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
UK Conservatives scrap plan to raise IHT threshold
Inheritance tax: how to cut your bill as new coalition abandons …

Long Term Care

Fight over care home bills may cost NHS
Rules for Challenging Care Home Funding Decisions Set To Change
Care home needs to attract self funded residents


The population equation
Con-Dem coalition to scrap compulsory annuities; targets public …


BT’s return to profit boosts FTSE
Cautious Managed tops Cofunds sales in April

Have a great weekend!



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