Tax planning can make a huge difference to your income and wealth – especially in 2023, with the cost of living crisis putting pressure on real household finances. Optimising your affairs could save you £100s – perhaps £1,000s – each year, so it is worth taking time to do it. Below, our Lancashire financial planners offer some general ideas on how to mitigate…
Running a family business can be a mixed blessing. One benefit is that you get to work with loved ones and build a legacy together. However, family dynamics can be complicated and this can make it difficult to set boundaries. There are 3 million family businesses in the UK employing 9.4 million jobs…
How much insurance do you need to protect your wealth and household finances? After all, the list of policy types can get quite long with insurance for cars, pets, homes, travel, health, life and income. In reality, most people cannot afford full cover for all insurance types and so need to focus their budget on…
According to numerous studies, “home bias” is very common amongst investors. UK investors tend to prefer investing in UK equities. The same holds true for US investors and their own market. The reasons for this are numerous including transaction costs, inaccessibility and a sense of unfamiliarity…
Making Tax Digital is one of the latest UK government drives to “reduce the tax gap” between what businesses generate and what the Treasury collects in revenues. Some key deadlines are coming up with owners and directors need to be aware of. Below, our financial planners in Padiham explain the key things…
Being self-employed can offer greater flexibility and earning potential for many people. Yet it also presents unique challenges. Irregular income can make budgeting and long-term financial planning difficult. Another potential issue has been highlighted by the Institute for Fiscal Studies (IFS), warning that…
Did you know that UK households spend an average of £2,500 in a month, but this rises by £740 in December (a 29% increase)? The main areas where we spend more include clothing, textiles and footwear, furniture, specialist foods and electronic devices (e.g. computers and phones). In January, however, the result…
Dividends can be a valuable source of income. Investors are increasingly interested in them in 2022 as more households face the rising cost of living. Yet what are dividends, exactly, and how can they be put to work in a portfolio? Below, our Burnley financial planners offer a short guide to dividends…
If you come across a lump sum (perhaps from a business sale or an inheritance windfall), what is the best way to invest it? Should you invest it all at once or gradually? Is it best to simply hold most of it in cash? In this article, our financial planners in Padiham offer three key principles to consider…
Annuities have been largely “out of favour” as a retirement planning option since the 2015 Pension Freedoms. Yet, with interest rates steadily rising since late 2021, annuity rates and sales are on the rise. In this article, our financial planners in Padiham explain how annuities work, why they are becoming…
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