The Autumn Statement 2014

Jonathan Gain, CEO of tax efficient investment specialist, Stellar Asset Management said the Autumn Statement was most notable for what it omitted.

 

“A couple of weeks ago David Cameron was saying that he wanted to shoehorn into the Autumn Statement an increase in the nil-rate band on inheritance tax (IHT) – something his party have been promising for years now. The only people actually benefiting today from any change are emergency personnel, aidworkers dying in service and soldiers and emergency personnel who win medals for gallantry.

 

“There are easier ways to protect legacy assets from IHT and, given the continued failure to address this issue, the need to take action remains as important as ever.”

 

Gain added: “Some clients had been holding off instigating changes until after the Autumn Statement. Some are still holding off in the hope that something will happen if the Conservatives are voted back into power next year. History suggests that’s a mistake.

 

“Clients don’t have to commit to complex trust arrangements. There are plenty of strategies, including insured BPR, AIM IHT and EIS investing, that advisers and their clients should be considering. They’re not difficult to set up, clients don’t lose control of assets, and they can be reversed. There’s a big opportunity for many advisers to serve their clients well here, and, predictably, the Autumn Statement has done little to change that.”

 

 

CEO


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