Walker Crips, the Investment and Wealth Management group, would like the Treasury to provide more certainty to the taxation framework.

This year’s Budget comes weeks before a general election in which George Osborne may take the opportunity to keep voters happy with some pre-election giveaways.

David Hetherton, CEO, Walker Crips Wealth Management says:

“It would help both clients and financial advisers with planning if we knew the annual pension allowance would stay the same at £40,000 along with ISA and Inheritance Tax (IHT) limits. A period of stability would be welcome.

“However a greater £500k nil rate band for IHT per person would be helpful and George Osborne has hinted at raising the threshold. We currently feel the threshold limit is low especially as over the last few years our clients’ investment portfolios and property values have increased significantly. It feels unfair that people should work their entire lives building wealth only to have the Government take a large portion of  their estate upon passing down to relatives. We certainly welcome the upcoming new pension rules in this respect.

“As well as IHT limits, the annual pension allowance is a real target for our clients to aspire to and this should be fixed, at least for a 5 year period. There should not be any further reductions in the annual pension contribution limit of £40,000. We are advising clients today based on current limits, changing them would not assist planning matters.”

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