Nick McBreen, a Cornwall-based IFA with Worldwide Financial Planning, said he would like to see “some common sense for the man on the street”, urging the UK government to introduce a fairer rate of tax.
“Stop tinkering round the edges and stop dis-incentivising people from funding pensions, which just doesn’t make any sense to me,” he warned.
‘Neutral budget’
However, Steve Kevan, managing director of the newly-formed international unit of discretionary fund manager Rowan Dartington, said he’s expecting a “neutral budget” with very little tax changes, spurred on by the uncertainty around Brexit.
“There’s almost a period of do nothing. I don’t think we’ll see a great deal in the budget this time round,” he revealed.
Kevan, who prior to his role at Rowan Dartington spent five years working in Mauritius, which applies a flat rate tax of 15%, supports the UK introducing a similar system.
“[The flat rate] has worked very well as when it was introduced tax revenues went up. No one tries to hide assets because they’re quite willing to pay the 15%,” he added.
