. You’ll find more details inside and we really would love to see you there to join the debate and discussion on this crucial topic.