Wealthy investors accelerate gifting amid fears of Budget tax raid 

Wealthy Brits are accelerating plans to gift money to family members as fears over possible tax changes in the looming Autumn Budget grow. Over 40 per cent of wealthy investors with an average wealth of £3.1m, said they have already gifted money or are seriously considering doing so over Budget worries, according to fresh analysis from Wealth Club. Fears were centred on hiked taxes on savings and investments, with 63 per cent admitting they were concerned about increased tax bills. “They are clearly very concerned that this month’s Budget will mean bigger tax bills for them and are reacting accordingly,” said Alex Davies, founder and chief executive of Wealth Club. “Whether it is gifting more money to children and families than they had planned or seeking out tax efficient investments it is important to remember that decisions in the Budget to tweak tax rules have real world consequences.” Capital gains and Inheritance tax In particular, wealthy investors expressed c