That was the question that attracted more than 100 clients of South East accountants Carpenter Box to a special personal finance seminar in Horsham.
Roy Thompson, Head of Financial Services at Carpenter Box Financial Advisers, outlined how ‘fiscal drag’ caused by the freeze on allowances for personal tax, inheritance tax and ISAs heightened the need to make the most of investment returns. Moreover, the proposed inheritance tax treatment on unused pension pots from April 2027 will make it more important than ever to adopt a family-based approach to personal finance and tax planning.
He outlined how the pension changes, as proposed by the Government, could significantly increase death duties, but then highlighted a number of current options, that would help mitigate the inheritance tax take.
Inheritance tax was a particularly thorny issue for family farms, said David Crowter, Partner & Head of Private Client Services at Carpenter Box.
“With business and agricultural property relief changing from 100% on certain qualifying assets to being restricted to 100% on the first £1m from 6th April 2026, many farming families are looking for answers. So, some of the things I have been suggesting to clients are that they review their Will to ensure it reflects their current wishes, take advice on gifting and valuation planning, and use life cover and pension drawings to reduce the amount to be paid in IHT.”
Henry Wilson, Partner, Senior Portfolio Manager at LGT Wealth Management, provided an overview of global financial markets, pointing out that while the global economy remains resilient, there will be investment opportunities. However, diversification and selectivity will be key in navigating the somewhat volatile and shifting economic and geopolitical landscape.
Photo (l-r) shows: Roy Thompson, Head of Financial Services at Carpenter Box Financial Advisers, Henry Wilson, Partner, Senior Portfolio Manager at LGT Wealth Management and David Crowter, Partner & Head of Private Client Services at Carpenter Box.
