Inheritance Tax  

How to stay one step ahead through efficient tax planning

Paul Dovey

Paul Dovey

This new initiative may not be called a 'wealth tax' but positioned as an NHS surcharge, which would apply to all income tax and CGT, say at a rate of 1 to 1.5 per cent, and it may be tapered so that clients with higher incomes or wealth pay a higher percentage.

Given the immense government spending of the last year, it is extremely likely that the chancellor will target tax as a means to cover the costs of borrowings. But before these changes are made, financial advisers must proactively engage with their clients to help prevent the risk of them losing out.

Paul Dovey is director of private client sales at Radiant Financial Group