Applewood Independent are proud to announce that joint Managing Director, David Pritchard has met the criteria for the 2023 VouchedFor, Top Rated Advisers list as distributed in The Times on Saturday 18th March 2023.
The 2023 Top Rated Adviser Guide recognises those advisers and firms who are consistently doing a great job for their clients, and what makes it even more special is that this list is put together based purely on client feedback over the last 12 months.
David really does appreciate this and thanks everyone for taking the time to leave great reviews. Thank you!

October 2023 marks an incredible milestone for Applewood Independent: our silver anniversary. Over the past 25 years, we’ve grown considerably from a one-man company to a team of 16 people with three financial advisers. 

Our core mission remains the same: adding value to our clients and helping them make their money perform to its highest potential. So far, we’ve done an excellent job at keeping this solemn promise. But it doesn’t end here.

At Applewood Independent, we believe in giving back to the community that has supported and shaped our business since its inception. Here’s how we’re doing this:

Supporting local initiatives

There are a diverse range of ongoing initiatives taking place within the Nantwich community and we’re thrilled to be able to back these excellent works. The annual Christmas tree sponsorship is merely one of the many ways we show our support to the community.

Additionally, we provide the community with financial support for local events which draw in visitors from outside town and ultimately benefit local businesses. For instance, the Nantwich Food Festival – one of the largest events each year – takes place over an entire weekend and attracts over 40,000 visitors. That’s an incredible economic boost for the community and we’re thrilled to be one of the lead supporters for this event.

Supporting local sports teams

In addition, Applewood Independent is giving back to the community by supporting local sports teams. We believe that it’s highly important for children to be able to get physical exercise at a place local to them and as such, we currently sponsor the 3G pitch at Nantwich Football Club which has now been dubbed the Applewood Arena. 

We’re also supporting the ladies football team and the rugby club. Ultimately, these initiatives have a profound effect – helping kids stay healthy while boosting their mental development as well.

Facilitating security through education

We’re not just passionate about ensuring financial security and safety. This security cuts across all boards, including (and most especially) women’s safety. Recently, we supported the Alpha Omega Women Peace and Security (WPS) Foundation – a charity which places a massive focus on helping women feel safe and secure within their community and beyond. Its vehicle for driving this change is education and we’re excited to see what the future holds for this foundation and the Nantwich community.

Supporting families through the current economic crisis

The stock market and the fixed interest market had a tough run in 2022. We witnessed what can essentially be called a domino effect – rising interest rates in response to the inflation in gas and energy prices, which was caused by the war in Ukraine. The short-lived Kwasi Kwarteng budget didn’t help matters either. 

Consequently, more families have been thrown into poverty and many households are still struggling to cope with the high cost of living. We have decided to pitch in and do our part as a business. Thus, we’re helping families navigate through this difficult economic period by supporting the local food bank.

Gearing up for the future

In the last two months, Alex and I have spoken to over a dozen fund managers regarding the stock market outlook for 2023. Interestingly, the general consensus is that the UK is cheap and offers great value compared to the rest of the world. 

There are several great opportunities for investment and there’s no better time than now to take your money out of the bank and invest in UK stocks. While the economy will definitely take a huge hit with the potential recession that’s looming, we’re looking at an upside potential of 50 per cent on investment opportunities over the next 18 months to two years.

Interesting times are ahead and we’re helping our local community gear up for this future by providing them with maximum support. You can also begin to prepare for the future by taking a closer look at your finances and the investment opportunities available to you.

If you’d welcome our input, expertise and experience, please get in touch by emailing me at david@applewoodindependent.co.uk.

The views expressed in this article are those of the author and do not constitute financial advice. Applewood Independent Ltd is authorised and regulated by the Financial Conduct Authority. For financial advice designed for you and your specific circumstances, please contact the author using the contact details provided in this article or, alternatively, contact the Applewood Independent Ltd office on 01270 626555.

The value of your investment can go down as well as up, and you may not get back the full amount invested.

In November 2022, the Chancellor presented his Autumn Statement speech, outlining some new policies and budgetary changes. This new budget – due to take effect from 6 April 2023 – will bring with it a wave of changes that will affect everyone to some degree.

It’s important to be aware of the tax implications arising from this new budget so you can  carry out proper planning for any investments or pensions before the end of the current tax year.

The four major implications are as follows:

Fiscal drag

Whilst most employees will receive a pay rise in 2023, more people will be pulled into higher tax brackets as a result of frozen tax thresholds.

This phenomenon known as fiscal drag, will affect primarily higher rate taxpayers. Previously, the higher rate tax threshold began at £50, 271 and ended at £150,000. This meant that people whose income fit within the boundaries of this band were liable to pay 40 per cent in taxes.

However, from April 2023, the top of this tax band will be drastically lowered from £150,000  to £125,140 and anyone earning over this threshold will have to pay 45 per cent tax. 

This change is certainly worth bearing in mind as we prepare for the new tax year. Nevertheless, there is a tiny leeway that taxpayers might want to consider in the form of pensions. With pension contributions, you can reduce the amount you earn and subsequently, lower your higher rate tax.

The capital gains tax allowance has been halved

In his Autumn Statement, the Chancellor announced a dramatic change in the allowance available to taxpayers who are liable to Capital Gains Tax. 

Capital Gains Tax is typically payable when you sell or gift certain assets. It is critical to note that the gains derived from the ‘disposal’ of assets are added to your income to determine your tax band. 

At the moment, the Capital Gain Tax rates remain unchanged. Basic rate taxpayers pay 10 per cent on their gains (or 18 per cent on residential property) whereas higher rate taxpayers pay 20 per cent on their gains (or 28 per cent on residential property).

However, the snag lies in the fact that the allowance on this tax has been cut down from £12, 300 per annum for each individual to a mere £6,000 in 2023. There are no opportunities for taxpayers to catch their breaths as this figure will be halved again in 2024 to £3,000. 

Thus, it may be worthwhile to consider timing the ‘disposal’ of your assets before the end of the current tax year. 

A reduction in the dividend allowance

In terms of dividends, we expect to see drastic cuts as well in the new tax year.  The tax-free allowance for dividend income will be lowered from £2,000 to £1,000 in 2023 and subsequently, to £500 in April 2024. 

This new policy will affect individuals with taxable dividend income above £1,000 in the 2023 tax year and £500 from April 2024. So, if you own shares or a limited company with dividends, it’s important to start taking action now.

Corporation Tax will jump

Amidst rising tax rates for individual taxpayers, owners of limited companies and businesses are facing a new obstacle ahead.

The main rate of Corporation Tax levied on UK businesses will increase from 19 per cent to 25 per cent. This will affect many businesses leading to less profits, less investments and ultimately, redundancies. 

What’s not going to change?

As mentioned earlier, the new tax year will bring a change in the fiscal sector. But what’s not going to change? 

At the moment, the only constants are the personal allowance, national insurance, and the nil rate band. 

Gearing up for the future

The UK government currently owes about 2.5 trillion pounds in debt, with the interest on this debt ranking as the government’s second highest expenditure. 

As a result, we can expect more tax changes in the coming years as the government struggles to create a balanced budget and reduce the national debt. You can find out more about the current changes on the latest episode of our podcast, A Dab Of Investment. 

In these dire times, it’s sensible to consult an independent financial adviser and ensure that your tax strategy is as efficient as possible. Assess your situation and make the most of your allowances before the end of this current tax year. 

If you’d welcome our input, expertise and experience, please get in touch by emailing me at david@applewoodindependent.co.uk.

The views expressed in this article are those of the author and do not constitute financial advice. Applewood Independent Ltd is authorised and regulated by the Financial Conduct Authority. For financial advice designed for you and your specific circumstances, please contact the author using the contact details provided in this article or, alternatively, contact the Applewood Independent Ltd office on 01270 626555.

The value of your investment can go down as well as up, and you may not get back the full amount invested.