The traditional early September think piece centres on the natural reset that a generalised return to work (and for the younger generation, school) brings after the typically languid summer holiday period. As 2020 is clearly a very different style of year, let us rip up the normal script and ask the simpler question of ‘does the world feel lucky?’
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Inflation is always a big concern when managing money for our clients. The impact of higher or lower inflation on different assets classes can be significant, so it is always a data point we pay close attention to.
The impact of the Coronavirus has dampened inflation expectations as demand has been significantly reduced by global lockdowns. However, monetary and fiscal stimulus in response to the global pandemic has been unprecedented, so does this present an impending inflation problem?
Andy Butcher spoke to Will Robins of the New Model Adviser on the topic of inflation, noting that while the short term outlook may be for lower inflation, as we look further out we need to be wary of its return.
The article can be accessed here.
If you would like to speak to us about our investment strategy, please do not hesitate to contact us.
Financial markets are always a three-dimensional jigsaw, with new pieces being added and deleted at whim every business day. But the signals from the last month have been especially difficult to discern. In contrast to the bounce back second quarter, July was a negative month for pan-European markets with the U.K. continuing to lag.
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The number of people paying inheritance tax (IHT) has fallen for the first time since 2009. The tax generated £5.2b in 2019/20, down from £5.4b in 2018/19. One possible reason for the reduction is the introduction of the residential nil rate band which allows families to pass on up to £1m of their estate tax free.
IHT remains a complex area, one which we believe with sensible planning can be significantly reduced.
Andy Butcher spoke to The Telegraph on the latest figures from HMRC. The article can be accessed here.
If you would like to discuss your IHT position and options to reduce your liability, please do not hesitate to contact us.
Please note that you are required to register with the Telegraph for free in order to read the full article. We are not affiliated with The Telegraph and the views and information expressed on their website are their own
We maintain our belief in the ‘American Dream’ as described by James Truslow Adams, that “life should be better and richer and fuller for everyone, with opportunity for each according to
ability or achievement,” regardless of social class or circumstances of birth. We not only acknowledge but embrace that we have work to do as a society, and hope that this year will serve as an inflection point as we advance toward a stronger and more united world.
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As an office, each year we look forward with a mix of excitement and apprehension to the Citywire 10k Charity run. Countless hours of training are required (so we’re told), so needless to say the threat of cancellation amid the Coronavirus pandemic was most unwelcome. Thankfully, to ensure the charities did not lose out, Citywire pulled out all the stops and took the run virtual!
Unfortunately, a virtual run still means we had to run. Ed, Andy and Stuart competed in the virtual 10k race, running round various streets in North London and Essex, while Latrena, having recently given birth to her daughter Mabel, competed in the 5k race around the roads of Beckenham. We all finished safely, and while we didn’t threaten the winners, we all beat our personal targets. As a team, we are delighted to have raised just over £2,000 for two great charities, St Francis Hospice and Neuroblastoma UK. Overall, Citywire raised over £25,000 through the race, which during these tough times is fantastic news for the two charities.
If you would like to donate to these great causes, the fundraising remains open here.
At any other time, a three percent bounce during May in the pan- European (including the U.K.) equity markets and the driest fifth month of the year in large swathes of the country since 1929, would represent an ideal entry into the summer months. However – despite recent lockdown liberalisations – these are far from normal times.
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Over three hundred and fifty years ago, back in 1665, Isaac Newton socially distanced himself from the horrors of the then rampant bubonic plague and – away from his burgeoning academic career at Trinity College in Cambridge – enjoyed a ‘year of wonders’ at his childhood home. During this period he formulated a theory of universal gravitation, explored optics and discovered differential and integral calculus.
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The COVID-19 outbreak has led to unprecedented volatility and tremendous declines in wealth, but we have faith that once the pandemic is defeated, the wild swings in the financial markets will abate and prosperity will return. But what cannot be so easily recovered is the loss of a job, the loss of a business, or, worst of all, the loss of a loved one. While it is our duty to provide timely market insights, please know that now, more than ever, the health and safety of you and your families is at the forefront of our minds.
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Inheritance Tax is often described as a voluntary tax as there are many ways we can mitigate its impact. One instrument that is available to all, but often overlooked, is the Deed of Variation. Ed Froggatt discussed this option with his client, Peter, who went ahead and amended his fathers will in order to potentially save his estate up to £400,000 of inheritance tax on his death.
The Telegraph ran a feature on the advice, which can be accessed here.
If you would like to discuss your IHT position and options to reduce your liability, please do not hesitate to contact us.
Please note that you are required to register with the Telegraph for free in order to read the full article. We are not affiliated with The Telegraph and the views and information expressed on their website are their own.