As a person approaches retirement it is common for them to have a wide range of investments, pensions and savings. These might include capital in ISAs (individual savings accounts), SIPPs (self-invested personal pensions), regular savings, various defined contribution pension pots and maybe even a…
The long-awaited March 2021 Budget has now been revealed, with its details still being pored over by media pundits. As financial planners here in Padiham, Burnley, Lancashire, our team at Elmfield are keen to communicate how the new budget may affect your wealth and finances in the coming months and years…
The end of tax year is fast approaching (April 5th 2021) and marks an important moment when various tax allowances refresh. Failing to make the most of them could represent hundreds – if not thousands – of lost pounds, so it’s worth taking stock of your own case. In particular, are you making the most of your ISAs (individual savings accounts)? In 2020-21…
Inflation is sometimes known as the “silent killer” of savings. Your bank statement, for instance, will likely show the interest generated from your regular savings account (e.g. 0.5%) – yet it will probably not tell you the rate of inflation during that period. Inflation refers to the rising cost of living – i.e. goods and services – and thus gradually reduces the spending power…
What’s the difference between a financial planner and an accountant? Why might you use one over the other? In short, the latter helps with auditing and financial statements – such as your tax self-assessment leading up to the financial year (April in the UK). The former helps you with the big questions of how to build and protect your wealth, covering areas such as…
COVID-19 is now recognised by the Office of National Statistics (ONS) as the seventh leading cause of death in the UK. Thankfully, so far NHS hospitals have not been flooded in the manner widely feared at times earlier in 2020. Yet the pandemic is causing problems in other areas such as funeral services and – for the purposes of this article – probate, where families are waiting months for inheritance tax cases…
Financial advisers. IFAs. Financial planners. Investment advisers. Pension transfer specialists. For the uninitiated, labels like these may appear synonymous and unimportant. Yet there are key differences which do matter – especially if you find yourself needing help understanding and making decisions involving complex matters of wealth and personal finance.
Self-employed workers form an important part of the UK economy. In December 2019, about 5m people were registered as self-employed in the UK – up from 3.2m in 2000. Overall, this makes up about 15.3% of the country’s workforce – with freelancers alone contributing £300bn a year to the economy. Yet despite their contribution self-employed people…
For many people in 2020 life has felt very out of control. Bringing clarity and a sense of order to your wealth and finances, therefore, is a great way to bring stability and peace of mind to your situation. Here at Elmfield, our financial advisers in Padiham, Burnley, Lancashire offer some thoughts on how to set strong financial goals which move you in a positive direction.
This content is for information and inspiration purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice please consult us here at Elmfield Financial Planning in Padiham, Burnley, Lancashire. Chancellor Rishi Sunak was scheduled to deliver a Summer Statement in July 2020, to provide an update on how the UK economy was…
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