November 7th, 2025 | Andrew Hagger | News

Millions of Brits could be jetting off without valid travel insurance – simply because they didn’t realise they need to declare their medical conditions.

New research from Go.Compare found that almost a third of UK adults (30%) live with a medical condition, but fewer than half of these (48%) always declare it or double check what they need to disclose before travelling. The rest admit to taking risky shortcuts: one in seven (14%) have never bought travel insurance at all, while others “can’t find their illness on insurer lists” (9%), and skip declaring conditions because they are “worried how much it will cost” (5%) or simply “didn’t know they had to” (5%).

Perhaps most worrying, a quarter (25%) wrongly believe no medical conditions need to be declared when buying travel insurance – a misunderstanding that could see them left thousands out of pocket if they fall ill abroad.

The knowledge around declaring certain conditions and treatments is especially low – despite the popularity of weight loss injections and medications in recent years, only 10% believe they need to tell their insurer about them. Additionally, only 11% of people think their insurer needs to be aware of ADHD medication, and just 8% think menopause treatments need to be declared.

Rhys Jones, Go.Compare travel insurance expert, explains: “Your travel insurer needs to be aware of any and all pre-existing conditions you may have – and this includes things like weight loss injections and ADHD.

“As well as declaring any conditions that require ongoing treatment, you must tell your insurer about recent surgeries or conditions that you have finished treatment for, as well as mental health issues and any prescription medication you’re on.”

Older travellers more savvy, young holidaymakers most at risk

Go.Compare’s latest research shows younger Brits are far less aware of which medical conditions travel insurers need to know about. Just 22% of 16–24-year-olds knew that heart conditions must be declared, compared with 55% of those aged 55+. The same pattern runs across most conditions: only 13% of 25–34-year-olds realised that recent surgery needs to be disclosed, compared with 40% of those aged 55+.

Even chronic or common conditions are widely misunderstood. While over a third (39%) of those aged 55+ said diabetes must be declared, only one in seven (14%) under-35s thought the same. Women were slightly more clued up than men with 44% of women knowing heart conditions must be reported versus 31% of men.

Rhys Jones said: “Health issues can make life a little more complicated, but don’t let that stop you from having the holiday of your dreams! You can get specialist travel insurance which covers pre-existing conditions so you can jet off with peace of mind.”

He added: “Failing to declare a condition could completely invalidate your policy. If you need medical help abroad, the bill could easily run into tens of thousands of pounds. Honesty really is the best policy when it comes to travel insurance.”

Go.Compare’s top tips for getting the right cover before you fly:

• Be honest: Always declare any long-term health condition you’ve been diagnosed with, treated for, or prescribed medication for in the last few years.
• Check for changes: If your health changes after booking, tell your insurer (even dosage changes or new prescriptions can affect your cover)
• Don’t forget mental health: Anxiety, depression and stress-related conditions count, too
• Buy early: Take out travel insurance as soon as you book; you’ll be covered if you need to cancel due to illness or hospitalisation
• Shop around: compare specialist insurers online who cover a wide range of conditions, so you don’t pay more than you need to
• Know the real cost: Standard cover averages around £3 a day, but with a declared condition it’s around £5 – roughly the cost of a takeaway coffee, and far cheaper than a hospital bill abroad**

Rhys Jones, Go.Compare’s travel insurance expert, added:

“If you’re not sure what to declare, ask your insurer. There’s no shame in checking and a quick phone call could save you a fortune. Most conditions can be covered, and specialist insurers can tailor policies to your health. The key is honesty. Declare everything, and you can relax knowing you’re protected.”

October 31st, 2025 | Andrew Hagger | News

As the content creator economy continues to boom, more influencers and content creators are receiving free products, services or even holidays for exposure on social media.

However, Lee Murphy, Managing Director of The Accountancy Partnership, specialist accountants for freelancers, influencers and the self-employed, states that anyone who receives a free product or service, with the obligation to post about it, should be paying HMRC. Getting it wrong could cost content creators far more than the product was worth.

Murphy states:

“If you receive something for free and the brand doesn’t expect anything in return, it’s not taxable. It’s a bit like getting a present from your Grandmother; she gives it to you because she likes you, not because she wants a shoutout on Instagram.

However, if there’s an agreement that the creator will post the product or service on their social media to advertise it, then the value of the item or service is classed as income and must be declared to HMRC. It’s considered a form of payment, just not in monetary terms.”

How to work out tax on gifted items:

1. Determine whether something is truly a gift

“If the brand gives you something with absolutely no expectation of promotion of it, then it’s a genuine gift and not taxable. However, if you must first agree to posting about it, tagging the brand or featuring the product or service in any of your content, then it’ll be classed as business income.”

2. Find the market value

“HMRC expects influencers and content creators to declare the normal retail price of the item or service. If it’s on sale, you still need to declare the normal face-value price.

For example, if you are given a £100 meal for free in exchange for talking about your experience at a restaurant, then you need to declare £100 as income in your accounts.”

3. Record and declare it properly

“Keep records of all your gifted items and experiences, similarly to how you would with any cash payments or payslips from a job. You can then add the value of taxable gifts to your income when completing your Self Assessment tax return.”

4. Deduct allowable expenses

“If you incur costs to create the content, such as editing software, or transport to get to a restaurant or airport, then these may be deducted as a business expense to reduce your tax bill.”

Murphy adds that the rise in brand partnerships has blurred the line between genuine gifting and commercial deals, but HMRC is taking notice of this.

“Influencers are businesses; some people do this as their full-time role. Even if the accounts start as hobbies, if you receive any type of gifted product in exchange for posting about it, then you need to treat it as income. It’s better to be honest with HMRC as the fines could outweigh what the gifted products would’ve been worth.”

October 30th, 2025 | Andrew Hagger | News

New research has revealed that UK households which leave their appliances on standby when not using them could be wasting £80 per year on their energy bill.* It’s estimated that this is equivalent to around £2.3 billion being lost nationwide if all homes are making this error, highlighting that households could be wasting a small fortune without even realising it.**

The data comes from Go.Compare Energy, which estimated the costs of leaving 11 popular household devices on standby for 20 hours per day. It applied the latest energy prices to each device’s energy usage while on standby, before calculating how the daily costs add up over the course of a year.

This follows another increase to the energy price cap from 1st October 2025, with the average annual energy bill for a UK household rising by 2% from £1720 to £1,755. Now, Go.Compare is reminding homes to turn off devices that aren’t in use in order to help keep costs down.

The biggest “vampire appliance” was found to be set-top boxes, which can cost users around £33.59 per year if left on standby for 20 hours per day. This could be because these boxes often remain connected to the internet when not in use, so that they’re ready to record programmes and download updates.

TVs were found to be the second most costly device to leave sitting on standby. The comparison site says that failing to turn televisions off at the wall costs around 3p per day, but this adds up to around £9.50 over a year. Laptops were close behind as the third biggest vampire appliance, costing £7.59 per year to leave on standby.

But the comparison site warned that it’s not just high-tech devices causing this. Kitchen appliances like microwaves and coffee machines can add up if left on standby, too, as many modern models are fitted with digital displays.

Microwaves were revealed as the fourth most expensive appliance to leave on standby, adding £6.64 to yearly energy bills, while coffee machines add £5.69. Other devices on the list include games consoles, DAB radios and soundbars.

Annual cost of leaving household devices on standby for 20 hours per day (by device)

Nathan Blackler, energy spokesperson at Go.Compare, said: “It’s well known that leaving appliances on standby mode can put needless strain on your energy bill, but our latest research highlights just how much it can cost over the course of a year.

“It’ll cost a home around 22p per day to leave all of these devices on standby. While that doesn’t sound like much, it really adds up over a year, and we all know that every little helps when it comes to cutting costs, especially on the back of another rise in the energy price cap. In fact, turning off these devices at the wall will save you enough to cover your Netflix subscription for a year.”***

“We’d always encourage homes to switch off and save when they can, as it can be a big boost to both their wallet and the environment. Devices like televisions, coffee machines, laptops and games consoles can be safely turned off at the wall when not in use, so it’s wise to get into the habit of doing this to avoid wasting power.”

More energy-saving tips can be found on Go.Compare’s website: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/

October 29th, 2025 | Andrew Hagger | News

When it comes to purchasing property, be it your first or fifth, you can lose hours, if not days, scrolling through listings looking at “bright spacious kitchens”, “sun-filled south-facing gardens”, or homes with “potential in need of modernisation” and after a while they all start to blend into one and they start to sound the same. 

And when you go to see one in person, it’s nothing like the pictures or the description, and you’re left understanding if you’re even speaking the same language and end up Googling “how to translate estate agent speak”

Buying a home isn’t easy, nor should it be, and there’s a lot to consider, from potential planning and calculations for future developments, interest rates, and whether you’ll like your neighbours or can park your home without upsetting anyone.

Let’s take a look at what to think about before you buy your next property.

Remove Fantasy, Think Real Life

Forget those “nice to haves” and the wish list demands. When looking for a new property, you need to be realistic about how it will fit your life. Is it on the school run, or will you need to leave half an hour earlier to get there? Sure, the postcode is desirable, but if you can’t get to the local shops for a pint of milk or some dog food when you run out, is it such a great location? 

Is the foot traffic high? Are you on transport routes? Does the layout work for you? It can be all too easy to fall for the dream property in the wrong location, and suddenly, when you own it, the realisation hits you.

You want a local estate agent who knows the area and helps you uncover how the new place will work for you before you put in an offer. You need people on your side to find a suitable property for sale based on your needs, not just your wants, and ensure you are not making a huge mistake.

Look Past The Glitter 

You know the “glitter”, the bits of the listings that make the property sparkle and stand out. Every seller wants their property to look its best, but presentation isn’t the same as condition, and the presentation is what gives a property the “glitter” to make it stand out.

When going to viewings, look past the new features. A new kitchen can hide faulty wiring, and fresh paint can cover damp. Look past the surface and try to see what’s lurking beneath. Open cupboards, check room temperatures, look at the window frames and how doors close. It’s not the fun bit, but it’s what will help you make the right decision.

Think Future

When buying your next property, think about the future. Is your plan to live here forever? Or just for a few years? Are you planning to grow your family? Will your working situation change? Is there enough space if you suddenly need to work from home? Can you grow into the property?

These are important questions to ask, as well as uncovering any potential plans for the neighbourhood. Is there any new building work in the pipeline that might impact your property, i.e., a new development that overlooks you? The more you know, the more you can determine if it’s going to be the right move or a huge mistake.

October 28th, 2025 | Andrew Hagger | News

As the seasons change, autumn provides the perfect opportunity to take stock, re-evaluate spending habits, and prepare for the financial year ahead.

According to Google Trends data, searches for the term “financial reset” have surged by 100% since the beginning of October, showing that more people than ever are looking to refresh their finances as the colder months approach.

Christie Cook, Managing Director of Retail at Hodge Bank, believes this growing interest highlights a wider mindset shift among consumers.

“Much like a spring clean, an autumn financial reset can help people regain control and feel confident about where their money is going, and with the cost of living still a concern for many, taking small, proactive steps now can make a big difference later in the year.”

Christie shares five expert-backed ways to refresh your finances this autumn:

• Review your regular outgoings

“Start by checking your direct debits and subscriptions. Many of us forget about small recurring payments, such as streaming platforms and monthly app fees, which can quietly eat into disposable income. Reviewing and cancelling unused services can free up extra funds immediately.

“This is something we have highlighted in the past as ‘bill shock’ fees, where small, incremental increases can have a bigger impact on your disposable income than larger outgoings.”

• Make the most of higher savings rates

“With interest rates still higher than in previous years, savers can take advantage of competitive fixed-term or notice accounts. If your savings are sitting in an account with a low rate, you may be missing out on valuable returns. It’s could be worth shopping around, even small percentage differences can add up over time.”

• Prepare for higher winter bills

“Energy costs typically rise during colder months, so factor this into your budget early. Consider setting aside a small ‘winter buffer fund’ to spread the cost of heating and festive spending across the season.”

• Refresh your financial goals

“Autumn is an ideal time to review longer-term goals, like saving for a home deposit or building an emergency fund. Revisit your priorities and make sure your savings strategy reflects your current lifestyle and ambitions, even a small monthly adjustment can help you stay on track.”

• Embrace mindful spending

“With the festive period approaching, be wary of falling into impulsive spending habits. Try the 24-hour rule before making non-essential purchases. If you still want it the next day, it’s probably a worthwhile buy. This simple technique could help you make more considered choices.”

“Autumn is a time of transition, and that applies to your finances too. Taking more control now can help you head into the new year feeling more confident, less stressed, and better prepared for whatever comes next.”

October 24th, 2025 | Andrew Hagger | News

Starting to plan your finances can feel overwhelming, especially if you’ve never really taken the time to think about your future financial goals.

The good news is, once you break it down into manageable steps, it doesn’t have to be complicated. With a little time and effort, you can set yourself up for success and feel more in control of your money.

Assess your starting point

Before you can make any significant progress, it’s crucial to understand where you currently stand financially. Take an honest look at your income, expenses and debts. Start by tracking how much money is coming in and going out each month. Are you saving regularly or does it feel like you’re just getting by?

If you’re not sure where to begin, you might find it helpful to seek advice from a professional in wealth management. They can help you assess your financial situation and create a baseline for your planning.

Define your goals

Financial goals vary from person to person, so it’s important to define your own. Are you aiming to save for a down payment on a home, build an emergency fund or start a retirement savings plan? Maybe you want to travel more or take a sabbatical in a few years?

Be clear and specific. Rather than just saying, “I want to save for a luxury trip,” break it down into actionable amounts and timelines. The clearer you are, the easier it will be to create a roadmap to get there.

Build a plan

You need to decide how much money you’ll need to reach each goal and then figure out how to allocate your resources. Start by looking at your budget and see if you can increase your savings. There might be areas where you could cut back on spending to redirect funds toward your goals.

If you’ve already begun saving, think about whether your savings are in the right place. For example, if you’ve been keeping money in a low-interest savings account, you might want to consider higher-yield options, such as stocks, bonds or a pension scheme.

Choose your investment or savings strategies

Depending on your goals, different investment or savings strategies will be suitable.

For short-term goals, like saving for a house deposit, you might want to keep your money in a savings account or a low-risk investment. For long-term goals like retirement, investing in stocks, shares or pension funds can help you achieve better returns.

Make sure to understand the level of risk you’re happy with. If you’re just starting out and feel uncertain, it might be wise to begin with safer options. But if you’re looking to grow wealth over time and are comfortable with the potential ups and downs of the market, you might consider riskier investments that offer higher rewards.

October 24th, 2025 | Andrew Hagger | News

Running a family office is a wonderful thing. To be able to do business as a family and to have a company that funds the life and lifestyles of the family is a blessing for many who get to do it.

However, it can have its challenges, especially when it comes to the management of wealth over time and through generations of the family, whether they’re still alive or not.

With that in mind, here are some of the hidden challenges that family offices face when managing wealth across generations.

The emotional side of money management no one talks about

The emotional side of money management, especially one that’s run as a family business, can be hard to manage. The identity of family members is tied to the business, and that can lead to anxiety about financial instability and pride.

The heaviness that comes with being responsible for funding everyone else within the family that’s involved can also be an incredible challenge.

There are unspoken aspects, too, like having to have difficult conversations surrounding financial issues. There’s often a blurring of lines between family relationships and business roles. This can lead to a loss of trust, compromised decision-making, etc.

Family business mistakes when managing wealth and business

A family business will often make mistakes when managing its wealth. Here are five challenges and mistakes that family businesses will often make.

1. Poor succession planning

It’s important that you’re not waiting too long for leadership transitions, as this can create conflict and confusion. It’s also important to do this for the purpose of sorting the finances, making sure family members who are stepping down or moving up are being financially compensated accordingly.

2. Lack of clear roles

A lack of clear roles can often confuse those family members and therefore lead to the wrong instructions being given to management, which could cost a lot of money in mistakes and errors. A family office needs to have everyone singing from the same hymn sheet, so everyone must know who is who.

3. Hasty decisions

Making quick investment decisions can be problematic for businesses. That’s why it’s important not to make them too hastily and to ensure every financial decision is discussed at length.

4. Financial secrecy

Keeping wealth planning a secret from some family members might lead to suspicion and resentment. It’s why it’s important to do what you can to be open with your business partners and family members alike.

5. Blending personal and business assets

Not structuring assets properly can lead to exposure of a family’s personal wealth. That could lead to business liabilities, particularly when it comes to digital assets. 

Building a long-term culture of trust and accountability

It’s important to build a long-term culture of trust and accountability within the family business. You should start success planning early and make sure every family member is informed of the potential changes that may be coming.

Be sure to define relationships and ensure everyone knows their roles and duties clearly. A comprehensive financial plan can be useful to have, too, especially if you’re looking to create a long-term strategy for your family business success.

October 22nd, 2025 | Andrew Hagger | News

Owning a car comes with its fair share of financial responsibilities. No driver should be surprised by that fact. However, the various situations you can get yourself in, and the costs that come with them, can get very varied indeed. If you want to make sure that you’re never caught off guard, here are a few financial emergencies you should prepare for.

Accidents And Collisions

Even the most careful drivers can find themselves in accidents through no fault of their own. The financial stress that comes with repair costs, towing fees, rental car expenses and the like can be a serious concern. Aside from having comprehensive auto insurance, you should make sure that you make a habit of documenting the scene and consider using a dash cam that can prove your side of the story when making a claim or seeking legal help.

Major Mechanical Breakdowns

Something like a blown transmission or engine troubles can leave you stranded, looking forward to repair bills that you have to face. Having to call out a tow truck can be expensive, while having breakdown coverage can make sure that you’re back up on the road, or at least given a lift, until your car comes back from the shop. Regular maintenance can greatly reduce your chances of being caught by surprise by a breakdown, too, but you should budget for repairs each year regardless.

Getting Sent To The Impound

If you find out that your car has been impounded, then you need to act fast. The costs can begin to build, including impound fees, daily storage charges, and even release costs. These can be offset with the help of impound release insurance, making sure that you can get your car back out on the road as soon as possible. Then, you can clear up the costs with the insurer, without worrying about continuously adding charges.

Theft And Vandalism

Criminals can strike your car without warning, meaning you might have to pay for repairs, replacements, or to recover your car. Comprehensive car insurance covers these kinds of losses, so you need to seriously consider the risk, especially depending on where you work or live. Anti-theft devices can also help keep your car more secure, as can parking it in highly visible areas.

Legal And Liability Expenses

If you are found to be at fault, or at least in dispute, in an accident or over some damages, then the fees can add up quickly. Liability coverage on your insurance can help protect your finances to some degree. However, you should keep some funds set aside for legal consultation, especially if you’re on the road a lot, like for your job. The more you drive, the bigger your chances of being involved in an accident, so prepare accordingly.

The above list is by no means a comprehensive breakdown of all the different unexpected costs that can come with owning a car, but hopefully, it gives you a good idea of the preparations you should be putting in place to protect yourself, your wallet, and your wheels.

October 21st, 2025 | Andrew Hagger | News

Your employees will be the heart of your business, and nothing gets done without them putting the time and effort into their work. But, they mightn’t always work as well as they should. You could need to motivate your employees to be even more productive.

As much as you might know this, you mightn’t be sure of what to do. You could’ve tried a few motivation strategies, but they mightn’t have paid off nearly as much as you’d want.

Thankfully, figuring this out doesn’t need to be nearly as complicated as you could think. A few specific strategies could help with this quite a bit, and they shouldn’t have to be too complicated to implement. Three of them could help with your employee motivation.

Give Them Autonomy

Nobody wants to feel like they’re being micromanaged, either from a manager, supervisor, or the business owner themselves. It ends up with them getting irritated, being less productive, and even considering working elsewhere. Don’t let that happen with your employees.

You hired them for a reason, so you’re a lot better off giving them a certain amount of autonomy and letting them do their jobs. In time, you can give high-performers even more autonomy to motivate them even more, and it should pay off in time.

Reward Them

Rewarding your employees for a job well-done is always a great approach to take, as it motivates them to do better and better. You just need to figure out how you’ll reward them. There are plenty of ways you can do this, like with hamper baskets full of the right gifts.

It’s just a matter of figuring out what your employees will appreciate the most. That way, you shouldn’t have a problem motivating them. While that could mean spending a little money on these rewards, the uptick in productivity and work should be more than worth it.

Facilitate Respectful Relations

Respect plays a vital role in the workplace, and employees aren’t going to be too motivated if they don’t feel respected. Put the time and effort into building respectful relations as much as you can. It should have much more of an impact than you might’ve thought.

To do this, it’s just a matter of showing respect to your employees and colleagues while expecting the same in return. Proper, respectful communication is a key part of this. With the impact it has, you’ve no reason not to put the time and effort into it.

You’ll want to motivate your employees to work as productively as possible. But, that doesn’t mean just pushing them as hard as you can and leaving it at that. This mightn’t work nearly as much as you could think, and it could even push your employees away.

By focusing on the right strategies, though, there’s no reason why you shouldn’t boost your employee motivation. It’s just a matter of actually putting the time and effort into them from the start. You’ll see the benefits for your business before you know it.

October 21st, 2025 | Andrew Hagger | News

With the Autumn Budget fast approaching, attention is turning to how the Chancellor will respond to ongoing economic pressures and growing calls for financial support. For many households, the past year has been marked by persistent cost-of-living challenges, fluctuating inflation, and uncertainty around interest rates.

Against this backdrop, there is heightened anticipation around the policies and priorities that will shape this year’s Budget.

Christie Cook, Managing Director of Retail at Hodge Bank, believes the Autumn statement will be pivotal in setting the tone for both immediate household support and longer-term financial resilience, sharing five key themes she expects to see at the forefront of this year’s announcement.

• A Continued Focus on Inflation and the Cost of Living

“Inflation may be easing, but its effects on household budgets are still very real. We are expecting that the budget will continue to place a spotlight on cost-of-living support, particularly for lower- and middle-income households. The challenge for policymakers is finding measures that balance short-term relief with long-term economic stability.”

• Incentives to Save and Build Financial Resilience

“Encouraging people to save has been an ongoing theme for successive governments, and it wouldn’t be surprising if we see new initiatives to boost household savings rates. The ongoing commentary from the Chancellor has been the possibility of limiting Cash ISA allowances, therefore there is a likelihood that the Autumn Budget will encourage individuals to utilise Stocks and Shares accounts.

“Whether through tweaks to ISAs, or broader savings schemes, there’s growing recognition that helping people to prepare for financial shocks is vital in today’s uncertain climate.”

• Housing and Homeownership Under the Microscope

“Housing has rarely been far from the political agenda, and the upcoming Autumn Budget will be no exception, it’s an area that may receive significant attention.

“From support for first-time buyers to reforms in stamp duty, I’d expect the Budget to address accessibility and affordability in the housing market, which continues to be a pressing concern for many.”

• Tax Adjustments on the Horizon

“Taxation will always be a focal point in any Budget. While sweeping tax reforms are unlikely, we may see adjustments aimed at easing pressure on working households or stimulating business investment. Even small changes can have ripple effects on people’s disposable income and savings behaviour.”

• Long-Term Financial Planning in Focus

“Beyond immediate cost-of-living pressures, the government will likely want to highlight long-term financial resilience. That could mean revisiting pension policies or reinforcing the importance of saving for retirement.

“With an ageing population and younger generations struggling to build wealth, it’s an area that demands forward-thinking solutions.”