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IFAs Discuss Budget Expectations

We ask IFAs what they would like to see from the Chancellors budget today. Here are some of their thoughts –

Peter Chadborn, Chadborn Baker & Kearle says: “I would like to see the threshold for stamp duty to at least double to assist first time buyers and a decent increase in capital gains tax threshold to maintain growth in the buy to let market. I would like a considerable increase in IHT threshold to bring it in line with house price rises. Overall, some measures to inspire small businesses and generate enthusiasm and enterprise in the British industry. But I expect to see nothing of any significance. A safe but boring budget with a few insignificant concessions in the lead-up to the general election.”

Christie Scotts director Julie Scott says: “I would like to see the inheritance tax threshold increased in line with house prices. Id love to see cuts to income tax and better tax relief on school fees and better tax breaks for working families, but thats not going to happen. Id like to see no change of the 5 per cent rule on investment bonds, but well wait and see what happens there. Overall, tax breaks for working families, and increasing the IHT threshold these are the two areas that would be helpful to our clients.”

Hargreaves Lansdown senior analyst Meera Patel says: “Id like to see the Chancellor encouraging long term savings and promoting pensions in a positive light. If the Government can put money into big advertising campaigns about smoking and drink driving, which are all negative things, Id like to see them being a bit more positive about the future and peoples lives. Id also like public finances to be put in better shape, with more encouragement for the private sector. The government also employs too many civil servants who sit around doing not very much, getting marvellous pensions and nice fat pay.”

Goss & Co managing director Michael Heard says: “I think it will be a quiet Budget for financial advisers and I certainly hope so as we have enough on our plate at the moment. I hope they will raise the threshold limit on stamp duty and I think there is a good chance of this happening as an incentive to first time buyers. I would also like the inheritance tax threshold to be raised although there is less chance of this happening as this Government does not seem interested in protecting inherited wealth. I cant see much being said on pensions as we have a platform for pension simplification already in place and we are awaiting the Turner report. “

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