Value of tax incentives on people’s savings and investments grow to a record high of £27.1bn

Gill Millen, Managing Director quoted in IFA Magazine 3rd September 2022

Investors need to maximise the tax incentives available to them every year, particularly as these incentives can be cut at short notice. The Government is looking to plug the gap in its finances following the pandemic and may see reducing tax breaks as an area where more money can be brought in.“Making the most of the tax reliefs available is a very powerful way to make your savings and investments work harder.”“The consistent chipping away at tax reliefs undermines the attractiveness of saving and investing. It risks deterring individuals from saving enough for their retirement, which could have a detrimental long-term impact on their finances.”

“Any decision by individuals on where to save or invest should be made with careful consideration. Tax reliefs are a great way to maximise savings, but they should be secondary to an individuals’ overall saving or investment strategy.”

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