The situation in Ukraine is clearly tragic. When it comes to our personal finances, geopolitical uncertainty is also unsettling. However, while you might be worried about investing in equity markets at present, we can’t advocate strongly enough the importance of remaining invested and considering your investment and tax planning strategies now, especially with the end of the tax year fast approaching.
In fact, this is the very time that consistency in your strategic investment approach, and taking advice to consider the end of tax year opportunities, should be your primary focus.
Stay calm, keep focused and carry on
While the evolving situation in Ukraine is having a short-term impact on markets, it’s important to be clear – your financial plan should always be focused on long-term strategic decisions.
It’s time to consider your pension, Individual Savings Accounts (ISAs) and Junior ISAs, Inheritance Tax (IHT) planning, Capital Gains Tax (CGT), VCTs and EISs.
And of course, another option is to add cash now to benefit from tax efficiencies, with a view to deploying it at a later date when opportunities present.
The bottom line
Although these may feel like uncertain times, in essence the key messages are – keep invested, there are still plenty of investment opportunities, engage with your end of tax year plan now to take advantage of annual allowances and tax breaks for 2021-22, and to make sure your financial affairs are in order as we head into the 2022-23 tax year.
For financial advice from a Chartered, Independent, fee-based financial advisory firm, contact Fleet Street Wealth, a Chartered independent firm.
Find out more
To find out more call 020 7353 6373 or email financialadvice@fswealth.co.uk or visit www.fswealth.co.uk. The initial consultation is free and without obligation.
Act now
Download a free copy of our 2021-22 end of tax year guide which highlights your main tax planning opportunities for the 2021–22 tax year.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.