Image via Adobe Stock

The UK Autumn Budget: Are you ready for what is in store?

(Partner Content) The Autumn Budget this year will be interesting.


Image via Adobe Stock

If our government continue to believe that its expenditure has to be repaid, one consequence will be another period of austerity to reduce borrowings.

Tax increases may be on the cards, but more likely, we will see a mix of expenditure reductions and higher taxes.

Where this will leave our beleaguered clients does not give much confidence as they struggle with the demands of the COVID outbreak.

Add to the mix Brexit – looking increasingly like an exit with no EU trade agreement – and the ingredients for an extended recession are on the cards.

Getting the best support

In which case, how can we best support our clients?

There are business sectors that will thrive in the mix of recession, Brexit and COVID disruption, but not many.

For most clients, maintaining cashflow and net assets will be an achievement. Break-even strategies with enough in hand to meet capital and loan repayments will be the order of the day and this will not happen by osmosis. Advisers will need to advise; create and manage planning processes to help clients achieve these goals.

What is clear, is that we are approaching an unprecedented period of challenging disruption and one that none of us can afford to ignore. If there is a simple mantra that we should all adopt it is to be prepared. 

For more information or assistance, please contact Exceed.