Protecting your UK assets from a Labour government: Merryn Somerset Webb

Protecting your UK assets from a Labour government: Merryn Somerset Webb

With polls predicting a Labour win in six weeks, it's crucial to consider the impact on your finances.
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With polls predicting a Labour win in six weeks, it's crucial to consider the impact on your finances. Expect changes to pensions, including possible caps on tax-free withdrawals and inheritance tax. Capital gains taxes may rise, and new regulations could affect rental income and school fees. To mitigate these, consult financial advisors, prepay expenses, and consider accelerating investments and sales. Alternatively, embrace higher taxes for better public services.

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By Merryn Somerset Webb

 If the polls are even vaguely correct, Britons will vote for change in six weeks. The UK will have a Labour government a few months sooner than most commentators expected (although the exact date was predicted on the Merryn Talks Money podcast a month ago.) With that in mind, it's worth asking what that might mean for your money —and if there is anything you can do in advance of an onslaught of new policy.

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