“What does CGT review mean for investors?
The financial times has a story looking at the recent OTS report recommending raising Capital Gains Tax rates and cutting allowances. We have covered this in detail here.
“Dreaming of a rich retirement? £1m may not be enough”
The Times has a story about how the cap on pension saving could leave younger people with below-average income. When planning with our clients we do not advise them to stop saving when they have maxed out their pensions. We will, instead, encourage them to look at other places to put money such as ISAs.
“Why cashing in a pension pot as Covid bites should be a last resort”
The Guardian has a story about how cashing on a pension pot has become a quick fix for more over-55s. However, it can come at a high price in retirement.
We agree with this and we always explore every option with our clients. It should be viewed as a last resort