Joe 90;261700 wrote:
I suspect a future Labour administration will either leave things alone, or if they do reimpose a new LTA, it will be higher (say £2m). Otherwise, they'll be accused of bashing the doctors.
By coincidence, the CGT relief is due to be reduced to £3,000 in the next 2 years. Accordingly, it makes sense to shift my low growth assets into my wife's account and hold high growth assets in my SIPP.
Clearly there is a fair bit of guesswork and speculation involved with all this. It's perhaps more a shift in emphasis than anything else.
Anyone else thinking along the same lines?
As it stands, Labour are "pledging" to simply reinstate lifetime allowance (no nuance). Between them, Con and Lab have now created a once in a lifetime 18-month window of opportunity for NHS doctors (and other over-50's with itchy feet) with large pension pots to crystallise their pensions without being screwed by LTA taxes. Well done to both parties.
Although I can imagine Labour delaying / altering this pledge when in power, the "damage" is being done right now (well, from next month anyway).