How to plan your finances ahead of the budget

The Autumn Budget is in just over 2 weeks and there has been a lot of speculation over what tax rises might be in it

From a wealth tax, to property taxes, to income tax, if you read the news it feels like every tax is coming for you after the budget

I myself have been concerned by some of the reports and how they would impact my and my family’s finances

But the truth is that financial decisions should rarely be made based on speculation

Take the previous budget where it was touted that the 25% tax free pension withdrawal might be removed

£70.9 billion (with a B) was withdrawn from pensions purely from speculation
BUT nothing changed

Investments that could have been left to grow for longer were denied that opportunity

So your One Simple Step this week is to

Not make financial decisions based on  speculation

The best financial decisions are usually reactions to reality, based in legislation

I have made a YouTube video on how to plan your personal finances ahead of the budget which contains even more information.

I have also made a guide to mastering UK taxes which teaches you how to optimise your taxes based on existing legislation
Because the best way to plan your personal finances is by grounding it in current policy
Not risking it on speculation

To improving our personal finances,
Pernia | Your Finance Travel Buddy

P.S. I am most concerned about taxes that will erode the wealth I am working hard to build. Which tax are you most concerned about rising? Let me know in the poll below 👇🏻