January Sale – No initial fees [limited offer]

This January, we are very excited to providing an opportunity for financial sensibility and to rejuvenate your investments or take the financial steps you’ve been avoiding.

No initial fees to Voucher holders.Edale

Our special offer = get all initial fees from Edale waived for standard financial advice on pensions, ISA and general investment accounts.

This offer is open to UK resident clients. For special circumstances we can offer a discount on bespoke advice.

We are limiting this to offer to 20 clients that buy our advice voucher. The £10 voucher is refunded on completion of your investment account setup.

Examples of the cost of financial advice

Example 1
I’m approaching retirement with £100,000 in savings, a £150,000 pension and £100,000 in an investment Isa, and would like advice on drawing an income in retirement.
average quote
Example 2
I’m 10 years into my career, with £60,000 in savings and £40,000 in an investment Isa. I’d like to start saving for my child university education.
average quote
Example 3
I’m 50, with comfortable savings and no mortgage, and would like to invest a £100,000 inheritance.
average quote

In August 2019, Which? surveyed 108 real financial advisers to get a sense of how much you could expect to pay for financial advice for a range of scenarios.  Here we show the average quote we were provided for each scenario.

Read more: https://www.which.co.uk/money/investing/financial-advice/how-much-financial-advice-costs-a1dwl4f8j8pf

Regulated financial firm
Experience business owners/leaders
Safe secure payment
Instant voucher download

Offer now closed.

Edale is authorised and regulated by the Financial Conduct Authority.

With ISAs, Pensions and general investment accounts, your capital is at risk.

Terms and Conditions

The January Sale is available between 1 – 31 January 2020, subject to availability. A voucher must be purchased and pre-paid and cannot be refunded, unless you open an investment account with one of Edale’s product provider.

Full Terms and conditions and information on Edale is available at www.edale.co/terms.

Edale UK Management Limited, trading as Edale and Edale Investments, authorised and regulated by the Financial Conduct Authority (Reference number: 812332) with offices at 15 Bell Street Reigate Surrey RH2 7AD UNITED KINGDOM.

Should I invest or pay off my mortgage?

The decision whether to invest or pay off mortgage is an interesting balance of different factors. There is the purely monetary, mathematical answer, but importantly there is the emotional and willingness to take risk considerations. To start what are the advantages and disadvantages of investing and overpaying on the mortgage.

Use extra cash to overpay on a mortgage:Investing the money:
  • Mortgage free or will be mortgage free quicker
  • Save interest that would have been paid to the lender
  • Increased equity in your property
  • If investing in the stock market your money could be more easily accessible and used for your retirement income in the future or available for emergencies
  • The potential for your money to grow in value over the long term
  • Tax incentives or credits for retirement savings or other forms of investing
    • You may be charged a fee by the lender for early repayment
    • Money tied up in property
    • Money can’t be used on other things in the future unless you sell your property
    • Your money could be worth less if property prices fall
      • Investing is risky, you may see the value of your money fall
      • Your mortgage debt remains and you still need to make repayments

        Using circumstance for an average household here is a worked example that shows the financial consequences of overpaying 10% of the outstanding debt on a property. With an outstanding debt of GBP 200k with 20 years remaining and an annual interest rate of 3.5% on a repayment mortgage overpaying £20,000 has the following impact. Overpaying would save £17,979 in interest, and means the debt is paid off 2 years & 8 months earlier. If you would face a large penalty for overpaying, consider reducing the term of your mortgage, for a small fee. This increases your monthly payments, in effect permanently overpaying.

        Alternatively, here is a calculation of the tax credits of benefits from investing in a retirement pot. Your pension provider will claim back basic rate tax at 20% from HMRC adding this to your pot. If you pay a contribution of £80, your pension provider claims back a further £20 so a total gross contribution of £100 is paid into your pension pot. If you’re a higher rate taxpayer, you can claim further tax relief (at your higher rate less the basic rate already claimed on your behalf) from HMRC. This is usually claimed through your self-assessment tax return, although HMRC may also adjust your tax code to give you this additional relief. This means that if you pay income tax at 40%, you could claim an additional £20 tax relief, making your net contribution £60 in the above example.

        If you’re a UK taxpayer, in the tax year 2018-19 the standard rule is that you’ll get tax relief on pension contributions of up to 100% of your earnings or a £40,000 annual allowance, whichever is lower

        A £20,000 contribution to a pension has the following tax credit and growth at conservative growth estimates. The tax credit, non-taxable growth makes retirement saving very efficient in the UK.

        Contribution to pensionBasic rate tax at 20% from HMRC adding this to your potHigher rate tax relief through self assessmentTotal reliefTax relief for Basic Tax Payer plus growth over 20 years on £20,000
        20 yrs growth @3%£45,153£54,183£9,031@3% pa for 20 years
        20 yrs growth @5%£66,332£79,599£13,266@5% pa for 20 years

        The option to invest or overpay into a mortgage is a decision to reduce debt versus earn profits from investing. Investment maths often tilt in favour of maximising tax deferred investing opportunity before paying off the mortgage.

        Great whizz if IR35 affecting you and going on-payroll to keep more retained profits in your pocket

        Speaking to clients that work as professional service contractors or working through their own limited service company many are reviewing the use of these going forward with new UK legislation from 6 April 2020. The new legislation aims to ensure workers operating through personal service or limited companies are paying the right levels of tax and national insurance and will crack down on “disguised employment”.

        The personnel arrangements are not something we can address but for people going “on-payroll” as employees and reviewing the viability of keeping their limited company here’s a few financial planning ideas to distribute retained earnings and cash into a pension and use tax reliefs to improve your financial affairs for the future and keep as much cash as possible.

        “Disguised employment” is where contractors operate in exactly the same way as their permanent counterparts but end up paying less to the public purse because of the operation of the service company.

        Financial planning guide for closing a service company

        If you are going on-payroll the validity of retaining the old company may be limited.

        Distribute retained earnings and cash in a tax efficient way and improve your financial position.

        Ltd company solvent liquidation

        Solvent Liquidation is known as Members Voluntary Liquidation. A members' voluntary liquidation (MVL) is the formal liquidation process used to close down the affairs of a solvent company. Basically distribute retained earnings and cash to shareholders.

        10% tax via entrepreneurs relief

        Entrepreneurs relief allows you to pay less capital gains tax, at 10% on gains of all qualifying assets which are sold. It is applied when you sell your business, and usually in a Members Voluntary Liquidation (MVL)

        Pension carry forward

        Carry forward allows you to make pension contributions in excess of the annual allowance for three years. 

        25% basic tax credit

        The government will add 20% basic rate tax relief that effectively a 25% uplift. As a higher rate taxpayer you can claim back extra tax relief via self assessment.

        25% drawdown at 55

        People aged 55+ can withdraw a 25% tax-free lump sum from their pension. You pay Income Tax on the other 75%.

        Close the company and access retained cash and earnings efficiently

        If moving “on-payroll” the administrative costs to maintaining a limited company may be lost money. Just closing the company and distributing cash from the company will usually be taxed as income at your marginal tax rate if paid as dividends and if above £25,000 at income tax rates, the table below has England, Wales and Northern Ireland and Scotland income tax rates for 2019-20. Dividend taxes are 7.5%, 32.5% or 38.1%, depending on your marginal rate of personal tax.

        Income tax rates 2019-20
        Income tax rates for 2019-20 in England, Wales and Northern Ireland

        Tax Rate (Band)Taxable IncomeTax Rate
        Personal allowanceUp to £12,5000%
        Basic rate£12,501 to £50,00020%
        Higher rate£50,001 to £150,00040%
        Additional rateOver £150,00045%

        Income tax rates for 2019-20 in Scotland

        BandTaxable IncomeSottish Tax Rate
        Personal AllowanceUp to £12,5000%
        Starter Rate£12,500 to £14,54919%
        Basic Rate£14,549 to £24,94420%
        Intermediate Rate£24,944 to £43,43021%
        Higher Rate£43,431 to £150,00041%
        Top Rateover £150,00046%

        Paying the costs for a solvent liquidation means distributions from a liquidation are treated as capital and subject to Capital Gains Tax and the existence of entrepreneurs relief means gains are taxed at 10% above the annual capital gains tax allowance. There is a very simple worked calculation below on the benefits.

        Worked example of solvent liquidation versus informal strike off

        A single director/shareholder wishes to close their company on 30th April 2019 with £80,000 of retained workings.


        Informal strike off
        total tax and fees


        Members Voluntary Liquidation
        total tax and fees


        total tax and fees

        Workings and assumptions
        We’ll assume the following:

        • Retained profits are £80,000 – the informal strike off seeks to reduce this to £25,000 by paying dividends of £55,000
        • The director did not sell any personal assets in the year and has not used any capital gain allowances
        • The 2019/20 tax year dividend tax-free allowance is £2,000.
        • The director has no other income in the 2019/20 tax year
        • No salary taken from the company by the director
        • No dividend has been taken in the 2019/20 tax year to date
        Informal strike offMVL
        Retained earnings of company£80,000£80,000
        Dividend to be taken from the company before 30th April 2019-£55,000-£2,000
        Tax-free dividend allowance used 1-£2,000-£2,000
        Dividend Tax Payable at 32.5%£17,225.00
        Retained earnings after dividend paid£25,000£78,000
        Annual capital exemption used 2-£12,000-£12,000
        Amount of Capital Gain£13,000£66,000
        Capital Gains Tax Payable 3£1,300£6,600
        MVL advisor fee (estimated)0£2,500
        Total tax and fees for comparison£18,525£9,100

        1 To utilise tax-free dividend allowance. No other dividend issued
        2 Individual capital allowance in 2019/20 tax year is £12,000
        3 Entrepreneurs Relief rate of Capital Gains Tax is 10% in 2018/19 tax year

        Upto £160k pension contributions + 25% immediate credit

        Carry forward allows you to make pension contributions in excess of the annual allowance and receive tax relief. Carry forward allows you to make use of any annual allowance that you may not have used during the three previous tax years, provided that you were a member of a registered pension scheme.

        £40,000 is the most you can pay in to your pension each tax year that ends each April. The UK government has created a carry forward that lets you take advantage of any unused allowance from the previous three tax years. That’s up to £40,000 from each year, so you are able to make a pension contribution of up to £160,000 plus receive basic pension tax credit plus higher rate tax relief if a higher income tax payer.

        Remember investments go down in value as well as up so you could get back less than you invest. You normally can’t access your money until any time after your 55th birthday (57 from 2028) so pension are long term investments. There are additional rules about how much you earn, whether you are in Scotland where different income tax levels apply. So this is not advice, speak to us related to your personal situation.


        added to pension


        tax relief added
        as 20% basic tax relief


        extra tax relief
        if higher rate taxpayer


        effectively cost to for
        £25,000 in your pension

        Accessing your pension with tax free lump sum

        If you’re 55 or over you can take 25% as a lump sum without paying tax. If you do this, you can’t leave the remaining 75% untouched. You must either:

        • buy a guaranteed income (annuity)
        • get an adjustable income (flexi-access drawdown)
        • take the whole pot as cash
        Overview of how much tax you may pay on the money you take from your pension pot
        The governments pension wise has a good table gives an overview of how much tax you may pay on the money you take from your pension pot.

        The pension optionsWhat’s tax freeWhat’s taxable
        Leave your pot untouchedYour whole pot while it stays untouchedNothing while your pot stays untouched
        Guaranteed income (annuity)25% of your pot before you buy an annuityIncome from the annuity
        Adjustable income25% of your pot before you invest in an adjustable incomeIncome you get from your investment
        Take cash in chunks25% of each amount you take out75% of each amount you take out
        Take your whole pot in one go25% of your whole pot75% of your whole pot
        Mix your optionsDepends on the options you mixDepends on the options you mix

        You should consider financial advice when accessing your pension as it is important to leave money to generate an income in later life.


        Updating as we get more enquiries

        We shall update this article from time to time as we get more questions from people this helps.


        Independent financial advice

        Let Edale help you manage your wealth.

        Open all hours, 8 days a week

        Unlike most financial institutions Edale operates an open all hours philosophy.

        We help clients across many countries and time zones and different days of the week. In the Middle East where a working week is Sunday to Thursday and in Europe where its Monday to Friday we are always on hand. We are always on hand.

        In addition, we also operate numerous communication methods to stay in touch with our clients to reflect their preferences for contact us or ask questions.

        We are pretty happy with the results. Happy customers and praise for our service. We rely heavily on customer referrals for

        Customer rating

        Welcome to Edale "client first" service.

        Get 25% (guaranteed) on each investment contribution

        For every £1 paid from your pocket into a UK pension 25p is added. The title may sound like some form of scam but it’s a true financial return for UK taxpayers paying into their pension. For anyone with no pension savings, this is a huge missed opportunity. The government makes contributions to your personal or workplace pension in the form of a tax refund. The amount you receive depends on your income tax bracket, so if you’re a basic rate taxpayer you get a tax top up of 25% on your pension contributions, up to an annual limit. Your pension provider automatically claims the basic rate contribution on your behalf and adds it to your pension pot.

        Pensions with Edale

        Edale can help you form a new pension plan, as well as review existing plans. When you make contributions, we’ll automatically claim tax relief from the government and add it to your pension pot.  You can manage your pension online through our online access: check your balance and past contributions.

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          Old style pensions are expensive

          Competitive financial services in recent years especially following the unbundling of fees has resulted in lower fees for pensions. If you have maintained your pension and not moved it around we can usually find better alternatives. Whether you are at a stage looking to access your pension or adding to your pension Edale can help. As a truly independent firm, we are not tied to deals done by a network (the old adage if that size buys power, but we have examples where we get better platform offers than national IFA networks) or a parent’s manufactured products.

          Risk warning

          As always with investments, with a pension, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice. For personal financial advice speak to one of the Edale team.


          Busy entrepreneur? Adept at wearing many hats? Got a financial adviser…ooops

          As a busy entrepreneur, you’re adept at wearing many hats: product developer, salesperson, tech troubleshooter, to name a few. However, personal financial security and ensuring a good retirement mean that the finance hat is a particularly tough one to wear. Let a team of skilled professionals handle it for you.

          Edale is a financial planning firm with targeted expertise in small businesses. By working with our advisers, you’ll tap into two decades’ worth of combined experience in investments and financial planning so that you can

          • Be coached. We work with clients to uncover their real intent in life and what they really want to achieve. This allows any further financial planning to have a focal point to ensure that our other services meet our clients’ true life goals. This service helps clients
            understand the importance of money in relation to their aspirations.
          • Locate assets suitably. We provide advice on the best way to shelter investments from tax and how best to provide protection for the client’s (or their beneficiaries) assets.
          • Get set. You’ll be better able to monitor your financial situation when Edale helps you to plan, set up, and manage your wealth online. You’ll have a personal plan alongside the business plan. Spend less time tracking your bottom line and more time enhancing it for your business and own financial success.

          To discuss how you can bring your company’s director financial care in line with your long-term business objectives and get financially fit personal finances contact Edale.

          Nudge theory to be a better saver

          Nudge theory is a behavioural science that uses subtle methods and psychology to help people move in the right direction. It proposes a positive reinforcement of behaviour or indirect suggestions to act in a certain way. Nudge theory can also be seen as a way to take the last step.

          Nudge theory in financial services is less common than in other industries. Knowing you need to do something bu not acting is a common occurrence.

          Here are some smart tips as a financial nudge to make you step over the line to a better saver.

          • Saving on the day you get paid makes it seem more affordable putting something aside when there is a larger sum.
          • With a pay rise direct some money into an investment plan. Its new money so put it away before you get used to it in your pay packet.
          • Unexpected income should be put into savings, don’t just spend it. Earn a guaranteed 25%.
          • Looking at a put spare change into a jar or in our digital world consider a debit card that rounds up and puts the money into a savings account.
          • Putting money away from your salary into a workplace pension often gets matched by your employer.

          Other financial nudge tips. Share them with us and we will add the best ones to our list.

          Converting driving license to UAE

          One of the professionals at Edale works in Dubai and UK so has a UAE residents permit. Supporting our DIY attestation article we thought we would also share how to get a driving license in the UAE when holding a UK issued licence.
          Originally the idea was to use the UK driving licence for hiring a car for trips between Dubai or Abu Dhabi. The drive between the two cities in a taxi or Careem or Uber can cost £70, so £30 car hire is more appealing. Converting a foreign driving license to a UAE is an easy task and we did it in a day in September 2019.
          Unknown to most until you try to hire a car is that with a UAE residents permit you can not use an overseas driving license. There is a large fine of AED 10,000 apparently.
          Seeing the advice on the UAE website was last updated years ago here is our advice for converting a DVLA UK driving ever licence to a UAE driving licence. The countries from which citizens can transfer their driving licences are given below: Australia, Austria, Bahrain, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Japan, South Korea, Kuwait, Netherlands, New Zealand, Norway, Oman, Poland, Portugal, Qatar, Romania, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States. These are the exception countries. This process does not work for getting a new driving licence only converting it.

          Getting an Eye Test

          To get a UAE driving license you need to go to optometrists and get an eye test. I walked into Al Jaber Optical at the non-DIFC side of the Emirates Towers metro station and they did one on the spot no need to book an appointment. The test consists of the reading number off a wall chart that has a descending size and then reading hidden numbers from a book of red/green patterns. This was a few minutes long and I got an RTA letter confirming the eye test passed and paid AED 140 to the optometrist. I was advised to have two passport photos to hand but these were not required. The Emirates ID was sufficient as an identify document. The eye test is valid for 3 years from the date of issuance.

          Paperwork before going to the traffic department

          There is a pack of documents mentioned needed before heading to the Dubai Traffic Department in Al Ghusais, these include
          1. Original and copy of emirates ID
          2. Your eye test results
          3. Copy of passport page and residents visa
          4. Original driving licence of the exception countries. Legalised translation of the licence if it was not in English or Arabic.
          5. A no objection letter from the employer or be a profession from the except list for the 66 professions (your profession is named on the resident’s visa in the passport)
          6. If over 65, Medical screening for Senior resident certified by the Dubai Health Authority

          Professions that do not need a no objection letter

          Driving license department

          Amongst the police department buildings at the back of Dubai Airport is the Driving License department. The Dubai Traffic Department Driving License Section in Al Ghusais part of the police station is open from 7.30 am to 2.30 pm each working day. In map software search for “Dubai Traffic Department – Dubai Police” – there is a link here.
          This part was efficient and all you need is the paperwork outlined above. I had misfortune of not having passport and residents stamp but the did have a PC and printer so I was able to print these off having copies saved in the cloud.
          You go to the main reception desk. I went there early as the office opened at 07:30 am to avoid the queues. There were 3 people ahead of me. In a couple of minutes my documents were checked and then a ticket was issued with my booking number. Sat down on the Sofas and was called a couple minutes later. I handed the pack of documents and got a receipt SMS to the local number.
          A few minutes after I paid the AED 870 fee (I needed to get cash from the ATM as my debit card was. Not accepted. Credit cards are valid apparently) the UAE driving license was issued. The new driving license had my Emirates ID photo on and valid for two years from the date of issue. The AED 870 fee is made up of 200 AED for opening a file, 600 AED for issuing a license, 50 AED for handbook manual and 20 AED Knowledge and Innovation fees.
          Let us know if any of the steps change or this article of use.

          Edale gets hands on and hands in

          Edale’s business these days is offering advice to businesses as wealth creators and people/institutions as wealth holders. Our work on business advisory and financial planning (including investment advice) grows from our core activity of monitoring, managing and caring for financial assets. Both these areas feed one another, for example, a director of a company wanting advice for their company may also want personal financial advice for their pensions.

          In a moment of reflection getting a coffee and looking at the papers on the desk, there are a few projects on the desk covering acceleration business cases, private client financial planning and new product assessments (as well as finalising plans for a business trip). Edale has always had a hands-on approach with subject matter experts as leads, though today writing a proposal that we “give a guiding hand as well as getting our hands dirty” encouraged us to share how we work. We get stuck in either signposting or fixing.

          When setting out on our own in Jan 2014 with nothing but an idea and enthusiasm it was fun but equally scary. Five years on its easy to wish you had the fortitude to start earlier but getting an experienced hand to advise at the start, that was not there – one reason we setup Accelerate.  These days we focus on building and running an investment smart, digitally driven and technically savvy businesses with lean operations. This allows us to bring value to customers. We also aim to do this with sustainability and with a conscious – reflecting our developing policies for caring for older and vulnerable clients.

          Here is a brief look at some of the things that show our hands-on approach.

          • We have mentored entrepreneurs and taken some into our business, Edale is a host entrepreneur business for Erasmus for Young Entrepreneurs. A European Community funded exchange of experience programme where an experienced entrepreneur helps the new entrepreneur from all EU27 countries acquire the skills needed to run a small firm through working in the host entrepreneur business.
          • Edale regularly produces investment documents and lessons from these have had successful funding and investment. In the past three years we have produced materials and investment documents to gain following accolades applied and received SEIS Advanced Approval; completed numerous R&D Tax Claims; wrote the application and pitch deck to win places on three accelerators for Edale linked enterprises.
          • We offer advice through ERDF backed programmes to support financial fitness and grow SMEs. The European Regional Development Fund (ERDF) is one of the European Structural and Investment Funds (ESIF). It aims to strengthen economic and social cohesion in the European Union by reducing regional disparities in terms of income, wealth and opportunities. ERDF has funded numerous initiatives across the UK supporting SMEs.
          • We have financial planning clients in the UK and across the world providing access to suitable investment products or where a special need is identified we shall undertake research to source and validate a solution before advising the client. This has led meant we are approved with international life companies, wrap platforms, stockbroking solution, and mutual fund provider.

          One of the reasons we achieve so much is a flat structure with named leads that operate within the business on client-specific mandates. Built around a client lead is a flexible control and operating framework to support the business and ensure the core focus is on the client goal. Edale’s flat organisation structure has less supervision of employees and promotes their increased involvement in the decision-making process which encourages more direct engagement and hand’s on approach.