With Rachel Reeves facing a £41 billion fiscal gap, the question is no longer if taxes will rise in the UK, but how quickly and how sharply.
The Labour Party’s manifesto promised not to raise income tax on working people. This leaves scope for significant changes to capital gains tax, dividend income, inheritance thresholds, and wealth loopholes.
With the UK facing sluggish growth and out-of-control borrowing, the Labour Party has boxed itself in by making spending promises and strict fiscal rules. This means tax hikes or spending cuts, and both now seem inevitable. Economists are pressuring Starmer and Reeves to introduce a new wealth tax, which could bring in tens of billions of pounds.
“This is the moment for anyone with UK assets to stop waiting and start acting. The Treasury can be expected to go after capital, property, investment income — because that’s where the money is. Wealth holders face “real, very targeted moves” on “portfolios, pensions, business assets and property”. – Nigel Green deVere, CEO.
It’s essential that people with UK assets have them reviewed to explore options for reducing tax. When governments feel cornered, they tend to move quickly. Any tax changes announced in the Autumn Statement could come into force quickly. The people who protect their wealth are the ones who plan early and are already asking the right questions — reviewing asset locations, rebalancing portfolios, exploring cross-border options, and examining trusts and succession plans.
Those who take action before the Autumn Budget will be in the strongest position to “manage, mitigate and ultimately grow their wealth under new conditions.
Space investing is now a thing. Firefly Aerospace has listed on the Nasdaq. The Northrop Grumman-backed aerospace company surged on the stock market during its debut. This comes after they successfully landed on the moon with their Blue Ghost lander.
Karman Holdings, maker of defence and space systems, went public earlier this year with a valuation of $4 billion, while Voyager Technologies was valued at $3.4 billion two months ago and opened 125% higher on Wednesday.
It might seem like a small step for aerospace companies, but it is a giant leap for the space sector as it enters the world of the stock exchange.
Please note, the above is for educational purposes only and does not constitute advice. You should always contact your adviser for a personal consultation.
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