Bonus episode: The big Budget pension and investing questions answered

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 6 November 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this special bonus episode of the This is Money Podcast, Rob Morgan, chief analyst at Charles Stanley Direct, joins Simon Lambert to answer the big questions that have emerged from last week's Budget.

On this podcast, Simon and Rob cover among other things.

Pensions and inheritance tax: Who will be caught out
What can investors do – should they spend their pensions before other savings?
What has happened with capital gains tax - and who will it catch?
What are the best ways to keep a CGT bill down?
How can savers and investors beat the frozen threshold stealth tax?
What are the financial planning basics people should make sure they get right?

Transcript

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0:00.0	Welcome to a special bonus episode of This Is Money podcast. I'm Simon Lambert, This Is Money,
0:06.8	and I'm joined today by Rob Morgan of Charles Stanley Direct. The dust is settled on the budget,
0:12.3	but the questions keep on coming. And we have had lots and lots of questions from podcast listeners
0:18.3	and This is Money readers about what the budget means for them.
0:21.9	The good news is that on this special episode, I have Rob here to help explain it.
0:27.3	Rob, welcome to the podcast.
0:30.2	Thank you, Simon. Good to be here.
0:32.6	So one week on, what are your thoughts on the budget? What's the verdict?
0:38.3	Yeah, well, I think, well, there were lots of rumours swirling about all sorts of things
0:46.3	in the budget, how they might change pension rules, how they might change ICE's, inheritance tax, capital gains tax.
0:55.0	We got some of them. We didn't get all of them by a long stretch.
1:01.0	So what changed, I don't think, will be positive for anybody in the main.
1:10.0	But what didn't change in terms of personal finances, there were probably
1:16.7	some wins there. So, yeah, overall, there's a sense that, you know, there weren't many sort of
1:23.2	nice rabbits pulled out of hats, but that there's relief in some quarters that things
1:30.3	weren't changed.
1:31.3	I mean, one positive for me, I think, was that pensions, apart from one big exception, were
1:36.3	kind of left alone.
1:38.3	There weren't any changes to the pension tax-free cash amount that you can take or on pension tax relief.
1:45.0	So I'm glad of that with a review of the pension landscape coming down the tracks.
1:52.0	I think that's right and appropriate that that was primarily left alone.
1:56.0	But yeah, as I say, there was one big sort of bombshell on the inheritance tax front.
	...

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