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…
UK residents now change jobs 17 times, on average, across their working lives. With each new job that you take, moreover, your employer is obliged to sign you up to the organisation’s pension scheme under UK auto-enrolment rules. As such, you could end up with over a dozen pension pots from your career…
An inheritance tax (IHT) bill can cost families thousands of pounds if no careful planning is put in place. Fortunately, a range of tools is available in 2022-23 to help you reduce an unnecessary tax bill – leaving a more meaningful legacy for your loved ones. In this guide, we share six ideas to help you mitigate a future IHT liability…
Many self-employed people struggled during the COVID-19 pandemic. With the onset of social distancing restrictions, quarantine and work-from-home orders, several businesses struggled to keep going. Hairdressers, tattoo artists, photographers and others could not meet their clients…
The NHS is under great strain at the moment. A&Es are turning away ambulances, with over a quarter of ambulances waiting 30 minutes (or more) to deliver patients to hospitals. Partly, the situation has been driven by surging hospitalisations from COVID-19 – which has also caused thousands of…
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