It has been another week of markets feeling on edge, without going anywhere. Markets seem to have caught a bit of worry about the passage of growth, oddly just as the wider populace gets more confident and the recent headwind of rising bond yields abated.
Next week will mark the anniversary of the turning point of the 2020 COVID stock market crash. Investors looking at their one-year portfolio returns may well be astonished to find double-digit return figures, ranging from around 15% for lower risk strategies to close to 50% for pure global equity portfolios.
Stock markets around the world have had another choppy week, but this time there was more up than down across the board and bonds yields stopped their upwards trend – at least for a while. The general upward trend notwithstanding, there was a lot of rotation and counter rotation between different market segments...
Rishi Sunak’s second Budget Statement was a hotly anticipated affair. After setting out the roadmap to navigate the COVID crisis, the Chancellor was able to mark down the route out of economic crisis. The pandemic has left a black hole in Britain’s public finances and, while vaccines and gently easing restrictions will help get things back on track, there is no doubt that the UK economy still needs a big helping hand from the Treasury.
While the Chancellor of the Exchequer Rishi Sunak, is looking to reduce the tax gap, there are nonetheless still opportunities to review your financial arrangements for saving tax throughout the tax year. Taking action now will give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions before the end of the 2020/21 tax year on 5 April.
Chancellor of the Exchequer, Rishi Sunak, delivered his second Budget on 3 March declaring that “we will recover”. The key fiscal event, which had been delayed from the Autumn due to the pandemic, centred on a £65bn three-part plan designed to continue supporting British people and businesses through the pandemic, ‘fix’ the public finances once recovery begins and lay the foundations for the future economy.
Tax never requires a one-size-fits-all approach. Each taxpayer and each year will be different. And with the end of the current 2020/21 tax year approaching on Monday 5 April 2021, now is the time to carry out a tax health check and implement any planning opportunities.