Lockdowns and workouts

On the anniversary of two years of lockdown in the UK here is a view of what we’ve been up to over that time. Work from home, work from office (#WFH) and a bit of work from anywhere.

We have now added new offices in London to the existing base in Reigate, Surrey. This seems counterintuitive for some people as many talk about closing offices. Edale has had some great adventures through this torrid time and some memorable achievements.

In the week up to the UK lockdown on the 23rd March 2020, we were in Worcestershire doing some workshops with some start-up businesses. We moved to a hybrid delivery for the 18th March session with a few people already on zoom and a few at the kiln coworking space. Who knew that we would be living online for such an expanse of time.

Space2Waves Epitomises what we did during lockdown in that an internationalisation program was moved to digital delivery where we were helping maritime and space companies with their planning, development and connections into the United Arab Emirates and South Africa. Our initial activities involve workshops with regard to doing business in these two markets and one-to-one coaching. Additional work then involved fact-finding to identify local corporate that could do business with the cohort members. Further, we then added a virtual matchmaking showcase. And now we have a plan to deliver a virtual trade mission through online delivery in May 2022.

Year-end saw us take desks in London. We also managed social media for Santa Landing and Sleigh through the streets of Reigate and Redhill. This charity work raised £16,000 for good local causes and was a nice thing as omicron spread through the country and allowed people to come to their front door for festive cheer.

February 2022 saw the return of travels and business planning. Through the month we visited Miami, the hub for financial services into Latin America and Abu Dhabi planning for business expansion and development of new projects. Nice to see an airport busy again.

2021 saw us move our business support up with us now working in over 20% of the LEPs regions in England.

First structural fund uses for business support post Brexit

Smaller company business support across the UK has been principally been funded by the European Regional Development Fund (ERDF). Following Brexit, these programmes will be reaching the end of their funded lives and new monies will be coming from a new scheme from Westminister. The Community Renewal Fund is a transition mechanism as the UK Prosperity Fund is created.

Given Edale’s role in business support, we thought it useful to analyse how the funds were allocated.

Here are some of the interesting trends from the 3 November published announcement based on Edale analysis. A total of £203,208,427 has been allocated to 477 projects. This is regionally split England 61.79%, Scotland 9.07%, Wales 23.06% and Northern Ireland 6.08%.

RegionTotal AmountNumber of Projects
England £125,561,514225
Northern Ireland £12,362,97531
Scotland £18,428,68156
Wales £46,855,257165
Grand Total £203,208,427477

England regional allocation descending

England has recieved £125m with the top five regions getting a third of funds. The top 10 regions get 45% of the funds. The big beneficiaries are Devon County Council, Sheffield City Region Combined Authority, Kent County Council, Norfolk County Council and West Midlands Combined Authority.

Devon County Council7.44%
Sheffield City Region Combined Authority6.55%
Kent County Council5.46%
Norfolk County Council5.22%
West Midlands Combined Authority4.27%
Essex County Council3.54%
Greater Manchester Combined Authority3.47%
Nottinghamshire County Council3.14%
Greater London Authority3.02%
Somerset County Council2.90%
Lancashire County Council2.77%
Cambridgeshire and Peterborough Combined Authority2.70%
Hertfordshire County Council2.60%
Leicester City Council2.38%
Nottingham City Council2.29%
North Northamptonshire Unitary Council2.27%
North Somerset Council2.26%
Liverpool City Region Combined Authority2.24%
Worcestershire County Council2.22%
Stoke-on-Trent City Council2.21%
Warwickshire County Council2.21%
East Sussex County Council2.05%
West Yorkshire Combined Authority2.02%
West of England Combined Authority1.96%
Gateshead Council1.74%
Derbyshire County Council1.59%
Sunderland City Council1.27%
Portsmouth City Council1.27%
Tees Valley Combined Authority1.24%
North of Tyne Combined Authority1.23%
Herefordshire County Council1.23%
Staffordshire County Council1.20%
North Lincolnshire Council1.05%
North East Lincolnshire Council1.03%
Plymouth City Council0.95%
Southend-on-Sea Borough Council0.84%
Cornwall Council0.84%
Suffolk County Council0.75%
Durham County Council0.67%
Torbay Council0.65%
Lincolnshire County Council0.65%
Blackpool Council0.62%
North Yorkshire County Council0.61%
Buckinghamshire Council0.61%
Blackburn with Darwen Borough Council0.55%
Medway Council0.48%
City of York Council0.47%
Isles of Scilly Council0.35%
West Northamptonshire Unitary Council0.27%
Hampshire County Council0.17%
Hull City Council0.16%
Oxfordshire County Council0.13%
Thurrock Council0.08%
Dorset Council0.07%
Grand Total100.00%

Scotland regional allocation descending

North Lanarkshire Council13.70%
Argyll and Bute Council11.02%
Dumfries and Galloway Council8.02%
Scottish Borders Council7.26%
East Ayrshire Council7.05%
Falkirk Council7.01%
North Ayrshire Council6.41%
Glasgow City Council5.59%
South Ayrshire Council5.51%
South Lanarkshire Council4.75%
Inverclyde Council4.50%
Aberdeenshire Council3.98%
Clackmannanshire Council3.18%
East Lothian Council2.37%
Dundee City Council1.88%
West Dunbartonshire Council1.77%
Aberdeen City Council1.66%
Fife Council1.28%
Highland Council1.26%
Comhairle Nan Eilean Siar0.90%
Perth and Kinross Council0.58%
Edinburgh City Council0.33%
Grand Total100.00%

Wales regional allocation descending

Torfaen County Borough Council8.24%
Carmarthenshire County Council6.29%
Pembrokeshire County Council6.24%
Denbighshire County Council6.17%
Ceredigion County Council6.04%
Newport City Council5.98%
Isle of Anglesey County Council5.81%
Blaenau Gwent County Borough Council5.78%
Powys County Council5.72%
Swansea Council5.69%
Gwynedd Council5.68%
Neath Port Talbot Council5.15%
Conwy County Borough Council4.90%
Rhondda Cynon Taf County Borough Council4.72%
Monmouthshire County Council4.36%
Merthyr Tydfil County Borough Council4.21%
Caerphilly County Borough Council2.83%
Vale of Glamorgan Council2.27%
Cardiff Council1.79%
Bridgend County Borough Council1.68%
Wrexham County Borough Council0.47%
Grand Total100.00%

Northern Ireland allocation descending

TieTa Uk Ltd14.74%
Ulster University8.72%
Armagh City, Banbridge and Craigavon Borough Council5.56%
Queen’s University Belfast5.01%
Bryson Care4.56%
Leonard Cheshire4.19%
Active Communities Network4.15%
Mid & East Antrim Borough Council4.14%
Kilcooley Women’s Centre4.13%
NOW Group4.04%
The National Trust3.91%
Keep Northern Ireland Beautiful3.86%
Groundwork Northern Ireland3.83%
South West College3.71%
Women’s Resource & Development Agency3.02%
Extern Northern Ireland2.73%
Business in the Community Northern Ireland2.67%
Youth Action Northern Ireland2.53%
Springvale Training Limited2.52%
Kinship Care2.11%
Derry City and Strabane District Council1.95%
Lough Neagh Partnership Ltd1.70%
Network Personnel Ltd1.56%
Belfast City Council0.98%
RNIB NI0.74%
Specialisterne NI CIC0.59%
George Best Belfast City Airport0.48%
Grand Total100.00%

Free marketing advice (funded by the Council) for Worcestershire businesses

With a reopening of the economy its time to review your marketing messages, brand dress, coms and campaigns. For Worcestershire businesses, the Here2Help scheme can give you a kickstart and get your geed up. Book your clinic below.

This hour clinic can help you with any of the following topics:

  • Branding and identity
  • Visual Marketing and Social Media:
    • Claim your identity online.
    • Create (refresh) brand assets.
    • Make a social media plan.
    • Sharpen your messaging.
    • Know your audience and target suitably.
  • Maximising website oomph:
    • Campaigns to get you traffic and eyeballs.
    • Keywords and trends.
    • Search engines optimised.
    • Manage Google My Business profile (largest search database where sometimes people do not leave google page).
  • Advertising and campaigns success:
    • Understand Facebook advertising and Google AdWords.
    • Low-cost ways to promote your business to attract new clients.
    • Kick start campaigns
  • Powering your Email Marketing.
    • Messages to keep customers returning.
    • Informing and enticing.

  • Appointment Info

  • Your Info

Seven 6 second statements on budget detail smaller companies need to know

Information you need to know from the UK budget 2021.

So seven 6 second statements on relevant budget details for smaller companies:

  1. CBILS ends 31 March replaced by Recovery Loan Scheme available to end of 2021. Upto 6 year duration for loans and 3 years for overdrafts and invoice finance. Government guarantee of 80 per cent. Opens on 6 April.
  2. Furlough and self-employed support extended until September.
  3. Restart grants for shops forced to close. £6,000 per premises for closed non-essential outlets. £18,000 for hospitality and leisure businesses.
  4. “Help to grow” scheme with 50% vouchers off digital productivity tools + 90% funded management programme. https://helptogrow.campaign.gov.uk/
  5. Green Bonds and UK Infrastructure Bank opening in spring helping green economy https://www.gov.uk/government/publications/policy-design-of-the-uk-infrastructure-bank
  6. Self-employed have a further grant. 80% trading profits February to April, max £7500. Fifth grant May to September (80% where 30% fall in sales otherwise 30%). People that filed tax returns for 2019-20 by 2 Mar are now eligible (extra £600k people).
  7. Corporation tax increases from 2023 to 25% where profits £250k. remain 19% where <£50000 profit. Taper corporation tax from £50k to £250k, there above the rate is 25% tax on profits.

Self-employed financial adviser opportunities

Are you a self-employed adviser (ifa) feeling stuck in a rut and want to grow within a dynamic business? Or a qualified overseas adviser seeking premier regulated home for clients?

Join Edale UK and expat financial and investment advisory business.

Edale is providing self-employed advisers the opportunity to join their directly FCA, whole of market firm to cover anywhere in the UK as a digital and flexible investment adviser. We also have a broad range of services and clients from top to toe in the UK and across the world.

We can offer flexible working, primary focus on spend timing with clients, little bureaucracy and generous fee share. Also opportunities to expand into new professions (if you want) – business support and business advising. We have backed new companies that are now standalone enterprises. We are a growing professional service firm.

If you would like to know more, please contact us with contact details, and someone will be in touch.

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    Focusing on action and outcomes with TOWS

    When looking at a SWOT analysis and seeking to use the insights to make an action plan there is not much help. TOWS, a variant of SWOAT, allows you to prioritise actions on those areas that provide the greatest strength and also tackle the weakest areas. This grasping maximum and tackling minimums is something we like in TOWS. It doesnt give the answers but it focuses attention on the areas where action is required and gives some indication of the nature of that action.

    The matrix

    The TOWS matrix looks like below. The outer areas are the traditional SWOT analysis. The strategies are the meeting boxes in the middle. The two main areas of priority are reaping maximums and tackling minimums. TOWS is about taking advantage of opportunities, reducing threats, overcoming weaknesses, and exploiting any strengths.

    Grasping maximums

    Taking hold of the best strategic options that an organisation could pursue to develop is known as developing ‘maxi-maxi’ strategies. The plan made in this area builds on internal strengths and external opportunities (SO).

    Tackling minimums

    Facing the vulnerability that threatens an organisation is known as developing ‘mini-mini’ strategies. The aim is to facilitate strategies that face weaknesses as well as minimise and avoid threats (WT).

    Financial Response clinics

    Edale’s mission is to care for financial assets.

    Financial planning is often a lower priority for people. We are in spectacular times where financial planning should be front of mind.

    We’ve opened Financial Response clinics to give anyone free financial checkup on their circumstances. Book any time from 8am to 8pm, any weekday from now on. These are for existing clients of Edale and people new to Edale.  Edale’s (virtual) doors are open to anyone wanting a confidential discussion on their financial plan.

    What should I do with my investment plan? My adviser cannot be reached.Client emailing Edale

    Book your services with Edale through this form.

    • Appointment Info

    • Your Info

    Frequently asked questions

    Who are Edale?
    Edale are a regulated financial adviser and investment firm. The business is based in Surrey, UK but support clients across the UK and abroad.
    I am an expatriate client can we speak?
    Yes, we work with international clients.

    What personal financial planning services do you offer?


    Transactions without advice

    Execution only

    Deal fee + account maintenance

    Edale as gateway to financial markets

    Web tools and product information

    Benefit from institutional partnerships

    Whole service

    For complex financial arrangements, working in partnership with other professional advisers

    Wealth management

    Variable prices

    Complex financial arrangements

    Frequent 1:1 contact

    Monitoring + adjusting financial plan

    Access to the team at any time

    Advice on request

    For client’s needing appropriate financial planning and have a one-off need for advice with no ongoing service.

    On demand

    Pay as you go

    One-off need for advice

    See team via pay-as-you-go model

    Advice on specific circumstances

    Mandate driven by you

    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.