Posted by: WealthIFA | May 13, 2010

Financial News Update we 14/05/2010

Hope you have had a good week?

So, as we come to terms with our new Con-Dem party coalition – the first involving the Lib Dems since the 1920’s – we can now look forward to how they are going to tackle the current debt in the UK… the same debt of £167bn, by the way, that I read recently was the equivalent of spending £225,000 per day, each year, since before Christ… no I didn’t think it was true either but it does calculate.

So how are they proposing to do this?…

Well, we have already seen the scrapping of the raising the Nil Rate Band to £1m within this parliament at least, and now the announcement of the rate of Capital Gains Tax being increased (to be more in line with Income Tax)… wait, is that noise a stampede of people trying to sell their shares, their second properties, their grannies – anything they can in order to suffer tax at just 18% while they can?!!

Oh well, I am sure it will all be ok in the end…

Back to the updates for this week and some useful reminders here, for example, of the simple steps one can take to reduce the burden of IHT and, certainly in the case of the first article, another reason to opt for advice rather than DIY…

Estate Planning

Life cover in trust could reduce tax bills http://ow.ly/17iH1P
UK Conservatives scrap plan to raise IHT threshold http://ow.ly/17lhKS
Inheritance tax: how to cut your bill as new coalition abandons … http://ow.ly/17lQAG

Long Term Care

Fight over care home bills may cost NHS http://ow.ly/17jXm8
Rules for Challenging Care Home Funding Decisions Set To Change http://ow.ly/17ldrG
Care home needs to attract self funded residents http://ow.ly/17lEGZ

Retirement

The population equation http://ow.ly/17k5F8
Con-Dem coalition to scrap compulsory annuities; targets public … http://ow.ly/17mjrR

Investments

BT’s return to profit boosts FTSE http://bit.ly/9SH8Nt
Cautious Managed tops Cofunds sales in April http://bit.ly/d1rkgs

Have a great weekend!

Regards
Kieron

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