Welcome to our March/April Smart Money. Here is an overview of what’s included in this edition.

As we approach the end of the current tax year on 5th April 2024, it could be an opportune moment for employees to examine both their personal and business finances to help make sure they are structured to optimise tax efficiency. Despite the ongoing freeze on many tax rates and thresholds, numerous strategies remain for efficiently organising financial matters. Read the full article on page 08 to find out more.

Inheritance Tax (IHT) is now becoming an issue for many ordinary families who may find themselves handing over an unprecedented portion of their estates. The Office for Budget Responsibility anticipates that IHT will bring in £7.2 billion in the fiscal year 2023/24. Read the article on page 06 for more information.

On page 05, we consider the ever-evolving landscape of investment and why it might appear daunting. Market conditions are like shifting sands, unpredictable and often beyond control. They can be impacted by many factors, such as political events, economic indicators, corporate earnings reports and even natural disasters. Take a look at the article to find out more.

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A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age).

The value of your investments (and any income from them) can go down as well as up, which would have an impact on the level of pension benefits available.

Your pension income could also be affected by the interest rates at the time you take your benefits.

The Financial Conduct Authority doesn’t regulate trust planning and most forms of inheritance tax (IHT) planning.

Some IHT planning solutions put your money at risk, and you may get back less than you invested. IHT thresholds depend on individual circumstances and the law. tax and IHT rules may change in the future.

The tax treatment is dependent on individual circumstances and may be subject to change in future.