Preparing Your Finances Ahead of Budget Announcements
Budget season is an excellent reminder to take stock of your finances. Whether you are reviewing your personal finances, planning for retirement, or running a local business, preparing ahead of Budget announcements ensures that you are ready for any changes that might come.
Review your position
Start with a clear picture of where you are today. Review your income, savings, investments, and any outstanding borrowings. For many families across the Cotswolds, this exercise provides the foundation for making informed decisions about education costs, mortgage planning and long-term savings plans.
For business owners in Burford and beyond, reviewing profitability, cash flow, and existing tax arrangements ahead of Budget Day can highlight opportunities for efficiency, growth, and resilience.
Consider your tax planning
Budgets often bring adjustments to tax rates, thresholds, allowances and reliefs. Even small changes can have a noticeable effect, particularly if you make regular pension contributions, investments, or have estate planning arrangements in place. Some allowances, such as ISAs or pension contributions, operate on a tax year basis, so reviewing these ahead of the Budget can help you take advantage of existing opportunities before any potential changes are announced. For those with investments outside tax-efficient wrappers, reviewing capital gains and dividend income ahead of Budget Day can help manage potential tax exposure.
Business owners might also wish to review their remuneration strategy, including dividends, salary and pension contributions, particularly if any changes to corporation tax or National Insurance are expected.
Reviewing your current strategy with a professional adviser can help ensure that your strategy remains tax-efficient and aligned with your objectives.
Keep long-term goals in view
It can be easy to focus on short-term policy changes, but it’s important not to lose sight of the bigger picture. Whether you are building wealth for the future or protecting what you have already achieved, clarity and consistency are key. Regular reviews with a trusted adviser can ensure that you stay on course to reach your goals and can adapt as circumstances evolve.
Local support when it matters
At Courtney Jones Financial Services, we work closely with individuals, families, and business owners across Burford and the wider Cotswolds to help them prepare for the future with confidence. Whatever the outcome of any Budget, thoughtful preparation today helps create stability and opportunity for tomorrow.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.
