Inheritance Tax mitigation
The wealthy have no time to lose in planning their IHT mitigation
The recent announcement that Inheritance Tax (IHT) mitigation via transfers into trust is likely, in future, to be included in the Disclosure of Tax Avoidance Schemes (Dotas) regime is not good news.
Inflation falls but is still above target
The cost of Transport fall, but prices for food rise as inflation drops to 3.1%, but is still well over above the 2% target. Inflation dropped down in July, but remains far above the government target imposed on Bank of England.
This week saw consumer confidence drop to its lowest level for 15 months, it also saw the pound falling against the US Dollar as investors became nervous about the state of the world economy.Consumers are perhaps worried about the level of disposable income they will have over the months ahead and the emergency budget and inflationary pressures such as rising food and petrol costs are adding to this worry.
How long till the economic outlook will be considered “normal”?
Bank of England governor Mervyn King believes it will be a long time before the economic outlook will be considered “normal”. Wider economic problems around the world underline the fact that we cannot be confident that the recovery in demand, output and employment in the UK will be sustained. The fiscal tightening measures proposed by the Government will not choke off recovery, but it will slow economic growth over the next two years.