Monday 11 January is the UK’s Advice Day

• More people seek financial advice on the second Monday of the New Year than on any other day.
• Independent  financial advisers reveal their financial tips for 2016
• Advisers listed on unbiased.co.uk offer free reviews of investments,pensions, mortgages and overall financial health.

The second Monday of 2016 will see the year’s biggest rush for financial advice, according to unbiased.co.uk, the UK’s number one site for connecting consumers with the best financial and legal advisers.

Use of the search on unbiased.co.uk is expected to peak on Monday 11 January, which based on past figures has been dubbed Advice Day. From December 2014 to January 2015 traffic on the site rose by 74%, whilst the previous year saw searches increase by a huge 98% from December to January, as people put their New Year’s resolutions into action.

To mark Advice Day, independent financial advisers listed on unbiased.co.uk are providing their top financial tips for the year ahead:

• ‘My advice would be, don’t overlookNational Insurance. Employers can save NI by making a pension contribution for an employee rather than paying salary. Employees can save NI by ‘sacrificing’ salary and having it paid into a pension. The pension payments do not suffer income tax, giving an uplift in value to the employee.’ – Joss Harwood, Eldon Financial Planning

• ‘An important tip for businesses owners is that dividend tax is about to change. Where possible, declare a larger dividend than usual to take full advantage of the current tax regime. When you decide to take the dividend it is worth considering alternative investments such as VCT and EIS, over and above a pension. These investments allow you to claim 30% tax relief and also take advantage of investment opportunities.’ – Adrian Murphy, Murphy Wealth

• ‘April 2016 sees the introduction of a new personal savings allowance. Non-tax payers and basic rate taxpayers will suffer no deduction of tax on interest received up to a maximum amount of £1,000 (for higher rate taxpayers the allowance is £500, and there’s no allowance for additional rate taxpayers). In light of this, review your savings accounts to ensure that you’re getting the best rates of interest.’ Armstrong Watson Financial Planning

• ‘My tip would be to review your tax repayments. With inheritance tax make sure you use your annual gift allowance of £3,000. If you have a spouse or civil partner, ensure that you are making the most of both of your income tax allowances and finally maximise your pension contributions where possible.’ – Denis Mitchell, The Demelza Group

Karen Barrett, chief executive of unbiased.co.uk: ‘New Year is often the time when we pause and take stock – and it also comes hard on the heels of the year’s biggest spending spree, so it’s no wonder people think more about their money. The problem with most resolutions is that they’re easy to make, easy to break – but sorting out your finances needn’t be like that.

‘Taking the simple step to see a financial adviser involves very little effort, and once you start to follow their advice and feel the resulting benefits, keeping to your resolution becomes a great deal easier. In particular, if you’re at or near retirement then there isn’t a better time for learning about your pension options and taking steps to maximise your income. Many of the advisers listed on unbiased.co.uk offer free financial health checks as an introduction to advice, so there really is nothing to lose by giving it a try.’

People can obtain free financial checks from independent advisers through unbiased.co.uk. These include mortgage reviews as well as checks on investments,pensions and overall financial health.

To search for a whole-of-market financial adviser, visit www.unbiased.co.uk.

ENDS

For more information contact:

Anna Schirmer/ Sarah Tye/ Calum MacDougall, Lansons: 020 7294 3682

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About unbiased.co.uk – the advice marketplace

Unbiased Ltd promotes the benefits of financial and legal advice to consumers and businesses and would like to thank the following companies for their support: Alliance Trust, Aviva, AXA Wealth, Canada Life Ltd, Legal & General, MetLife, Opinium Research, Prudential, Royal London and Standard Life Assurance.

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