The 3 Client Emails you could send following the Autumn Budget
The long and overdue Autumn budget was finally announced today by the Chancellor of the Exchequer, Rachel Reeves.
However, within the budget there were some key areas, that could impact a number of your own clients or advisers within a firm.
I’ve put together 3 policy changes that open the door to an email to your client base and possibly additional conversations with your clients.
Disclaimer: The information contained in this post is for marketing strategy and professional guidance only. It is not intended to be tax, legal, or financial advice. We urge you to consult HMRC guidance and an appropriate financial professional before acting on any policy information. Robert Haylor is a digital marketer, not a qualified financial adviser or tax specialist.
Policy 1: ISA/Pension/Property Income Changes
3 of the major areas that being changed as a result of the budget include:
- Cash ISA Limit: The limit on a Cash ISA is effectively being reduced to £12,000 for anyone under the age of 65. Although the ISA limit remains unchanged at £20,000, the remaining £8,000 will be ring fenced for Stocks and Shares ISA’s only.
- Work Place Pension: If you have setup or pay into a WorkPlace Pension you will be pay tax on any contributions over a £2,000pa limit. The change comes into place in April 2029.
- Property Income: If you have clients who get income from either property, savings or dividends they will see a 2% increase in tax across all 3 areas.
Some of these policies won’t come into place until 2026/2027 and beyond, but this is still a good time to have those conversations and deliver good outcomes for your clients.
Tip: Segmentation
If you have an email marketing list, now is a good time segment that list into 3 different areas.
Depending on your client bank and whether the policy changes above effect your clients.
Define who is most affected by each of the 3 areas listed above and send each of them a unique email tailored to the advice and support that you can offer them.
Policy 2: Mansion Tax
For people who own a mansion or a property over the value of £2m or £5m, respectively, they will both be paying more tax on their property.
Whilst this change might be seen as a tool to help make the housing market more progressive and raise additional revenue, it also has implications for older home owners.
This is where conversations with those customers who you already know are asset rich, but cash poor could be useful.
So, with this you could again segment your email marketing list specifically for those individuals and send them an email.
Tip: Subject Lines
Once you have sent your email, you need to get the person receiving it to open it.
Ensure you’re giving a clear indication within your subject line what the email is about. Remember you cannot be misleading, but you must also invoke a sense of curiosity for the person to want to open and read the material.
A good subject line is something we can talk about over a 45 minute digital marketing call, click here to book yours.
Policy 3: Commercial Properties with a rateable value of £500k will pay more business rates
Commercial landlords and business owners that own their commercial properties will most likely be reeling over the Chancellor’s announcement of businesses having to pay more rates if their property has a rateable value of £500k or more.
The Chancellor was very careful with her wording and positioned it as a tool with which to make a level playing field for online retailers and high street retailers. By targeting the “warehouses” of the online retailer.
However, the likelihood of this move is it that it will affect supermarkets, wholesalers and major discount retailers.
As a result of these changes it is likely that we will all be paying more for our products and services either on the high street or online.
Tip: The Business Owner
One of the most important things you can do as a firm owner is to know where your leads are coming from. What marketing channel is most effective for your firm.
Having in place a high quality and secure CRM system isn’t just a nice to have, it is a must have.
It gives you a central location that you can use to store contact information, renewal dates, notes, relationships and more.