And when looking at tax efficient investment don't forget trustees.
The Chancellor has announced no changes in the basic taxation of trustees apart from an increase in the trustee annual exemption to £3,750. It should be borne in mind that this CGT exemption is in general diluted by the number of trusts created by the same settlor since 1978. Where available trustees should invest in such a way to maximise the use of the annual CGT exemption and growth orientated collective investment funds may be useful in such circumstances.
On a broader front, it is undoubtedly the case that capital investment bonds as a trustee investment continue to be a profitable area of new business. The attractiveness of bonds in such planning has increased because of two significant changes; one in the area of trust law and the other in the area of tax law.