Top tips for tax and investments

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Do your tax affairs and investments need a make-over? Sussex and South East accountants Carpenter Box surveyed the post-Budget landscape at an Investment & Tax seminar in Horsham, offering practical tax saving tips and insights on wealth management.

David Crowter, Partner and Head of Private Client Services at Carpenter Box, outlined how ‘fiscal drag’ was increasing the tax burden, despite the recent NI cut, and suggested adopting a family approach to tax affairs to utilise available allowances, optimise efficiencies, build pension pots and shelter the value of estates.

Roy Thompson, Partner and Head of Carpenter Box Financial Advisers, said that while political uncertainty and inflation were weighing on confidence, the returns delivered by a balanced approach to investing in pensions, and utilising tax-free investments such as stocks and shares ISAs, has historically beaten money markets over the longer term.

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“While it’s not possible to ‘time the market’, history shows us that the earlier people can start investing their hard earned money, the better the outcome over the longer term, thanks to the effect of compound returns,” he said.

L-R Adam Burniston, Roy Thompson and David Crowter.L-R Adam Burniston, Roy Thompson and David Crowter.
L-R Adam Burniston, Roy Thompson and David Crowter.

Adam Burniston, from investment specialists LGT Wealth Management, provided an overview of global equity markets and opportunities, with a trend towards rebalancing towards Asia, emerging markets and pockets of value globally, due to high valuations associated with US technology companies. At the same time, bonds look set to become a more attractive asset class as interest rates start to ease.

Commented Roy: “It was good to see such a healthy number of attendees at our event and, hopefully, we gave some useful pointers to help businesses and individuals make the most of their hard earned wealth and available tax incentives, albeit in a somewhat volatile climate.”

Carpenter Box is an award-winning firm of chartered accountants, tax specialists, business advisers and independent financial advisers with a reputation for innovation and excellence. The practice, with a team of 240 people, continues to expand across the south and in London, helping businesses grow in a profitable, sustainable and tax-efficient way.