As the countdown to the next general election continues, Brits have raised concerns about the impact a change in government could have on their investments.
Financial reviews, carried out by management company Saltus over the last 12 weeks, revealed 'economic uncertainty' is at the front of everyone's mind.
Financial reviews, carried out by management company Saltus over the last 12 weeks, revealed 'economic uncertainty' is at the front of everyone's mind Pensions provide you with tax relief on the way in, provide tax free growth and then on the way out , you get 25% tax free cash and the remaining 75% is always taxed at the marginal rate of income tax.
Your ISA allowance applies to the combined sum you put into all of your ISA accounts. Most people make use of a Cash ISA – a savings account that lets you earn tax-free interest on the money you save.Despite being a great way to build wealth, it's important to note ISAs are included inside your estate and so are subject to Inheritance Tax.A General Investment Account is an account which allows you to hold investments outside of tax wrappers , such as ISAs or pensions.
This allows you to use your Capital Gains Tax Allowance year-on-year and also use your Dividends Tax Allowance year-on-year. Megan Jenkins, a financial advisor at Saltus, said she has received a great deal of concern from clients regarding an increase in tax under a Labour government.
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