Leicester-based chartered financial planners, <a target="_blank" rel="noopener noreferrer" href="https://rowleyturton.com">Rowley Turton</a>, are thrilled to announce they will be supporting local charity, <a target="_blank" rel="noopener noreferrer" href="https://twentytwenty.org.uk">TwentyTwenty</a>, in 2022.Having compiled a shortlist of charities from staff suggestions, Rowley Turton invited their clients and the people of Leicester to vote on which charity should be chosen.After well over 1,000 votes, the winner was this week announced as TwentyTwenty, a Loughborough-based charity which, through its lead project, Love4Life, helps young people aged 11 to 19 years build their confidence and make positive choices — in their relationships, health and education.Rowley Turton will be making a £50 charitable donation to TwentyTwenty for each person that an existing client or contact recommends to them, who then goes on to book in an initial meeting.Crucially, there's no requirement for the introduced person to become a client of Rowley Turton. All they need to do is agree to make time for an informal chat about their financial goals, whether face-to-face, via Zoom or on the phone.&nbsp;Rowley Turton director, Scott Gallacher, said:<blockquote> I'm delighted that TwentyTwenty was chosen, as it's a charity I have known for some years. Given the challenges of the pandemic, young people need more help than ever before so it feels like the right choice. We're aiming to raise at least £2,000 during the course of 2022 but will hopefully smash that target.</blockquote>Joanna Burrows, Fundraiser, TwentyTwenty, added:<blockquote>“We're thrilled that Rowley Turton have chosen us as their charity of choice in 2022. Nearly two years of the pandemic have taken their toll on young people in so many different ways and this financial boost couldn't have come at a better time. It will help us to provide a far greater level of support to the young people of Leicestershire.”</blockquote><figure class="image"><img src="https://s3.eu-central-1.amazonaws.com/newspage.com-staging/company/831/files/7c5efaeeb89351a99412559140123c84c382048080cafd660a2f5cbff51ab652b8efc8ce12c74583af1ffa797526dc41ffa170d09ba18a7f1b8d10ace89a7c3b.jpeg"><figcaption>Love4Life supporting young people in Leicestershire</figcaption></figure>Who are Rowley Turton? Established in 1996, Rowley Turton is focused on providing high-quality financial planning and wealth management. They advise people planning for retirement, those already enjoying their retirement, and those sadly recently bereaved.&nbsp; Their independent financial advice covers a wide range of financial matters. This includes investments, savings, pensions, retirement, protection, and long-term care. Importantly, Rowley Turton brings all these advice areas together for their clients, providing them with a personalised financial plan.

Scott Gallacher

Leicester financial advisers to support local charity TwentyTwenty in 2022

We’re a multi-award winning, Chartered firm of Financial Planners with a 25-year heritage. Rowley Turton (IFA) Ltd was formed in 1996 by Alan Turton and Rowleys (formerly John Rowley & Co.), one of Leicester’s oldest independent firms of Chartered Accountants. We are now one of the UK’s leading firms of Chartered Financial Planners and Independent Financial Advisers, having won and been shortlisted for dozens of financial advice awards. In total, we look after more than £144 million for our clients. The focus on traditional service and values has never changed, but things have not stood still. We have always placed an emphasis on keeping abreast of the fast-moving financial world and continue to do so. We deal with the simplest query, to the most sophisticated investment and tax planning. Our service is designed to take on as much, or as little, of the burden of managing your planning as you would like us to. Our wealth of experience, our independence and our focus on ‘joined-up planning’ means that you can rely on us to do so and help you to achieve a successful financial future.

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The UK property market faces a significant short-term challenge as interest rates climb. While much focus has been on homeowners, among those feeling the pinch are Buy-to-Let (BTL) landlords, particularly those with interest-only mortgages. With the added burden of 20% tax relief restrictions, many properties are at risk of experiencing net losses. "Amidst the rising interest rates, we are already witnessing signs of distress among some of our Buy-to-Let (BTL) landlord clients," says Scott Gallacher, a Chartered Financial Planner at Leicester-based financial advisers Rowley Turton. "Some are choosing to exit the BTL market entirely or significantly reduce their property portfolios, reflecting the mounting challenges landlords face in this evolving economic landscape." Interest rates have a profound influence on the UK rental market. As rates increase, the cost of borrowing for BLT landlords increases, impacting their profitability and ability to manage their investments. Many BLT landlords rely on interest-only mortgages to maximise their cash flow and returns. However, with rising rates, these landlords face higher mortgage payments and reduced profitability, especially if rental income fails to keep pace. BLT landlords are particularly vulnerable to the repercussions of rising interest rates. As they face increased financial pressures, some may struggle to maintain their property investments, leading to tough choices. These challenges can be even more significant for those with substantial property portfolios, potentially leading to selling some properties to offset losses incurred from others. The 20% Tax Relief Restriction Adding to the predicament of BLT landlords is the 20% tax relief restriction introduced in recent years. This measure has limited the tax relief landlords can claim on their mortgage interest payments. As a result, many landlords have experienced reduced tax benefits, further impacting their net income from rental properties. Consequences for Properties and Tenants The combined effect of rising interest rates and the tax relief restriction can lead to some properties operating at a net loss. Landlords may be compelled to take drastic actions when they face these losses. For some, selling their properties is the only viable option to alleviate financial pressures. As landlords list their properties on the market, the supply of available rental units might increase. With more properties available for sale or rent, tenants could face eviction if landlords choose to sell rather than continue renting out their houses. This, in turn, could lead to higher demand for rental properties, driving rental prices higher and potentially exacerbating the affordability crisis for tenants. Despite the short-term challenges, some senior experts Scott Gallacher has spoken to in the past in building societies argue that the real estate market's long-term supply shortage will provide a buffer against significant price declines. The imbalance between housing demand and supply could keep prices relatively stable, even with rising interest rates. Additionally, the impact of inflation and wage rises might help underpin some of today's property prices. As wages rise and inflation occurs, the value of real assets like property also tends to increase. This phenomenon could support property prices in the long run, offering a glimmer of hope to BLT landlords and the broader real estate market. Rising interest rates present immediate challenges for BLT landlords, especially those on interest-only mortgages. The 20% tax relief restriction further compounds the situation, pushing many properties into a net loss position. As landlords face tough choices, some may opt to sell their properties, leading to potential tenant evictions and increased housing market volatility. Given the urgency of the situation, landlords are urged to consider their options sooner rather than later. Taking proactive measures allows for careful planning and informed decision-making, preventing them from being forced into rash actions with little or no time to respond effectively to market changes. Despite the short-term hurdles, long-term supply shortages, and inflationary factors, landlords can navigate these challenges successfully with prudent strategies and adaptable approaches to safeguard their investments and ensure the well-being of their tenants.<blockquote>"In the face of escalating interest rates, the UK property market is witnessing a storm of uncertainty," reveals Scott Gallacher, a Chartered Financial Planner at Leicester-based financial advisers Rowley Turton. "As a growing number of Buy-to-Let (BTL) landlords contemplate exiting the market or downsizing their portfolios, it is imperative for landlords to take swift action and consider their alternatives wisely. Making informed decisions now will empower them to weather the challenges ahead, steering clear of impulsive choices and securing a stable future for their investments and rental properties."</blockquote>

Interest Rates Spell Trouble for BLT Landlords

As the snow continues to sweep across the country, many of us could find ourselves snowed in this weekend. While it may be tempting to spend the day binge-watching Netflix, why not take advantage of the extra time to sort out your finances?&nbsp; Here are five things you can do this weekend to get your finances in order: 1. Make a budget Creating a budget is the first step towards financial stability. Use this snowed-in weekend to take a deep dive into your expenses and income. Identify areas where you can cut back on spending, and set aside some money for savings. 2. Check your credit score Your credit score affects your ability to obtain credit cards, loans and mortgages, so it's important to keep it in good shape. Take some time to check your credit score and make sure everything is in order. If there are any errors or inconsistencies, take steps to correct them. 3. Review your insurance policies Take some time to review your insurance policies, including home, car, and life insurance. Make sure you have adequate coverage and that you're not overpaying for policies that you don't need. 4. Check your bank statements Go through your bank statements and credit card bills to ensure that there are no unexpected charges or fraudulent transactions. If you do spot something unusual, report it to your bank or card issuer immediately. 5. Plan for your retirement It's never too early to start planning for your retirement. Use this weekend to review your retirement accounts, including your pension and savings accounts, and make sure you're on track to meet your retirement goals. In conclusion, being snowed in can be a great opportunity to sort out your finances. Use this weekend to create a budget, check your credit score, review your insurance policies, check your bank statements and plan for your retirement. By taking these simple steps, you'll be on the path towards a more secure financial future. Stay warm and stay safe! &nbsp;<blockquote>Snow days may disrupt our daily routine, but they also provide us with an unexpected opportunity to focus on our finances. Take advantage of this time to review your budget, check your insurance policies, start an emergency fund, make retirement contributions, and explore new investment opportunities. These small steps can make a big difference in achieving your financial goals."</blockquote>

Make the Most of Your Snow Day: 5 Financial Tasks to Tackle

<h3>The Advantages of Owning a Holiday Home Abroad.</h3>As a financial adviser, I’ve noticed that many of our clients own holiday homes, and they often extol the benefits of these. Whilst I can see the attraction, I’ve always preferred the flexibility of exploring different destinations every year. However, a recent conversation with a client has made me rethink my position. My client, a successful managing director, explained that, like most business owners and executives, they could rarely entirely escape the office. There is always something that needs dealing with, even when on holiday. They described a recent cruise where they had paid extra for a cabin with internet access, but the connection could have been better, and they could not effectively deal with even simple emails from the office. In contrast, when they go to their holiday home, where they have installed high-speed fibre internet, they can fully relax while still being able to work remotely. This conversation got me thinking about how the rise of remote working and video calls has made it possible to work from anywhere with a good internet connection. And that buying a holiday home abroad can provide an escape from the British winter and also allows for an efficient work-life balance. One of the advantages of owning a holiday home abroad, as opposed to a traditional holiday, is having total control over your internet speed. Rather than relying on the hotel or rented apartment’s connection, you can ensure that you have a fast and reliable connection, which is essential for video conferencing and getting work done. Additionally, another advantage is the ability to travel light. When you have a holiday home, you can leave your clothes and personal belongings there, eliminating the need to pack heavy suitcases or wait for them to be offloaded from the plane.<h3>Location, Location, Location.</h3>When considering buying a holiday home abroad, the convenience of the location is an essential factor. And, if you’re based in Leicester like us at Rowley Turton, choosing a holiday location with direct flights from East Midlands or Birmingham makes sense. Direct flights on your doorstep make travelling to and from your holiday home much more convenient, saving you time and money. Not only that but choosing a location with good flight connections also makes it easier for friends and family to visit you and for you to rent out the property when you’re not using it. Another thing to consider is the proximity of the holiday home to local amenities and activities, such as restaurants, shops, and tourist attractions. This will give you more options for entertainment and activities when you’re not working. It’s also worth researching the local area and community to understand the culture and way of life. This will help you to decide whether the location is the right fit for you and your family. In conclusion, while the convenience of the location is an essential factor to consider when buying a holiday home abroad, it’s also important to research the local area and community, as well as the proximity of local amenities and activities. This will help you to decide whether the location is the right fit for you and your family, making your holiday home a perfect place to relax and enjoy your time off. &nbsp;<h3>The Financial Implications of Owning a Holiday Home Abroad.</h3> While the benefits of owning a holiday home abroad are clear, it’s essential to consider the financial implications before making any decisions. It’s essential to consider the cost of purchasing, maintaining, and insuring the property, as well as any additional expenses such as property management and utility bills. It’s also important to consider the tax implications, particularly if you plan to rent your property when you’re not using it. That’s why it’s crucial to seek professional advice from a financial advisor or a tax expert before proceeding. At Rowley Turton Chartered Financial Planner, based in Leicester, we have over 25 years of experience in helping clients navigate the financial complexities of owning a holiday home abroad. With our expert guidance, we can help you make informed decisions and ensure that you are fully aware of the financial implications of buying a holiday home abroad.<h3>Conclusion.</h3>Owning a holiday home abroad can be a great way to escape the British winter and enjoy a change of scenery while still being able to work remotely. Still, it’s essential to factor in the financial implications and seek professional advice before making any decisions. Nevertheless, with the right planning and preparation, a holiday home abroad can be a great idea that provides a lifetime of memories and an escape from the daily grind.<blockquote>Owning a holiday home abroad can offer the perfect work-life balance, with the freedom to relax and enjoy a change of scenery, while still having the ability to work remotely. But it's important to consider the financial implications and seek professional advice before making any decisions.</blockquote>

The Rise of Remote Working and the Benefits of Owning a Holiday Home Abroad

Many people dream of retiring early and enjoying a life of leisure, but it's important to carefully consider the financial and lifestyle implications before making a decision.&nbsp; While early retirement may seem appealing, it's not necessarily the best choice for everyone. In this blog post, we'll explore the pros and cons of early retirement, and offer some tips on how to prepare for an early retirement. The Pros of Early Retirement: More Free Time: Early retirement means more time to pursue hobbies, travel, and spend time with loved ones.Better Health: Stressful work environments can take a toll on physical and mental health, and early retirement can provide the opportunity for a healthier lifestyle. Increased Flexibility: With more free time, early retirees have the flexibility to volunteer, take on part-time work, or start a small business. The Cons of Early Retirement: Financial Concerns: Early retirement means a shorter time to save for retirement, and retirees may have to live on their retirement savings for longer. This can be especially challenging if they have not saved enough for retirement. Loss of Social Connections: The workplace provides many social connections and early retirees may miss this social interaction. Lack of Purpose: Without work, early retirees may find themselves lacking a sense of purpose and struggle to fill their days. Tips for Preparing for Early Retirement: If you're considering early retirement, here are some tips to help you prepare: Create a Retirement Budget: Start by creating a budget that outlines your expected expenses and sources of retirement income. This will help you understand whether you have saved enough for retirement. Make a Plan for Social Connections: Make a plan to stay connected with friends and family, and consider taking up new hobbies or volunteering to help maintain social connections. Create a Sense of Purpose: Consider how you will create a sense of purpose in retirement, whether through hobbies, volunteer work, or pursuing a new career. Conclusion: Early retirement can be an attractive option for those who want more free time and flexibility, but it's important to carefully consider the financial and lifestyle implications before making a decision.&nbsp; While early retirement may be the right choice for some, others may find that continuing to work is a better option. By creating a retirement budget, making a plan for social connections, and creating a sense of purpose, you can be better prepared for an early retirement.<blockquote>Retiring early can be a dream come true for many people, but it's important to carefully consider the financial and lifestyle implications before making a decision. It's not just about having enough money saved up, but also having a clear plan for how you will spend your time and finding purpose in your retirement.</blockquote>

The Pros and Cons of Retiring Early

Leicester, UK - As a Chartered Financial Planner with Leicester-based financial advisers Rowley Turton, I am concerned about the recent reports that the UK retirement age is set to rise to 68 before the end of the 2030s. If implemented, this change would significantly impact the retirement plans of millions of people, particularly those born in the 1970s and later. "The proposed bringing forward of the increase in the state pension age is coming at a challenging time for many people. Investors are still suffering the impact of recent events such as the pandemic and the Russian invasion of Ukraine, both of which have put a strain on many people's retirement savings," says Scott Gallacher, Chartered Financial Planner at Rowley Turton. Under current legislation, the state pension age is already rising to 67 in the next few years. And for it to reach 68 by 2046. However, it is now reported that the government is considering bringing that date forward, potentially as early as the next budget, to raise billions for the Treasury. "At Rowley Turton, we understand that retirement planning is a complex and personal process," says Gallacher. "Accelerating the increase in the state pension age would impact the financial stability of millions of people and could affect their ability to secure a comfortable retirement," says Scott Gallacher, Chartered Financial Planner at Rowley Turton. As financial advisers, it is our duty to keep our clients informed of any changes that may affect their retirement plans, and work with them to find alternative solutions. We will closely monitor this situation and provide updates as more information becomes available. "We advise our clients to start planning for a longer working life and to consult a financial advisor to plan for the long term," says Gallacher. "The state pension age increase is not set in stone yet, and the plan could change. Therefore, it is important to have a plan B ready." We encourage anyone affected by this proposed change to contact an independent financial adviser for a personalised retirement plan review. &nbsp;<blockquote>The proposed increase in the state pension age is not just a numbers game, it has real life consequences for millions of people who are already struggling to secure a comfortable retirement. It's crucial for individuals to review their retirement plans and seek professional advice,</blockquote>

Rowley Turton: State Pension Age Hike Alarms Financial Advisors

Leicester-based financial planner warns of a retirement rental timebomb as recent census shows, the number of households renting privately has doubled in the past 20 years, while the percentage of homeowners has decreased significantly.* Chartered Financial Planner, Scott Gallacher of Leicester-based financial advisers, Rowley Turton, states that this trend has important implications for retirement planning and urges renters to start planning for retirement as early as possible.&nbsp; Gallacher states: “The trend towards private renting and away from homeownership has significant implications for retirement planning. As more people are renting, rather than owning their own homes, they will be paying rent in retirement, which can be a significant financial burden.”&nbsp; With an average rent of £1,174 per month, a 65-year-old would today need a pension fund of £408,964 just to cover their rent. This figure, which ignores any retirement benefits, assumes the purchase of an index-linked annuity taxed at basic rate, i.e. 20%, on retirement at 65. The annuity rate is 4.306% Source - https://www.hl.co.uk/retirement/annuities/best-buy-rates Gallacher calculates that a 25-year-old renter looking to retire at 65 would have to pay £1,156 a month gross into a pension to cover the rent in retirement**. Allowing for basic rate income tax relief, this is a net contribution of £925 per month. Gallacher says, “For those currently renting, it is crucial to start saving more for retirement now to ensure they have a stable income during their golden years. The first step is ensuring they are in their employer’s pension scheme and taking full advantage of it. However, the self-employed don't have that option and would instead need to set up their own pension scheme. In addition, renters should probably invest in long-term savings and investment plans to help them accumulate wealth and prepare for retirement.&nbsp; Additionally, renters should consider alternative options such as Help to Buy, Shared Ownership scheme or Rent to Buy options. These schemes can help renters take their first step on the property ladder and start building equity in their home, which can be a valuable source of income during retirement.”&nbsp; Gallacher concludes by encouraging renters to seek professional financial advice to help them plan for retirement and make the most of their money. He states, “It’s important for renters to take control of their financial future and start planning for retirement as early as possible. As financial advisers, we help guide our clients through this process and ensure they are on track to achieve their retirement goals.”&nbsp; *Source - https://www.theguardian.com/uk-news/2023/jan/05/number-households-renting-more-than-doubled-2001-census-england-wales **Based on the government’s Money Helper Pension Calculator and adjusted to allow for rent increasing by inflation. &nbsp;<blockquote>If renters cannot get on the property ladder, they should urgently review their retirement plans. As with a lifetime of rent ahead of them, retirement might never be affordable without taking action today.</blockquote>

Financial Adviser Warns of Retirement Rental Timebomb

Leicester-based Chartered Financial Planners Rowley Turton are delighted to have been shortlisted for a national financial advice award. Rowley Turton are shortlisted for 'Best Retirement Advice Firm' in the 2022 Money Marketing Awards.&nbsp; Rowley Turton director Scott Gallacher said: "We focus on advising those who are either 'Planning for retirement' or already 'Enjoying retirement'. Consequently, to be recognised by the judges as one of the leading retirement advice financial adviser firms in the UK is a great honour." The Money Marketing Awards recognise the best advisers and providers the sector offers. The accolades are not awarded lightly. Several shortlisting rounds occur before the judges comb through each entry and decide on a winner. The culmination of hard work and effort over the past year and the rigorous judging process associated with the Awards ensures that winning one of the awards is a mark of excellence.&nbsp; &nbsp;<blockquote>"We focus on advising those who are either 'Planning for retirement' or already 'Enjoying retirement'. Consequently, to be recognised by the judges as one of the leading retirement advice financial adviser firms in the UK is a great honour."</blockquote>

Rowley Turton shortlisted for major retirement planning award

Whilst most people long to reach retirement age, many of our clients express no real desire to retire. They often have jobs that love or businesses that they have started and lovingly nurtured and grown. If you've never wanted to leave your job or business, why would you need a pension? What's the point? Well, things change and you need a Plan B. Just in case. Bear in mind: 1. We all age, some quicker than others but we all age eventually. We may lose physical and mental ability. 2. We may suffer serious ill-health. 3. Your job may become obsolete. The world is always changing and there is no guarantee that your job won't become obsolete, or at least outsourced. 4. Your work environment might change. People come and go. Businesses get taken over. The workplace you currently love might not be as enjoyable in the future. 5. Businesses evolve. It's great to be starting and building a business. But many business owners I speak to acknowledge that, as the business matures, a lot of the fun goes out of it. Eventually dealing with staff, suppliers, and even customers may become a chore. 6. Businesses fail! Even great businesses can get caught out by change. Remember that Marconi, Woolworths, BHS, Rover and Blockbuster were all great businesses at one time. 7. Even if we love our job or business, none of us can be 100% certain that one of these things won't happen to us. It's that potential for things to change that's the reason all of us should have a pension. It's an extremely tax-efficient way of having an escape plan, even if we don't ever envisage needing to use it. And, if things do change, you'll be so glad that you have your pension to fall back on. Your own Plan B as it were. But what if you're right and you never retire?&nbsp; Well, in that case, you've got a pension fund you can leave to your loved ones or charity. That's hardly the end of the world, is it? &nbsp;<blockquote>Many of my clients don't want to retire. However, none of us knows the future. Consequently, having a pension is our own Plan B, in case the future doesn't pan out how we think it might.</blockquote>

Seven reasons you need a pension, even if you don't ever want to retire.

Leicestershire based Chartered Financial Planners Rowley Turton are delighted to have been shortlisted for ‘Tax and Estate Planner of the Year’ in the Investment Life &amp; Pensions Moneyfacts Awards 2022. The firm, which has helped clients achieve financial peace of mind for over 25 years, is the only firm from the East Midlands to make the final. Rowley Turton has risen above the challenges of the last couple of years. They have added a new adviser, recruited support staff and moved to a new larger office to accommodate their growing team. The winner will be announced at a gala dinner on Thursday, 15 September 2022, at the London Hilton on Park Lane. The Investment Life &amp; Pensions Moneyfacts Awards are the unrivalled highlight of the year for the investment, life and pensions market. &nbsp;Scott Gallacher, Chartered Financial Planner and Director, Rowley Turton, said:“The recent National Insurance and Dividend tax rate rises mean that the tax burden in the UK is at its highest-ever sustained level.&nbsp;Tax planning has never been more critical to help ensure that you have a comfortable retirement and can still leave a meaningful inheritance for your children.We’re proud to be shortlisted for this prestigious national tax planning award.”<blockquote>“Tax planning has never been more critical to help ensure that you have a comfortable retirement and can still leave a meaningful inheritance for your children.”</blockquote>

Rowley Turton finalist for major tax planning award

People often wonder what's the most important thing you should get from working with a financial adviser/planner. They often think it's about sorting out investments or pensions. Some may think it's about getting the 'best returns'. Others think it's about saving tax. Of course, having the right plans, and the most appropriate investments is important. And who doesn't want to save tax? All of these are important. It's just that, on their own, they are not the most important thing. They are simply part of the overall picture. For me, working with a financial adviser/planner should help you achieve Financial Independence. What do we mean by Financial Independence? In simple terms, it's about being able to retire, when you want, in comfort without the fear of running out of money during your lifetime. Don't I have that anyway if I just carry on working? No, there is more to it than just that simply carrying on working, and saving, until you reach retirement age. Many of us, of course, could reasonably expect to retire in comfort provided we carry on working and putting money away for long enough. But what if we suffer serious ill-health before we retire and can no longer work for a long time? Financial Independence is also about ensuring you have sufficient ill-health protection in place to cover you against serious or long-term Ill health. But it's not only about you. Most of us are not only working for ourselves. We are also working to provide a great life for our loved ones. So what happens to them if the worst happens to us? Financial Independence is also about ensuring you have sufficient life assurance in place to ensure your loved ones can still have that great life, even if you sadly die early. What about Business Owners? Isn't my business my pension? Not necessarily. Many Business Owners are far too financially dependent on their business. Financial Independence is also ensuring that you have sufficient funds (Savings, Investments, Property, Pensions, etc) outside, and separate, from your business. Those separate assets are essential to ensuring business owners achieve Financial Independence. That Financial Independence gives business owners complete Financial Independence to:<ul><li>Retain the business for as long as they want. They won't need the sale proceeds, and they can withstand any loss should the business fail in the future, or</li><li>Pass the business to the family without the need to realise the sale proceeds, or to continue drawing an income from the business. Too many businesses fail due to the pressures of having to provide an income to both the founding parents and their children who are now running the business, or</li><li>Pass the business to the employees. For many business owners, the business and their employees are their family. And they want the option of being able to pass the business on to their employees but often they can't afford to do so, or</li><li>Sell the business without being completely reliant on the sale proceeds. Many business owners overvalue their business. Consequently, when it comes to selling it they are often disappointed, and they may even be unable to afford to sell it without compromising their own retirement plans.</li></ul>Financial Independence allows business owners the financial freedom to do what they want with their business when they decide it's time to retire. So, achieving Financial Independent isn't about simply paying into a pension. Working with a great financial adviser/planner isn't simply about sorting out a pension, an ISA, or life assurance. It's about helping you achieve Financial Independence through professional financial planning.<blockquote>Too many people don't know what to expect from a financial adviser. Consequently, they don't always get the most out of them. You should be working with a great financial planner to help you achieve Financial Independence. That's what will give you the financial peace of mind that most of us crave.</blockquote>

Is your financial adviser helping you achieve Financial Independence?

It was reported at the weekend that Labour plans to tax private schools an additional £1.7bn by removing VAT and business rates exemptions. They claim this will raise £1.6bn and £100m respectively. Chartered Financial Planner Scott Gallacher of Leicester based financial advisers Rowley Turton (IFA) Ltd. advises many parents on the best ways to fund private school fees for their children, and he claims that Starmer’s plans “don’t add up”.&nbsp; Gallacher says: “Labour’s figures are far too simplistic and don’t add up. This planned tax raid put even more pressure on the state school system and the education budget as some parents will no longer be able to afford a private school education for their children. For every child in private school, the government saves the cost of a state education. Yet, Labour’s figures seem to take no account of this.”&nbsp; Labour’s policy is not a new one. A similar policy was in their 2017 manifesto. However, Gallacher explained that the Independent Schools Council commissioned Baines Cutler Solutions Ltd (“BCS”) and KPMG to review that VAT policy in 2018. That review concluded that it was ‘reasonably likely’ that up to a quarter of private school pupils could be forced out of private education due to the introduction of VAT on school fees. And, because of that reduction of private school pupils due to VAT increasing fees, rather than raising money via additional tax revenues, this type of policy could cost the government money by way of additional state education costs.&nbsp; The report concluded that the cost of this VAT policy would be c£1bn initially due to the capital costs of building or expanding schools, and c£1bn a year after that in additional education costs.&nbsp; So, rather than raising funds and improving the state system, Gallacher is concerned that the policy is ideologically driven with no genuine fiscal benefit to the country. Hence, it may put more pressure on state schools. &nbsp;<blockquote>Labour’s figures are far too simplistic and don’t add up.</blockquote>

Financial Adviser claims Starmer’s tax raid on private schools doesn’t add up.

Leicester based Chartered Financial Planners, Rowley Turton is pleased to announce we are supporting the Rotary Club of Leicester's Books4Home appeal. Reading is an essential skill, whether reading a book or a newspaper, checking the sports results, following a recipe, or using social media. It's also something that most of us enjoy doing. Rowley Turton director Scott Gallacher says: "Like most parents, reading bedtime stories to my children was a real joy, and we've always had lots of books in the house for them. So consequently, I was dismayed to read that one in eleven children from disadvantaged backgrounds do not even own a book or aren't read to. Hence, I'm delighted that we can support the Books4Home Leicester appeal." However, your reading ability can also be a key determinate of your future. Various studies have found poor literacy linked to unemployment, low income, poor health behaviours, and lower life expectancy. According to the National Literacy Trust, around seven million adults are unable to read, write, and communicate successfully. The cost to the UK of this poor literacy is estimated at approximately £2.5 billion a year. Good literacy starts in childhood. But, of course, the opposite is also true, i.e. poor literacy also begins in childhood. To help tackle this literacy crisis, the Rotary Club of Leicester has launched Rotary's Books4Homes project in Leicester to help children in our local area, and we at Rowley Turton are delighted to be a part of this appeal.<h3>Who are the Rotary Club of Leicester?</h3>The Rotary Club of Leicester are one of the UK’s longest-established Rotary Clubs,&nbsp;with over 50 members, drawn from men and women committed to making a difference within the local Leicester community and internationally.Rotary Clubs are part of the worldwide Rotary movement that provides members with an opportunity to socialise, network and serve the community.This service is both local, with projects such as the Books4Home Leicester appeal, and international, particularly in developing countries such as water purification and supply projects. Perhaps the biggest success of Rotary to date is their End Polio Now campaign which was almost eradicated Polio in the world.<h3> How does Rotary Books4Home Leicester appeal work?</h3> The Rotary Books4Home Leicester appeal aims to help and encourage local children to read by:<ul><li>Collecting new and used children's books from local people and organisations,</li><li>Raising money to purchase new children's books, and</li><li>Donating these books (via a local school) to pupils so that they will have their own books, and having</li><li>Rotarians visit schools to listen to pupils reading.</li></ul>More information about the appeal can be found here: <a target="_blank" rel="noopener noreferrer" href="https://www.rotary-leicester.org.uk/our-projects/books4home-leicester/">https://www.rotary-leicester.org.uk/our-projects/books4home-leicester/</a>People can donate directly to the appeal via their JustGiving page here: <a target="_blank" rel="noopener noreferrer" href="https://www.justgiving.com/campaign/RotaryBooks4HomeLeicester">https://www.justgiving.com/campaign/RotaryBooks4HomeLeicester</a><h3>In what ways is Rowley Turton supporting Books4Home?</h3>Rowley Turton is requesting donations of new or good-quality children's books from their staff, clients and suppliers.They are also, along with other local firms, acting as a donation point. So local people can donate their children's books to the appeal by dropping them off at Rowley Turton's Leicester office (Bramcote House, Ervington Court, Meridian Business Park, Leicester LE19 1WL) during office hours &nbsp;<blockquote>Like most parents, reading bedtime stories to my children was a real joy, and we've always had lots of books in the house for them. So consequently, I was dismayed to read that one in eleven children from disadvantaged backgrounds do not even own a book or aren't read to. Hence, I'm delighted that we can support the Books4Home Leicester appeal.</blockquote>

Leicester financial advisers back Books4Home appeal

<h2>Scott Gallacher, a Chartered Financial Planner at Leicestershire-based independent financial advisers, <a target="_blank" rel="noopener noreferrer" href="https://rowleyturton.com">Rowley Turton</a>, says he's seen scammers getting increasingly bold on Facebook in recent months.</h2>Scammers have been using Facebook for a long time to extract valuable personal information from people and a common tactic they use is to post what appears to be an innocent and fun game, often a quiz.&nbsp;For example, they'll ask “What is your Superhero name?” and give you a set of responses that you can select using your birth month and initial to generate a name such as ‘Captain Turbo’.<h4>Hey presto, personal data</h4>The scammer now has a key bit of personal data about you, i.e. the month you were born. Other posts might be more direct, simply asking “Name the first car you ever owned”, “What street did you grow up on?”, or “Do you remember your best friend from childhood?”.The answers to these questions are often security questions used by banks and other financial institutions.<h4>In the public domain</h4>Essentially, people are putting their personal data in the public domain in this way, which can leave them vulnerable to scammers and potential ID theft. Gallacher says the scammers are getting even bolder as he is now seeing posts asking users to “Use the last three digits of your phone number to see what you need to be happy”. &nbsp;If your phone number ended 461 this would generate the answer alcohol (4), travel (6), money (1). Gallacher warns Facebook users to be vigilant and take care not to disclose their personal data by participating in these ‘fun’ questions and quizzes.&nbsp;He explains:&nbsp;<blockquote>“We like to think it’s only vulnerable people that are scammed but I know some very successful people who’ve fallen victim to scammers this year.&nbsp;People need to take care that they aren't giving scammers the security keys to their online and telephone accounts. How long is it before we see scammers asking for “a four-digit number only you know?” &nbsp;</blockquote>Facebook is the world’s biggest Social Media company with almost 3 billion regular users. Consequently, the platform is a potential goldmine for scammers looking to harvest users' personal data. However, a simple search on Facebook reveals lots of these dangerous posts, so it's not clear that Facebook are doing much to protect their users.