Commenting on the UK general election result and its impact on financial planning, Andy Zanelli, senior technical consultant at Ascentric, said:
“The unexpected election result could lead to a significant rethink of any changes to tax and National Insurance the Conservatives may have had ready for a Budget later this year. The initially predicted landslide victory could have ‘unshackled’ a Chancellor looking to possibly reinstate many of the measures dropped from the recent Finance Act.
A rethink of the approach to the looming Brexit negotiations may mean we may see another benign Budget as far as tax planning goes in the autumn. The Chancellor may find they are now ‘hobbled’ by the uncertainty of a slim majority, Brexit and leadership issues.
In the run up to most elections there can be a hiatus in planning as advisers and their clients wait to see who wins. However they cannot wait for too long. Clients need to get good quality advice and take action based on what we know today, not wait for the possibilities that tomorrow may bring.”
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About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.
Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on its reputation as a leading UK fund supermarket to provide Financial Advisers with a Wrap platform under the brand name of Ascentric. It provides a full white label solution for institutional clients requiring bespoke technology and administrative services.
Ascentric is a Wrap platform, available exclusively to financial advisers and offers a fully integrated online investment management and dealing platform. It also enables advisers to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.