Those hoping for a major overhaul of the pension regime may need to wait for a future budget.
Unfortunately, by the time a major tax change is announced, it is often too late to take action. Equally, though, it is risky to make planning decisions ahead of time based purely on speculation.
Many savers with investment profits are considering whether or not to sell before the budget, in order to ensure that any capital gains tax is paid at the current rate.
If it is an investor’s intention to take these profits and reinvest them into other assets, it could very well be a worthwhile course of action.
However, if they would otherwise have no real desire to sell, then it may not be sensible to create a tax liability at this point, when by continuing to hold the asset, no tax would be payable for some time.
Christine Ross is client director and head of private office - north, for Handelsbanken Wealth & Asset Management