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Card Payment Fees: Should You Choose IC++ or a Blended Rate?

If you run a business and you take card payments, you’ve probably wondered if you’re getting a good deal on your processing fees. One thing many people don’t realise is that there are two different ways providers charge you, and the difference could be costing you money.

The first option we are going to analyse is IC++ pricing. This is probably the least understood pricing model; however, you can potentially save a lot of money by moving to this pricing structure, so let’s take a look at IC++ pricing in more detail.

Is IC++ the Right Choice for Your Business? Here’s How It Works and What You Could Save:

Let’s break it down in plain English:

IC++ (Interchange Plus Plus) is a pricing model where your card processing fees are charged at individual rates, which can result in significant savings over time.

Let’s say you have a turnover of £10,000 with an average order value of £20.00.

The average breakdown for each card type used is:

Visa Debit: 40%
Visa Credit: 10%
Visa Business: 4%
Mastercard Debit: 31%
Mastercard Credit: 13%
Mastercard Business: 2%

Here is an example of business rates on an IC++ pricing model:

Terminal Fee: £20.00 per month
Authorisation Fee: 3p per transaction.
Visa Debit: 0.4%
Visa Credit: 0.8%
Visa Business: 1.25%
Mastercard Debit: 0.4%
Mastercard Credit: 0.8%
Mastercard Business: 1.25%

To keep the maths simple, how much would this cost each month with a turnover of £10,000 per month and an average order value of £20.00?

Total Transactions: 500
Authorisation Fee: 3p x 500 = £15.00

Terminal Fee (1 x terminal): £20.00
Visa Debit: 40% of £10,000 at 0.4% = £16.00
Visa Credit: 10% of £10,000 at 0.8% = £8.00
Visa Business: 4% of £10,000 at 1.25% = £5.00
Mastercard Debit: 31% of £10,000 at 0.4% = £12.40
Mastercard Credit: 13% of £10,000 at 0.8% = £10.40
Mastercard Business: 2% of £10,000 at 1.25% = £2.50
PCI Compliance: Free
Total: £89.30 per month

This may seem like a lot to take in, but having custom pricing for each card type can massively benefit your business if your customers pay mostly by debit cards, which these days people do.

When Should You Choose an IC++ Rate?

This option is appropriate for businesses that process over £4,000 through their card machines per month.

If you know your customers mostly use Visa Debit or Mastercard Debit, an IC++ model can work very well for your business, especially if you have a higher turnover. Let’s break it down as to how it works.

Is a Blended Rate the Simpler Option for Your Business? Here’s What It Means and What You’ll Pay:

With a blended rate, everything is rolled into one simple percentage. For example, you might pay 1.5% per transaction, and that’s it. It doesn’t matter how many transactions you have, or the split of your card breakdown with a blended rate; they are super simple to manage because you will have the same percentage rate mirrored across all card types!

At the moment, the average blended rate in the industry is 1.5%. Quite often, people pay for the device upfront with a blended rate, although some customers still pay monthly, but for this example, we won’t have a monthly fee for the terminal on a blended rate. 

‘How does a Blended Rate compare to the IC++ Rate?’, you may ask. Well, let’s run the breakdown again, but this time with a blended rate.

So, how much would this cost each month with a turnover of £10,000 per month and an average order value of £20.00?

Total Transactions: 500
Authorisation Fee: 0p (most blended rates have no authorisation fee)

Terminal Fee £0.00
All Card Types: 100% of £10,000 at 1.5% = £150.00
PCI Compliance: Free
Total: £150.00 per month

As you can see from the maths, you can save around £60.00 per month by moving over to an IC++ rate, which could equate to £720.00 per year savings based on the figures above.

When Should You Choose a Blended Rate?
Blended rates are often best suited to smaller businesses processing up to £4,000 per month, as well as seasonal traders who prefer the flexibility of no monthly fees or long-term contracts. For businesses that value simplicity and upfront pricing, blended models can work well. However, if your card turnover is regularly above £5,000 per month, or you’re planning to grow, it’s worth reviewing your rates to ensure you’re not overpaying.

To Summarise:

IC++ Rate

The Good:

• The percentage charge rates across each card type are generally a lot lower than the charge of a blended rate

• Works out a lot cheaper if you take lots of card payments

• Rates are often fixed, so you’re not subject to rate reviews every 3 months

• Great if you want control over what individual card rates you pay

The Bad:

• It can be difficult to understand the monthly/annual statements

• Your total fees can change slightly every month (with some providers… not us!)

Blended Rate

The Good:

• Very transparent – you know exactly what you’re paying

• Fixed rate – great for budgeting and keeping track of your costs

• Often comes without a set contract of X months

• Great for seasonal businesses

• Ideal if you don’t take loads of card payments

The Bad:

• Often more expensive than other pricing models if you have a high turnover rate

• Subject to pricing changes, as you’re not in any form of contract

So, Which One Is Better for Your Business Type?

It entirely depends on your business:

• Small businesses or start-ups: A blended rate is usually easier to manage. You always know what you’re paying.

• High-volume businesses (like cafes, barbers, shops): IC++ could work out cheaper, especially if most of your customers pay by debit card.

• Larger or growing businesses: It’s worth comparing both to see where you could save more in the long run.

Top Tip: Ask for a Free Merchant Statement Review

If you’re not sure what you’re currently paying, ask your provider (or us) to review your latest card statement. We’ll break it down for you and show you whether IC++ or a blended rate would be better for your setup.

Final Thoughts

There’s no one-size-fits-all when it comes to card processing fees. The best choice depends on how your business runs, how many card payments you take, and how much you’re processing.

Understanding the difference between IC++ and blended rates could save your business hundreds or maybe even thousands of pounds a year – and it only takes a few minutes to check.

If you would like to learn more or have any questions, feel free to call us for a friendly chat on 01603 339096 or visit https://businesspaymentssolutions.co.uk/

Welcome to our June newsletter, providing you with updates from 1st Aid at Work Training Services with any relevant Health & Safety Executive (HSE) news.

As of May, we are delighted to have joined as a member in Norfolk Chamber of Commerce. We look forward to engaging with other Chamber members over the coming weeks and months.

The Health & Safety Executive (HSE) has recently published advice to raise awareness for the impact of exposure to Asbestos. To coincide with the HSE’s campaign of raising awareness, we can provide video-based e-learning training for Asbestos Awareness and Asbestos Awareness for Architects and Designers, for only £35 (+VAT) per course. For more information on the HSE campaign or to view our e-learning, please visit https://www.firstaidcourses.co.uk/news/items/asbestos-awareness.

Throughout May, we delivered 12 First Aid courses across the UK, providing certification for 85 people. Our courses are delivered at your workplace for up to 12 attendees. If you would like to book a First Aid course, more information can be found here. Alternatively, you can email us on info@firstaidcourses.co.uk.

First Aid training you can trust

With over 40 years in First Aid training, we provide the most reliable and effective First Aid courses available. Our expert trainers deliver courses tailored to your specific needs, ensuring your staff are fully prepared for emergency situations.

All our First Aid trainers have many years of experience in teaching First Aid and hold up to date teaching qualifications. FAIB approved and monitored training, Latest protocols from Resuscitation Council UK

On-site First Aid courses throughout the whole UK tailored to your company’s working arrangements.

The things people have said… 

   
Amazing and engaging course. Mary was incredible!

It was brilliant. Time went really fast and I feel like I learned a lot!

Really positive, interactive course, great trainer Mary!

Coercive and controlling behaviour within families has gained significant attention following a series of high-profile Court of Appeal cases. These rulings highlight the challenges in identifying and proving this complex form of domestic abuse in legal proceedings.

Understanding Coercive and Controlling Behaviour in Family Law

Coercive or controlling behaviour in intimate or family relationships has been a criminal offence since the Serious Crime Act 2015. Further protections were introduced through the Domestic Abuse Act 2021. When children are involved—whether they are direct victims or witnesses—the implications are profound. Such abuse can significantly influence decisions regarding contact between the child and perpetrator.

In these situations, family courts may need to decide allegations of coercive control. If substantiated, such findings can affect decisions about the perpetrator’s future involvement with the children.

What is Coercive and Controlling Behaviour?

• Coercive behaviour involves repeated acts intended to harm or instil fear, such as threats, assault, intimidation, or humiliation.
• Controlling behaviour refers to actions that isolate victims, restrict their independence, and dominate everyday aspects of life—like finances, employment, movement, and social contact.

The Court of Appeal emphasised that coercive control is rarely evident from isolated incidents. These actions must be viewed collectively to understand the abusive pattern. A single event could be interpreted as stubbornness or stress, for example, but where there is a pattern over time, it may constitute abuse.

How to Prove Coercive Control in Court

Victims should document each incident meticulously and preserve any supporting evidence, such as messages or photos. Testimony from friends or family who notice behavioural changes or social withdrawal can also support a claim.

Impact of Coercive Control on Children

The Court of Appeal identified several ways in which children can be harmed by coercive control:

• Direct abuse towards the child.
• A victim’s inability to meet the child’s needs due to fear of the abuser.
• A home environment filled with anxiety and fear.
• Exposure to misogynistic or harmful values that shape the child’s worldview.

Legal Support for Victims

As family law solicitors and Resolution members, we routinely assess the risk of domestic abuse, even when it isn’t the primary concern of the client. Once identified, we provide comprehensive legal guidance and support.

For family law advice, contact Hatch Brenner on: 01603 674529

Support Services:

• National Domestic Violence Helpline: 0808 2000 247
• Leeway: 0300 561 0077
• Men’s Advice Line: 0808 801 0327

Cyber attack concerns? You’re not imagining it. You’re just paying attention.

When even M&S and Co-op are getting hacked, it’s probably time to stop relying on the digital equivalent of cling film to keep your business safe.

Cyber attacks are on the rise — and SMEs are firmly in the crosshairs. Why? Because hackers know smaller businesses often have weaker defences (and yes, they will try “password123”).

At Beacon IT, we’re on a mission to make cyber security feel less like a panic button and more like common sense.

✅ Phishing simulations
✅ Password managers
✅ Proper backups
✅ Multi-factor authentication
✅ AI-powered protection (set up by real humans — hi 👋)

We break down the risks, the red flags, and the simple steps to keep your business safe — all in plain English, no jargon goggles required.

📖 Read the full article: https://www.beaconit.co.uk/cyber-attack-concerns
💬 Or get in touch if you’d rather talk it through.

Because yes — cyber attack concerns are real. But with the right support, so is your peace of mind.

When it comes to managing your finances, choosing the right advisor is crucial. An independent financial advisor (IFA) offers distinct advantages over advisors tied to specific financial institutions. Established since 2004, we’re proud to be an independent financial advisory company based in Norwich, Norfolk.

Here are some key benefits of working with an independent financial advisor.

1. Unbiased Advice

Independent financial advisors are not restricted to a particular bank, insurance company, or financial institution. This means we can offer unbiased recommendations tailored to your unique financial goals and needs, rather than being influenced by sales targets or commissions from specific products.

2. Access to a Wide Range of Products

Unlike advisors affiliated with a single company, independent advisors can access a broad spectrum of financial products, including investment funds, insurance policies, and retirement plans. This diversity allows us to find the best solutions suited to your financial situation.

3. Personalised Financial Planning

Independent advisors take a holistic approach to financial planning. We focus on your long-term financial well-being by considering all aspects of your financial life, including investments, estate planning, tax strategies, and retirement goals.

4. Fiduciary Responsibility

Many independent financial advisors operate as fiduciaries, meaning they are legally obligated to act in your best interest. This ensures that their advice prioritises your financial success rather than their own earnings.

5. Transparent Fee Structure

Advisors are usually remunerated by commission. However we offer a fixed, transparent, fee structure for advice, whereas other firms charge a % fee on the money being invested which means you pay a higher fee the more money you invest.

6. Long-Term Relationships

Because independent financial advisors focus on individualised and a personalised service, we often develop long-term relationships with our clients. We work closely with you over the years, adjusting strategies as your financial situation and goals evolve.

7. Objective Investment Strategies

Without pressure to sell proprietary products, independent advisors can construct investment strategies based on sound financial principles and your specific risk tolerance, rather than pushing investments that benefit their firm.

8. Comprehensive Wealth Management

Independent financial advisors provide a broader range of services beyond investments, such as tax planning, estate planning, and risk management. This comprehensive approach helps you build and preserve wealth effectively.

Conclusions

Working with an independent financial advisor can offer peace of mind, knowing that you are receiving tailored, unbiased, and transparent financial advice. If you value personalised service and a commitment to your best interests, an independent financial advisor may be the right choice for you.

Are you considering working with an independent financial advisor? Take the time to research and find a professional who aligns with your financial goals and values. Speak to us at Brancaster House Financial Planning.

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We are pleased to announce we have launched our new equity release guide! 

Equity release has become an increasingly popular financial strategy among UK homeowners aged 55 and over, allowing them to unlock the value tied up in their properties without the need to sell or relocate. 

This approach provides access to a lump sum, regular income, or a combination of both, offering flexibility to meet various financial needs in retirement.

The Growing Popularity of Equity Release

Over the past decade, the equity release market has experienced significant growth. According to the Equity Release Council, there was a remarkable 450% market growth from 2013 to 2022 (LV Adviser).

This upward trend reflects a growing recognition of equity release as a viable option for enhancing retirement finances. In 2022, homeowners released £6.3 billion worth of equity, with an average release of £106,806 per customer (KeyAdvice).

The first quarter of 2024 saw 14,216 new and returning customers utilising equity release products, marking a 4% increase from the previous quarter (Equity Release Council).

This resurgence indicates renewed confidence among homeowners in leveraging their property wealth.

Introducing Brancaster House Financial Planning’s Equity Release Guide

At Brancaster House Financial Planning, we understand that making informed decisions about equity release is crucial. To assist homeowners in navigating this financial option, we are excited to announce the launch of our comprehensive Equity Release Guide. 

This guide is designed to provide clear, unbiased information on how equity release works, the types of products available, potential benefits, and important considerations to keep in mind.

What You’ll Find in the Guide

Understanding Equity Release: An overview of equity release, including lifetime mortgages and home reversion plans.

Eligibility Criteria: Information on who can qualify for equity release and the factors that influence eligibility.

Choosing the Right Plan: Guidance on how to a plan that aligns with your financial goals and circumstances.

Why Consider Equity Release Now?

The current financial landscape presents several favorable conditions for considering equity release:

Rising Property Values: Over the past decade, property prices have risen by nearly 50%, increasing the potential equity available to homeowners. thetimes.co.uk

Favorable Interest Rates: As of late 2024, the average annual percentage rate for equity release products fell to 6.47%, down from 7.48% a year earlier, making it a more cost-effective option. mpamag.com

Product Innovation: The equity release market has seen increased product availability and innovation, offering more tailored solutions to meet individual needs. mpamag.com

Download Your Free Equity Release Guide Today

Empower yourself with the knowledge needed to make an informed decision about your financial future. Download our free Equity Release Guide today and take the first step towards unlocking the potential of your property.

Download the Equity Release Guide

For personalised advice and to discuss your specific circumstances, contact Brancaster House Financial Planning at 01603 633344 or email info@brancasterhouse.co.uk. Our team of experienced advisors is here to help you explore your options and make the best choice for your retirement planning.

If you’ve changed jobs multiple times over your career, chances are you’ve accumulated several workplace pensions along the way. While this is completely normal, managing multiple pensions can be confusing.

You may be wondering what your options are and how to ensure you’re getting the most from your retirement savings.

If you’ve changed jobs multiple times over your career, chances are you’ve accumulated several workplace pensions along the way. While this is completely normal, managing multiple pensions can be confusing.If you’ve changed jobs multiple times over your career, chances are you’ve accumulated several workplace pensions along the way. While this is completely normal, managing multiple pensions can be confusing.Here’s what you need to know.

1. Locate Your Pension Pots

The first step is to track down all the pensions you’ve accumulated. If you’re unsure where to start:

Check old payslips and employment contracts – These may contain pension provider details.

Use the Government’s Pension Tracing Service – This free service can help you find lost pensions if you’ve changed jobs.

Contact previous employers – They should be able to direct you to the right pension scheme administrator.

2. Review Your Pension Plans

Once you’ve located your pensions, it’s time to assess them. Look at:

Fees and Charges – Some older pensions may have high management fees that eat into your returns.

Investment Performance – How well have your pension funds been performing?

Guaranteed Benefits – Some pensions come with valuable guarantees, such as a set annuity rate, that you wouldn’t want to lose.

3. Consider Pension Consolidation

Combining your pensions into one pot can make managing them easier and potentially reduce fees. However, consolidation isn’t always the right move for everyone. Before making a decision:

• Check for exit fees – Some older pensions have high transfer charges.
• Ensure you’re not losing valuable benefits – Defined benefit pensions or those with special guarantees might be worth keeping separate.
• Compare costs and investment options – Make sure the pension you’re transferring into offers competitive fees and good investment choices.

4. Keep an Eye on Your Retirement Goals

Now that you have a clearer picture of your pensions, ensure they align with your retirement plans. Ask yourself:

• When do I plan to retire?
• Do I have enough savings to maintain my desired lifestyle?
• Should I contribute more to a pension to boost my future income?

5. Seek Professional Advice

Managing multiple pensions can be complex, and making the wrong decision could cost you in the long run. A regulated financial adviser can help you:

• Assess your existing pensions.
• Identify the best course of action based on your individual circumstances.
• Maximise tax efficiency and investment performance, but within your risk tolerances
• Help create a plan and understand if you’re on track to achieving your retirement goals

Speak to us at Brancaster House

Having multiple pensions doesn’t have to be overwhelming. By locating, reviewing, and possibly consolidating your pension pots, you can take control of your retirement savings.

If you’re unsure what to do next, seeking professional financial advice can provide peace of mind and help you make informed choices for your future.

Want to speak to us? Book a free financial health check with one of our expert advisers here: https://www.brancasterhouse.co.uk/healthcheck 

Buying a home is one of the most significant financial decisions most people will ever make. Whether you are purchasing your first property, moving home, or investing in buy-to-let, securing the right mortgage is critical not only to your immediate plans but to your long-term financial well-being.

With so many lenders, rates, and product options available, navigating the mortgage market can feel overwhelming. That’s where working with an independent mortgage advisor can make a real difference.

At Brancaster House Financial Planning, we believe that expert, independent advice is essential in helping you secure the best possible outcome. Here, we explore the key benefits of working with an independent mortgage adviser; and why it could be one of the smartest decisions you make during the home-buying process.

1. Access to a Wider Range of Mortgage Products

Unlike advisers tied to a particular lender or panel, an independent mortgage adviser can access a broad spectrum of products from across the whole market. This means you are not limited to a narrow range of options — our adviser will find a mortgage that is truly tailored to your circumstances.

An independent adviser can identify competitive rates, flexible terms, and niche products that may not be available directly to consumers or through high street lenders. This breadth of choice can significantly improve your chances of securing a mortgage that fits your needs and saves you money over time.

2. Personalised, Unbiased Advice

An independent mortgage adviser works solely in your interests, not those of any specific lender. 

Their advice is completely unbiased, based on a thorough understanding of your financial position, property goals, and long-term plans.

At Brancaster House, our advisers take the time to get to know you; considering factors such as your income, credit history, employment status, future aspirations, and any potential complexities (such as self-employment, previous credit issues, or unusual property types).

This personalised approach ensures that the advice you receive is carefully aligned with your unique situation, rather than being driven by limited products or sales targets.

3. Saving You Time and Stress

Applying for a mortgage can be a time-consuming and often stressful process. From researching lenders to completing paperwork and managing communication, there are many steps involved – and mistakes can be costly.

An independent mortgage advisor streamlines the process for you. They handle the research, the application process, and liaise directly with lenders on your behalf. 

They also pre-empt potential hurdles by ensuring that your application is properly prepared and positioned, giving you a stronger chance of a smooth, successful approval.

For busy professionals, families, or anyone balancing multiple commitments, this support can prove invaluable.

4. Expert Guidance Through Complex Cases

Not every mortgage application is straightforward. If you are self-employed, have multiple income sources, own other properties, or are purchasing an unusual type of property, securing a mortgage can be more complex.

Independent advisers are experienced in navigating these situations. They know which lenders are more flexible, how to present your financial profile in the best light, and how to structure applications to overcome potential obstacles. 

Their expertise can often make the difference between a declined application and an approved mortgage.

5. Support Beyond the Mortgage Offer

The role of a good independent adviser does not end once you receive your mortgage offer. 

At Brancaster House, we stay with you through the entire process — from securing the initial agreement in principle to completion and beyond.

We provide support with understanding the terms of your mortgage, coordinating with solicitors and estate agents, and planning for future reviews. 

As your circumstances change, we can also assist with remortgaging or adjusting your arrangements to suit your evolving needs.

6. Greater Transparency Around Costs

Many people worry about the cost of using a mortgage advisor. However, independent advisors are required to be fully transparent about their fees. 

At Brancaster House, we provide clear, upfront information about how we are remunerated, so you can make an informed decision without hidden surprises. In many cases, the savings achieved through accessing better mortgage rates and terms can far outweigh the advisor’s fee.

7. Helping You Think Beyond the Mortgage

Mortgages are just one part of the broader picture of financial planning. An independent advisor can help you think holistically about how your mortgage fits into your wider goals, including protection, savings, and retirement planning.

For example, we can advise you on suitable life insurance, income protection, or critical illness cover to ensure your home is secure even if the unexpected happens. We can also work with you to build longer-term strategies for wealth accumulation and financial security.

8. Peace of Mind

Perhaps most importantly, using an independent mortgage advisor provides peace of mind. 

Knowing that a qualified professional is managing the process, representing your interests, and helping you make informed decisions can remove much of the uncertainty and anxiety often associated with home buying.

It allows you to focus on the excitement of finding your new home or investment property, confident that the financial side is in expert hands.

Book in for a chat with our mortgage advice team

Choosing the right mortgage is not just about finding the lowest interest rate; it is about selecting a product that supports your immediate needs and long-term financial wellbeing.

At Brancaster House Financial Planning, our independent mortgage advisors are committed to delivering personalised, impartial advice, ensuring that every recommendation we make is driven by what is best for you.

Whether you are buying your first home, moving to a larger property, or expanding your portfolio, working with an independent adviser can offer clarity, confidence, and real financial advantages.

If you would like to discuss your mortgage needs with one of our advisors, please request a free financial health check here:  https://www.brancasterhouse.co.uk/healthcheck 

With the Spring statement leaving the current ISA (Individual Savings Accounts) landscape unchanged, rumours are swirling that the Chancellor may reduce the amount people can pay into a Cash ISA to the £4k-£5k mark in the next Autumn Budget but will leave the Stock & Shares ISA at its current maximum rate of £20k.

Why would the chancellor make the change to the cash ISA but not the Stocks and Shares ISA?

Cash ISAs are delivering fairly favourable rates for savers, but the Chancellor needs to drive growth. One way of doing that is to encourage savers to put capital investments into stocks, bonds, mutual funds, and ETFs funds, which in turn invest into UK companies.

What is an ISA?

An ISA is a tax-efficient savings or investment account that allows individuals to save or invest money without paying Income Tax or Capital Gains Tax on returns. Each tax year, the government sets a contribution limit for ISAs, which is currently £20,000.

What is better for me – a Cash ISA or a Stocks & Shares ISA?

The best choice between a Cash ISA and a Stocks & Shares ISA depends on your financial goals, risk tolerance, and when you plan to withdraw money. Here’s a comparison to help you decide:

Cash ISA

Pros:

• FSCS protection: Up to £85,000 per provider is safeguarded.
• Easy access: Many options allow withdrawals without penalty.
• Tax-free interest: No tax on interest earned.

Cons:

• Lower returns: Interest rates are usually low and may not keep up with inflation. This means the value of your cash reduces over time.
• Long-term erosion: Inflation can reduce your money’s real value over time.
• Best for: Short-term savings, emergency funds, or if you prefer safety over sometimes volatile investments.

Stocks & Shares ISA

Pros:

• Higher potential returns: Historically, investing in stocks outperforms cash savings over the long term.
• Tax efficiency: No capital gains tax or dividend tax on earnings.
• Flexible investments: You can invest in stocks, bonds, funds, etc, all of which have different risk levels.Cons:
  Cons:

• Risk of loss: Market fluctuations mean your investments can go up or down.
• Longer time horizon: Ideally suited for at least 5+ years to ride out investment market volatility.
• Fees: Some ISAs charge management or trading fees.
• Best for: Long-term investing, retirement planning, or those willing to accept risk for higher potential growth.

If you need access to your money soon or want zero risk, a Cash ISA is safer. If you are saving for 5+ years and comfortable with risk, a Stocks & Shares ISA offers better growth potential.

Types of other ISAs

There are several types of ISAs available, each designed for different financial goals and risk appetites.

1. Lifetime ISA (LISA)

• Designed to help individuals save for a first home or retirement.
• Available to those aged 18 to 39, with a maximum contribution of £4,000 per year.
• The government adds a 25% bonus on contributions (up to £1,000 per year).
• Withdrawals before age 60 (unless for a first home) incur a withdrawal penalty.

2. Innovative Finance ISA (IFISA)

• Allows investment in peer-to-peer lending and other alternative finance arrangements.
• Higher potential returns but comes with increased risk.
• Not covered by the Financial Services Compensation Scheme (FSCS).

3. Junior ISA (JISA)

• A tax-free savings or investment account for children under 18.
• Two types: Cash JISA and Stocks & Shares JISA.
• Annual contribution limit of £9,000 (2024/25 tax year).
• Funds are locked until the child turns 18.

Benefits of ISAs

Tax Efficiency: No Income Tax or Capital Gains Tax on savings or investments.

Flexible Saving Options: Choose between cash savings, stock market investments, and alternative finance.

Long-Term Growth: Stocks and Shares ISAs and LISAs provide opportunities for capital growth over time.

Government Bonuses: LISAs offer 25% government contributions.

Transferability: ISAs can be transferred between providers or types (e.g., from a Cash ISA to a Stocks and Shares ISA).

How to Choose the Right ISA

Choosing the right ISA depends on your financial objectives and risk tolerance:

For short-term savings & easy access: Choose a Cash ISA.

For long-term investing with growth potential: Consider a Stocks and Shares ISA.

For first-time homebuyers or retirement planning: A Lifetime ISA is ideal.

For children’s future savings: Open a Junior ISA.

 Current ISA Contribution Limits and Rules

The total ISA allowance for the 2024/25 tax year is £20,000.

You can currently split contributions across different ISA types within the annual limit.

ISAs cannot be shared, but spouses/partners each have their own allowance.

Transfers between ISAs do not count towards the limit but must follow provider rules.

Frequently Asked Questions (FAQs)

1. Can I have multiple ISAs?

Yes, you can have multiple ISAs but can only contribute to one of each type per tax year.

2. What happens if I exceed my ISA allowance?

HMRC may remove excess contributions and apply penalties, so staying within the limit is crucial.

3. Can I transfer my ISA to another provider?

Yes, ISAs are transferable, but it’s important to use an ISA transfer form to maintain tax benefits.

4. What happens to my ISA if I pass away?

ISAs can be passed to a spouse or civil partner with tax benefits through an Additional Permitted Subscription (APS).

Conclusion

ISAs remain a powerful and flexible way to save and invest tax-efficiently. At Brancaster House Financial Planning, we specialise in providing tailored financial advice to help you maximise your ISA benefits and achieve your financial goals.

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Enjoyed this post? Stay inspired and informed by subscribing to our monthly newsletter, the Brancaster Bulletin! Get market insights, expert financial tips, and the latest updates and event info delivered straight to your inbox. 

Sign up here: https://www.brancasterhouse.co.uk/brancaster-bulletin 

In the UK, the Health and Safety Executive (HSE) sets out clear guidelines for when and how many first aiders are required in workplaces, as well as specific situations such as events. 

Workplace Requirements:

1. Low-risk environment for example office, retail and light industrial work

• For fewer than 25 employees, you generally need one appointed person who is responsible for first aid

• For 25-50 employees, at least one first aider trained in Emergency First Aid at Work (EFAW) is required 

• For over 50 employees, at least one first aider trained in First Aid At Work (FAW) should be available for every 50 employees. 

1. High-risk environments (e.g. Construction sites, factories with machinery, chemical use)

• These workplaces need a higher level of first-aid cover due to the increased likelihood of serious injury. The number of first aiders will depend on the specific risks and workforce size. You will generally need a FAW-trained first aider for every 50 employees, or possibly more depending on the hazard levels. 

1. Low-risk and High-risk Determination:

• If your workplace is low-risk, such as an office, one EFAW-trained person may be sufficient for up to 50 people.

• If your workplace is high-risk, you may need additional first aiders with FAW training and possibly additional provisions, such as emergency medical equipment.

  Number of Works on Site

  First Aid Personnel Needed

  Fewer than 5

  At least one Appointed Person

  5-50

  At least one First Aider trained in EFAW or FAW depending on the type of injuries that might occur

  More than 50

  At least one First Aider trained in FAW for every 50 workers

What to consider when determining the risk level of your work environment

When determining the risk level of your work environment in relation to First Aid requirements, consider the following factors:

Nature of Work and Hazards

• Are employees working with hazardous materials, chemicals or biological agents

• Is there a risk of cuts, burns, falls or crushing injuries

• Does the work involve manual handling, heavy machinery or power tools

• Are employees exposed to extreme temperatures, confined spaces or heights.

Workplace size and Layout

• How large is the worksite, lager areas may require more first aid stations

• Are employees working in remote or isolated locations

• How easy is it for emergency responders to access the workplace

  Number of Employees and Visitors

•   Higher employee numbers may increase the likelihood of accidents

• Consider temporary staff, contractors, and visitors who may also need first aid

First Aid Training and Equipment

• Do Employees have adequate first aid training

• Is there an accessible first aid kit with the correct supplies for potential injuries 

• Should the workplace have specialised equipment like a defibrillator 

  Specific Worker Requirements

• Are there employees with medical conditions such as diabetes, epilepsy, severe allergies

• Do any workers require special accommodations incase of an emergency

Do you need a First Aider by law?

Yes, employers are legally required to have first-aid provisions in place under the Health and Safety Regulations 1981. The law states that workplaces have adequate and appropriate first aid arrangements, but the specific requirements depend on the nature of the work and the number of employees.

Employers must ensure that there are sufficient first-aid provisions for their employees, this includes:

• First-aid kits that are well-stocked and appropriate for workplace needs

• First Aiders trained to respond in case of injury or illness 

In workplaces with fewer than 5 employees, the law does not require a formally trained first aider, but you must have an appointed person responsible for overseeing first aid arrangements. This person doesn’t necessarily need to be trained in first aid.

Who needs Risk Assessments:

All employers must carry out a risk assessment to determine the appropriate number and level of first aiders based on the workplace’s size, type of work and the potential hazard employees might face. 

The 3 main types of First Aid personnel 

EFAW Trained First Aider – Someone who has completed an 1-day Emergency First Aid At Work (EFAW) training course. This course provides individuals with the essential knowledge and skills to administer First Aid in the workplace. 

FAW Trained First Aider – People who are First Aid At Work Level 3 (FAW). This course is covered over 3 days and includes a wider range of topics including treatment for various injuries and medical conditions. This course is ideal for those working in a high-risk environment. 

Appointed Person – An appointed person is someone who is in charge of first aid arrangements such as first aid equipment and facilities, they are responsible for calling the emergency services if needed. They do not need to be trained first aider, but for added safety we advise that they are. 

Maintaining or replacing contents of a First Aid Kit

You must check your kit regularly and ensure the following steps are taken:

• Medications: Many first aid supplies, such as pain relievers, antiseptics, and bandages, have expiration dates. Always check and replace items that are expired.

• Aspirin, Ibuprofen or other pain relievers – These often expire after 2-5 years

• Antiseptics and Disinfectants – Check for signs of degradation, such as discoloration or solidification. 

• Bandages – Check for any moisture or damage to adhesive bandages, gauze pads or wraps, and replace anything that’s damaged or sticky. 

• Scissors and Tweezers – Ensure they remain sharp and rust-free

How Haswell Training can help you with your First Aid Training

While the need for a first aider can vary depending on the size and nature of your environment, it’s clear that having someone trained in basic first aid is essential for the safety of everyone involved. All courses are accredited by Qualsafe Awards and are Ofqual regulated, ensuring high-quality training standards.

Remember, accidents happen when we least expect them and being proactive about first aid training can save lives, prevent further injury and give you peace of mind. At Haswell Training we can give you peace of mind with our 1-day EFAW course or our 3-day FAW course. 

We’re thrilled to announce that The Space has been awarded a Level 5 Food Hygiene Rating—the highest possible score! (FHRS), reflects our commitment to outstanding food safety and cleanliness. 

A Level 5 rating means we meet excellent hygiene standards, comply fully with food safety laws, and maintain spotless, well-organised kitchens and storage areas.  

Our team is highly trained in safe food handling, ensuring that everything we serve is prepared with the utmost care. Plus, we keep detailed records of safety procedures, from temperature monitoring to cleaning schedules, to guarantee ongoing compliance. 

We couldn’t have achieved this without the hard work of our incredible Catering Manager, Laura—a huge thank you to her and the whole team for their dedication!