MHA Caves Wealth Quarterly – Summer 2024 Newsletter
Welcome to the latest edition of Caves Quarterly, where we review key market and financial news from the last few months, and look ahead to the future.
The main focus of the last quarter has been the raft of democratic elections that have taken place across the globe. The UK election delivered a landslide win for Labour, who, despite a relatively small share of the overall vote (c37%), now have a sizeable enough majority to deliver significant change. The early days of Kier Starmer’s premiership certainly indicate that the pace of change will be rapid.
Despite ruling out several tax rises during this term (income tax, national insurance and VAT are off the table for now), others such as inheritance tax, capital gains tax and pensions could well be in the firing line for a government hoping to increase spending on public services. Now more than ever, a review of your investment strategy and retirement planning could make financial sense. Our team of highly qualified advisers remain at your disposal.
As well as our usual quarterly investment review, in this edition we look at:
- The importance of saving for a rainy day
- Is it time to check in with HMRC?
- Be aware of the latest financial scams
- The cost of long-term sickness
- Changes to the way your profits are taxed if you are self-employed or in a partnership
- Election 2024 – what’s next?