As GBI & IFA Magazine’s weekly question series polls power ahead, our most recent question series for our audience focused once again on a diverse range of influential topics being widely discussed within the financial services industry. Our most recent poll highlighted a number of questions that have been dominating conversations in recent weeks, we aimed to find out some of our readers views on whether they believe that the new labour government will make changes to tax-efficient investments, whether they will remove current tax-advantages from VCT, EIS, AIM etc entirely, the best way to use tax-free allowances in the uk, and lastly which tax-efficient investments are believed to be the most beneficial for clients within the UK. The results of the questions have since been revealed and are listed below!
1) Do you think the new Labour government will make some changes to tax-efficient investments?
When asked if they believe that the new labour government will make any changes to tax-efficient investments, every participant voted that they believe the current policies will remain the same, with 0% voting that they believe new changes will be announced. No considerable changes have been formally announced to be implemented as of yet, but as the new government has not held the keys to number 10 for a lengthy amount of time, it is yet to be set in stone if changes may come in the future.
2) Do you think the new Labour government will look to remove the tax advantages from VCT,EIS,AIM etc entirely?
Much like the outlook on the first question in regards to making any major changes, the majority of participant’s (80% to be precise) voted that they believe that Starmer’s labour will not remove any advantages from VCT, EIS, and AIM. Whilst the majority believe this, 20% of participants believe that some advantages will in fact be removed, but not all. 0% of participants made it clear that they do not currently believe that all advantages will be removed entirely.
3) What’s the best way to use tax-free allowances in the UK?
It can be determined from the results of this question that participants believe that the best way to make use of tax-free allowances within the UK is by maxing out an ISA allowance, and contributing to a SIPP with a final vote of 50% being equally reached on both of these options. 0% of participants opted for the remaining options of using capital gains and tax all, along with using the divided allowance.
4) Which tax-efficient investment do you think is most beneficial for you/your clients within the UK?
The final question in our series this week focused on gaining insight into what tax-efficient investment do our participants believe is the most beneficial for themselves/or their clients within the UK. The results gained are far more varied, with the larger majority of 50% preferring SIPP’s, and a remaining equal percentage of 25% each option for EIS and VCT’s.
As always, we would like to say a huge thank you to each and every one of our readers and followers who got involved with our most recent question series poll, we highly value being able to gain insight into our readers views and thoughts on many of the factors influencing our industry, so be sure to keep an eye out on our GBI Magazine, and IFA Magazine Twitter accounts next week for our next industry questions of focus!
