What financial steps are you taking to hedge the risk of a Burham Budget?

[Toohotforwork]

With all the financial uncertainty at the moment what are you doing to prepare/de risk Burham's actions?

We were in a chain to move house but have pulled since we don't really need to move. If the wealth tax came in the new house would be a silly choice and if stamp duty changes we might be better going somewhere else.

I think CGT will increase so we have trimmed our share portfolio a bit. We crystalized some gains and rebased them to current valuations.

We have taken cash that was sitting in the business out to protect from dividend increases. We'll decide where to invest it once we have a bit more clarity on what is going to happen. If interest rates increase will pay down the debt on our rental for example.

What have you been doing to hedge your finances?

Thank you x

Presumably, as it’s his Big Idea, the property/land value tax will be devolved so the rates and levels will be different depending on where you live. For instance in a wealthy area where land/property is expensive, you might not be in the top bracket if you own a £400k home. But if you live somewhere where a £400k home puts you in the most expensive house in the area, then you’ll be in a higher bracket. It will lead to Greater London (and some other cities) getting much richer and deprived areas getting poorer, unless there is an arrangement that bypasses the devolved authorities and forces richer areas to transfer wealth to poorer areas. (Which would stop anyone in a city ever voting Labour again.)

Devolution in a country our size (I mean, England - devolving power to other nations in the UK is a bit different) is just creating a postcode lottery.

Actually most billionaires pay no tax at all,like huge tech companies- why say they pay when they don't,they would already have left according to your idea-it is simply a lie they take a proportionate part of the tax burden.

Is this just a bragging thread? Save us the poor me routine. Pretty shitty to collapse a chain. And it’s BURNHAM

These threads always make me surprised at the number of people who buy/sell property even though they don't need to move. I suppose it explains why so many chains collapse.
I don't know what will happen with tax but I really wish they could make pulling out of a chain more costly for the person who just suddenly decides they don't need to move.

This is my thinking too