The sporting glories of the summer provided a welcome distraction from the deep-seated problems of the global economy. But now attention is firmly focused back on the high levels of government and consumer debt, deflationary forces and large unsustainable fiscal deficits.
The lack of a political solution to the eurozone crisis is affecting economic confidence in other parts of the world. Added to all this uncertainty, the outcome of the US presidential election in November is likely to have global ramifications. The two contenders in the race for the White House have very different plans for the economy, so in this issue of Family wealth management we look at how the result might affect the world's markets.
In times like this caution prevails, with investors facing tough decisions. Many will be looking for quality stocks to provide some stability. We consider the characteristics of the new generation of 'nifty fifty' companies. This is a set of nimble companies with robust business models – global brands with sustainable growth that stand out from the rest of the pack.
For pension investors within ten years of retirement, this is a critical time to be looking at how funds are invested and to consider moving some assets to safeguard gains. We also remind readers to review their pensions regularly to make sure they avoid any potential tax traps.
The Government has introduced a new annual charge for high-value houses owned through companies. We consider the details of this measure, which is designed to deal with the perceived avoidance of stamp duty land tax.
Also in this issue, we look at the proposals for a legal definition of UK tax residence and at the attractions of the proposed changes to business investment relief, which would allow non-UK domiciled individuals to invest in UK businesses without triggering a tax charge.
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