Nov 07 2024 68 mins
Perennial Assembly favourite, Les Cameron of M&G Wealth, joined us to share his thoughts on Labour’s Budget on 30 October.
As well as the fact that Rachel Reeves made history by becoming the first woman to deliver a budget as Chancellor of the Exchequer, were there measures that are sure to feature when Budget history is written?
Or were the widespread jitters among savers and investors ill-founded as Labour delivered its first Budget since Alistair Darling’s on 20 April 2010 – no fewer than 5,334 days earlier.
What actually happened?
Were the headlines screaming about capital gains and inheritance tax? How about pension tax relief and fuel duty? Or national insurance and the British ISA? Perhaps even VAT on school fees or measures affecting non-doms? And what about a wealth tax?
Les was on hand to offer his thoughts and insights, and address lots of questions and comments posted by paraplanners in the Chat.
So did it turn out to be one of the most consequential Budgets of recent years? Was it more of a ‘pitch-rolling’ statement in preparation for future measures? Or something else altogether?
Tune in and find out.
Useful links
Once you’ve listened to the podcast, take the quiz at M&G Wealth’s site to receive a certificate for your CPD records:
Take the quiz at M&G Wealth’s episode site
If you'd like, you can watch the Replay on Crowdcast (includes the Chat) or view the video recording on Vimeo too.
Other useful downloads mentioned during this Assembly include:
M&G tool for extracting company profits
M&G Tax Wrapper Comparison Tool
Les also mentioned HMRC’s Technical consultation - inheritance tax on pensions. That link will take you straight to seven worked examples in Annex 6.
In addition, Les mentioned M&G Wealth’s Adviser guide: Financial Planning with small and medium-sized enterprises (opens a PDF) and briefly referred to last August’s online Assembly on Investing for business these days
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