In the latest Attwaters’ Private Wealth Guide, we explore how AI is reshaping productivity, public services and long-term growth strategy – and why the infrastructure powering it now deserves equal attention.

AI is also being positioned as part of the climate solution. One study suggests AI-enabled efficiencies could help reduce global greenhouse gas emissions by several billion tonnes annually by 2035. Yet as adoption accelerates, so too does the environmental footprint of the systems that make it possible – particularly at a local level.

Troubled waters?

The tech that underpins AI requires massive volumes of processing power housed in equally massive data centres. These facilities often consume large quantities of water to prevent overheating. Some experts estimate that a typical data centre can use millions of litres of water per day, particularly in facilities using evaporative cooling systems. In some cases, annual water usage has been compared to that of tens of thousands of households.

With the number of data centres in the UK predicted to increase by around 20% this decade, concerns are growing about the impact on local communities. Parts of the UK, especially the south where many data centres are located, are already under threat of water shortages due to climate change and population growth.

Powering AI: the grid challenge

It’s not just water consumption that’s a potential concern: AI data centres can also put added strain on local power grids. The way AI tech works means there are frequent spikes in energy consumption, which are equivalent to thousands of homes switching kettles on and off in unison every few seconds.

Industry pundits are already warning that the AI data centre energy drain needs to be carefully managed to prevent issues with supply and demand. The National Energy System Operator estimates that UK data centre growth could add 71 TWh (terawatt hours) of electricity demand over the next 25 years.

Just the job for growth

The UK government continues to position AI as a cornerstone of economic growth and productivity. More than half of proposed UK data centre developments remain concentrated around London and neighbouring counties, including Hertfordshire and Essex.

Projects such as the multi-billion-pound hyperscale facility approved in Potters Bar have attracted both strong local opposition and strong economic backing. Developers argue that such facilities can deliver long-term investment, high-skilled employment and biodiversity enhancements. Community groups, meanwhile, continue to raise concerns around water security, energy demand and land use.

In Essex, large-scale AI infrastructure backed by major global technology firms is expected to support hundreds of jobs once fully operational. Across the UK, the data centre sector now supports tens of thousands of roles directly and indirectly – and that number is projected to grow as AI capability expands.

AI in action: public sector impact

While infrastructure pressures dominate headlines, AI’s operational benefits are increasingly tangible.

Government departments have reported recovering hundreds of millions of pounds through AI-enabled fraud detection systems. In healthcare, NHS trials of AI-assisted clinical documentation tools have demonstrated meaningful reductions in administrative burden – in some cases allowing clinicians to spend significantly more time with patients.

Learning to live and thrive with AI

AI is not a passing trend. It is becoming foundational infrastructure – similar to broadband or electricity in earlier decades.

The question for 2026 is no longer whether AI will shape the future. It is whether our physical infrastructure, policy frameworks and investment strategies are evolving fast enough to support it responsibly.

You can explore more analysis like this in our latest Private Wealth Guide and across our social channels using #PrivateWealthGuide.

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In our latest Private Wealth Guides, we revealed how the typical asking price for a ‘fixer-upper’ property can be around 10% lower than the national average.

The chance to bag a bargain is proving a big draw – especially for first-time buyers. Just over two-thirds of people in rented accommodation are eager to take on fixer-uppers to get on the housing ladder, compared with 54% of existing homeowners. Saving money is the main driver for 73% of renters, while homeowners see it as an opportunity to create their perfect pad.

Understand the risks and rewards

For developers, fixing and then flipping a property can result in a rapid return on investment. The average gross profit on renovated properties resold within a 12-month period was £22,000 in the first quarter of 2025, according to data from one estate agent.

Regardless of your motivation, it’s important to consider the pros and cons of purchasing a doer-upper as there can be hidden costs – especially with potential changes to stamp duty looming. Here are some tips to help you decide if a property renovation project is right for you.  

The price is right – or is it?

Get the spreadsheets ready: there are a lot of careful calculations to make before taking the fixer-upper plunge. First up, the price of the property. Whether you’re planning to love it or list it, take time to research the prices of similar properties in the same area – both before and after renovation. It’s also important to check if the local housing market is rising or declining and to consider factors, such as planned developments or improved transport links, that could impact prices in the future.

Next, it’s renovation budget time. Costs will vary considerably depending on the state of the property, the scope of your project – and your DIY expertise! One construction company estimated the average renovation outlay at between £76,900 and £138,800.

With the price of materials and labour on the rise, it’s important to factor in small details as well as big ticket items, such as replacing old windows or boilers. A property that is structurally sound will normally be easier and cheaper to renovate, but it’s still important to have a contingency fund.

If you need a mortgage to help finance your fixer-upper ambitions, then remember that most lenders will only approve applications for habitable properties, which usually means they must have a kitchen and bathroom.

Location, location, location

Some areas are more popular than others for fixer-upper projects – especially if you want to remarket a property quickly. In the first quarter of 2025, 61% of flipped properties were located in the Midlands, North of England or Wales, where more homes fall under the current stamp duty threshold.

Higher prices in the South East, East of England and London mean flipping rates and profits have declined. It’s estimated that the average investor’s return from a property in London after paying stamp duty is now likely to be 8% lower than before.

Home sweet home

Properties that require doing up can be an opportunity to create the home that you’ve always wanted. From doors to floors, you can personalise as much or as little as you want – just don’t be put off by any existing fixtures or fittings, such as coloured bathroom suites or patterned carpets.

You could also consider improvements that make your home greener and cheaper to run. Nearly 60% of renters and homeowners believe taking on a renovation project would enable them to make a property more energy efficient, which could help to reduce living costs in the future.

Ready to take the renovation plunge? The residential property team at Attwaters can provide personalised conveyancing support. Get in touch today on 0330 221 8855 or complete our online form for a conveyancing quote.

You can find more articles like this in our Private Wealth Guides and on our social media pages under the hashtag #PrivateWealthGuide.

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For some this belief is so strong that they would be prepared to quit their job on a matter of principle. Nearly 60% of working adults in the UK would contemplate resigning if their employer rolled back its EDI commitments, according to one survey.

Gen Z and millennial workers are the most likely to leave due to a lowering of the EDI bar, along with employees from Black, Asian and ethnic minority backgrounds.

Employees call for an even stronger focus on EDI 

A mass exodus of employees on EDI grounds is currently unlikely as 92% of respondents described their workplace as inclusive. Despite this vote of confidence, 45% of working adults still think employers could up their EDI game.

Adopting a progressive approach to EDI is not only good for retaining talent; it could help organisations attract new employees too. Nearly 70% of workers say EDI is an important factor when considering a position with a new employer.

Big business leaders out of step with workers

The survey also revealed a potential disconnect between employees’ attitudes and leaders’ strategies. Only 3% of workers think companies should scale back their EDI approach. Yet this could already be on the agenda for some bosses.

A separate analysis of FTSE 100 annual reports in 2024 showed an 8% drop in the number of words associated with EDI. Companies with a lower market value, however, appear to be doing the exact opposite, with EDI related phrases in FTSE 250 annual reports increasing by 10%.

When executed well, EDI policies can make a big difference to people’s careers. Another survey revealed 48% of Brits think attempts to promote EDI extends opportunities to those who deserve it. The same number feel EDI training improves the workplace experience for those groups that might face discrimination. 

Meet the local trailblazers

At Attwaters, we believe diverse teams result in diverse ideas, which is why we promote an inclusive culture where people feel empowered to share their views. In our latest Private Wealth Guides, we highlighted two other local companies who are also leading the way on EDI.

Essex-based Valor Hospitality Europe has been recognised as one of the best places to work for disabled employees. While in Hertfordshire, Iconic Smiles was praised as a supportive employer for ethnic minorities. Discover more here about why both companies were highly commended for their EDI efforts in this year’s Sunday Times Best Places to Work survey.

You can find more articles showcasing local award-winning businesses in our Private Wealth Guides and on our social media pages under the hashtag #PrivateWealthGuide.

* The term EDI has been used in place of DE&I and DEI for consistency when referring to research findings

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Inflation coupled with the government’s VAT reforms are being blamed for the financial squeeze facing schools – and parents. A recent analysis shows that it could cost at least 85% more to send future generations of children to private school.

School term fees increase 22% in a year

In the latest Attwaters Private Wealth Guides, we looked at how headteachers were responding to the financial challenges. According to reports, some schools reduced their fees in an attempt to take the sting out of the 20% VAT price hike. However, parents are still facing bigger bills overall.

Data from the Independent Schools Council shows private school fees were 22% higher in January 2025 compared with a year ago. The average cost per term for a day school is now just under £7,400 including VAT.  

Inflation is expected to continue to push up fees in the future. This means parents enrolling a child into a reception class in 2025 could end up paying around £377,000 to keep them in private education until their A-Levels. Add boarding into the mix and the costs rise to approximately £763,000.

A third of private pupils receive financial support

For some families, it’s too high a price to pay. The annual ISC census found pupil numbers were already down by 2% in January 2025 on the previous year. The new intake at schools that completed the census in 2024 and 2025 also fell by 5%.

Despite the economic challenges, independent schools have continued to invest in bursaries to help make fees affordable for more families. The 2025 census revealed that around a third of all independent school pupils now receive financial support. This equates to more than £1.5 billion – an increase of 11% on the previous year.

State schools face bigger influx of pupils

Even if you don’t have children at private school, the fallout from the changes could still impact your family. When the government introduced the new VAT rules, it predicted that 3,000 children would be displaced from independent schools into the state system.

According to the ISC, the number that have moved this year is already four times higher. This has prompted concerns that the state system won’t be able to cope with the influx – especially if pupils have Special Educational Needs and Disabilities (SEND). The 2025 ISC census found that one in five pupils attending private schools require SEND support – an increase of 6% on last year.

You can find more articles like this in our Private Wealth Guides, which highlights some of the top independent schools local to Essex and Hertfordshire. You can also head to our social media pages, where we publish the content from the guides with the hashtag #PrivateWealthGuide.

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In the latest Attwaters Private Wealth Guide, we highlighted two places featured on The Sunday Times Best Places to Live shortlist for 2025: Berkhamsted in Hertfordshire and Saffron Walden in Essex.

In the guide, we explored how living in both towns could boost your social and cultural life. In this blog, we look at why Berkhamsted and Saffron Walden are good practical choices too.

Travel around with ease

Berkhamsted and Saffron Walden are popular bases for people that need to commute to larger hubs for work.

Although Saffron Walden was named as the overall best place to live in the UK in 2025, the historic Essex market town doesn’t have a central train station. The nearest main line station is located about two miles away in Audley End, which connects travellers to Cambridge in around 40 minutes and London in under an hour.

Saffron Walden is situated near to the M11, which means Cambridge and Stansted Airport are about 30 minutes away by car. The airport is even closer when travelling by train: direct services take just 20 minutes.

Berkhamsted also boasts good road and rail links. Located near to the A41 and M1, you can drive to Luton or Watford in about half an hour. The train commute to London takes a similar time with four direct services to Euston per hour. As well as being well-situated for Luton Airport, the Hertfordshire market town is a 45-minute drive from Heathrow.

Home in on property prices

The jury is out on the average property price for both towns. The Sunday Times puts it at approximately £750,000 for Berkhamsted and £607,000 for Saffron Walden while estate agents cite lower figures of around £695,000 and £450,000 respectively. Either way, the cost of property in both locations is well above the national average of £270,000.

According to estate agent data, a detached property in Berkhamsted will set you back around £1.2 million while the average price for the same type of house in Saffron Walden is almost 50% lower at just under £670,000. With both locations seeing a decrease in prices over the last year, there could be the potential to pick up a bargain. 

Top of the class for schools

For families, a choice of good state and independent schools can be a major factor when selecting a new home town.

Saffron Walden boasts four outstanding schools spanning all age groups; none of its schools have an inadequate or needs improvement rating from Ofsted. The historic town is also served by several independent day and boarding schools in Bishop’s Stortford and Cambridge.

A number of state primary schools and academies in Berkhamsted have been rated as good by Ofsted with one outstanding junior and grammar school. The town is also home to an award-winning independent school, which takes children from aged three through to sixth form.

More private wealth content

If you have found this article interesting, you can find more like this in our Private Wealth Guide. Or, follow us on social media, where we publish all our private wealth content using the hashtag #PrivateWealthGuide.

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The rules around gifting and IHT can be very difficult to follow – especially when the goal posts keep moving. The government announced a number of IHT changes in last year’s autumn statement, and speculation is mounting that IHT and lifetime gifting will once again be in the budget spotlight on 26 November 2025.

Current allowances and exemptions

IHT is payable after a person’s death – although this depends on the value of your estate and your beneficiaries. As explained in the latest Attwaters Private Wealth Guides, lifetime gifting can help to minimise tax liabilities in various different ways.

Under current rules, everyone is entitled to a £3,000 annual exemption. This means you can give away a total of £3,000 worth of gifts – to one individual or split between several people – each tax year without any IHT implications. If the full allowance isn’t used in one tax year, it can be carried forward for one year.

You can also give up to £250 worth of gifts to multiple recipients in each tax year, as long as they are not already the subject of another allowance.

Early lifetime gifting can reduce tax liabilities 

Gifts with a value above £3,000 are only subject to IHT if the donor dies within the next seven years. This exemption applies to financial sums as well as other assets, such as business shares, antiques and properties. 

When a donor dies before the seven years are up, gifts are taxed on a sliding scale. Until year three, the standard 40% rate of IHT is payable; a ‘taper relief’ is then applied with the rate reducing each year from 32% to 8%.

If you start making lifetime gifts, or Potentially Exempt Transfers as they are formally known, in your 50s or 60s, this could reduce IHT liabilities by thousands of pounds.

Speculation about new IHT rules

At the moment, there’s no cap on the overall value of lifetime gifts but there has been speculation by the media and financial industry watchers that this might change in the autumn budget. There are also rumours that the seven-year rule and taper relief could be amended. Any of these suggested reforms could increase IHT liabilities.

Changes announced in last year’s budget to Business Property Relief and IHT have already prompted some individuals to take action before the proposed new rules come into force in April 2026. For example, it’s been reported that family-run firms are rearranging company structures and setting up trusts to try to minimise potential IHT payments in the future.

Review your gifting options

Exploring existing lifetime gifting options before reliefs or exemptions are changed could help to minimise the IHT payable on your estate.

If you want to learn more about the current rules, check out the latest Attwaters Private Wealth Guides or contact one of our private wealth specialists on 0330 221 8855, or enquiries@attwaters.co.uk, for expert advice.

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Legislative changes and market shifts mean that lifetime estate planning will never be a tick in the box activity. It needs to be revisited regularly especially when tax rules change – and there’s a big change on the horizon.

Pensions no longer exempt from inheritance tax

From 6 April 2027, the majority of pensions will be subject to inheritance tax. This means any unused funds, death benefits and even lump sum payments into a by-pass trust will be subject to inheritance tax unless they are left to a spouse or civil partner.

If beneficiaries include your children or other loved ones, then the new law could decrease their inheritance by thousands of pounds.

The change will impact anyone who has an estate worth more than the inheritance tax threshold, which, as of July 2025, was £325,000 or £500,000 depending on who inherits your property. Your estate will not normally be liable for inheritance tax if you leave everything above the £325,000 threshold to your spouse, civil partner or a charity.

Rethinking your drawdown strategy

Until now, private pensions were often seen as a tax-efficient way to not only fund retirement plans but also to share wealth with loved ones – especially children and grandchildren – via inheritance.

The new law changes this – and that means your estate planning and drawdown strategies might need to change too. For example, to maximise the tax benefits, you might have been advised to leave your pension untouched for as long as possible – even after reaching state retirement age.

This might no longer be the best strategy and could result in your money going to the authorities instead of your beneficiaries after your death.

Plan today, profit tomorrow

Although the government has confirmed the change, HMRC has yet to publish detailed implementation guidance. This doesn’t mean you can’t start planning for the new law. Some estate strategies, such as lifetime gifting, are more effective when started early. For example, no tax is payable on any gifts you give if you live for another seven years.

Lifetime estate planning is very complex. It’s important to seek independent financial and legal advice before making any decisions or changes. Involving beneficiaries in your planning can also help to minimise your liabilities and maximise the value of your estate.   Attwaters lifetime planning team has been supporting clients and their families for more than 100 years. From trusts and gifts to wills and probates, we can help you and your loved ones navigate the complex landscape of estate and tax planning. Get in touch with one of our team today to find out how we can support you.

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Hertfordshire continues to flourish

Hertfordshire has had a prosperous business community for some time now. While this is partly due to its proximity to London, Hertfordshire Limited 2024 highlights that the county is much more than just its transport links to other places. In fact, between January 2023-24, Hertfordshire’s privately-owned businesses generated an impressive annual turnover of £13.2 billion – up 22% on the previous year. The Business Support Services sector led this growth, with 31 companies contributing a substantial £3.4 billion, followed closely by the Property and Construction sector, which generated £3.2 billion. Among the standout performers was Lamex Food Group, which Grant Thornton named as the county’s top business in 2024. Lamex is one of the world’s largest privately owned importers and exporters of chilled and frozen food; with its headquarters in Broxbourne, it demonstrates Hertfordshire’s capacity to have global business reach.

Additionally, the county’s resilience is demonstrated in Hertfordshire Futures’ Economy Report. Despite the UK’s overall business population declining by 0.1% in 2024, Hertfordshire defied the trend with a 0.5% increase in businesses. Growth was particularly evident in Stevenage, Hertsmere, Watford, and Three Rivers.

Essex – a key driver of economic growth

Essex continues to be a significant contributor to the UK’s economy, as highlighted in Greater Essex Trends 2024, a report produced by Essex County Council. The county is home to 81,000 businesses and over 700,000 employees, generating an annual economic output of £44.8 billion—comparable in scale to that of Northern Ireland. Basildon and Chelmsford have been key drivers of this economic success.

Looking ahead, Essex’s business landscape is set for even greater expansion. The county has the potential to create an additional 50,000 jobs by 2030, thanks to sectors such as digitech, life sciences, and clean energy. Essex’s location and strong infrastructure make it an ideal place for businesses to flourish, so it could play a key part in the future growth of the UK economy.

Stay updated with our private wealth content

We look forward to keeping up with the success of Hertfordshire and Essex businesses in future editions of the Private Wealth Guide. In the meantime, you can read our latest Guide to find out more about why these two counties are such excellent homes for local businesses.  Or, follow us on social media, where we publish all our private wealth content using the hashtag #PrivateWealthGuide.

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What does this change mean?

The introduction of VAT on private school fees represents a significant shift in the way education is taxed in the UK. Traditionally, private schools have been exempt from VAT; however, with the new legislation, termly bills are expected to increase. Any tuition fee payments made for the January 2025 term since 29 July 2024 are now subject to VAT. Additionally, from April 2025 private schools that are charities will no longer be entitled to charitable business rate relief, which provides an 80% discount on the cost of their premises.

Both these tax changes are likely to have caused private schools to increase their rates. However, it is worth nothing that the government were not expecting most fees to go up by 20% as schools do not have to reflect VAT increase in the amount they charge parents. Instead, it was predicted that fees would rise by about 10%.

Why has VAT been introduced?

The decision to introduce VAT on independent school fees is part of a broader move by the UK government to increase revenue and address fiscal challenges. While private schools have long been exempt from VAT, the government argued that these changes could help close the gap in public funding for education. By taxing private school fees, the government aims to generate additional income and improve opportunities for the nine out of 10 children who attend state schools.

The potential impact on families

Critics argue that the introduction of VAT on independent school fees could disproportionately impact families who rely on private education for their children. With rising school fees already putting a strain on household budgets, this new tax could make private education even less accessible for many families. However, the government noted that the number of pupils attending independent schools has remained broadly the same in recent years, despite fee increases due to inflation. It was therefore predicted that less than 0.5% of the private school population (35,000 students) will be moved to a state school. However, the long-lasting impact of this recent change still remains to be seen.

Affordable private schools in Hertfordshire and Essex

There are some excellent private schools in the local area that charge below the average rate and still provide an outstanding education for students. Holmwood House School in Colchester was recognised in 2021 as one of the country’s most affordable private schools. As of January 2025, fees start from £4,390.65 termly for reception pupils. The school recently extended its senior provision up to Year 11, so students can benefit from a wonderful education up to GCSE level for £6,448.46 per term.

In Hertfordshire, the King’s School, Harpenden gives its students the space they need to reach their full potential, thanks to small class sizes and excellent pastoral care. Fees start from just £3,154 per term for primary school students and from £3,850 for secondary. 

More education content

You can find articles like this one in our Private Wealth Guide, where we spotlight affordable independent schools in the local area. Or, follow us on social media, where we publish all our private wealth content using the hashtag #PrivateWealthGuide.

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What are eco-friendly properties?

Eco-friendly homes are designed to be energy-efficient, thus reducing their environmental impact. There can have a variety of potential features, including solar panels, air source heat pumps, underfloor heating and electric vehicle charging points. But it’s not just new-build homes that can be environmentally friendly; retrofitting older properties can significantly boost a property’s energy efficiency. Options include triple-glazing windows, cavity wall insulation and roof insulation.

UK certifications

In the UK, there are a few certifications that validate a home’s sustainability credentials.

Energy Performance Certificate (EPC)

EPCs indicate the energy efficiency of a property, with G being the lowest rating and A the highest. Data from Rightmove found that improving a property’s EPC rating from F to C could increase its value by 15%. It is a legal requirement to have an EPC when selling a home.

Passive House

Passive House is a standard for energy efficiency in buildings which was developed in Germany and is now used across the world. Passive House homes are designed to be affordable, comfortable and use minimal energy.

BREEAM

Established in the UK, BREEAM is now one of the world’s leading sustainability assessment methods for buildings. Categories include energy use, pollution, health and wellbeing, water and waste. BREEAM ratings range from Pass to Outstanding – you can search for certified assessments via their listings.

Benefits

There is a range of benefits to owning an eco-friendly home.

Environmental impact

According to government data, in 2022 residential buildings accounted for 20% of greenhouse gas emissions in the UK. The main contributing factors are fuel combustion and electricity use, so renewable energy sources can make a significant difference. Depending on where you live in the UK, installing a solar panel system could save around one tonne of carbon each year.

Reduced utility bills

Improving a home’s EPC can significantly reduce your energy bills. For three-bedroom homes with a G rating, average annual energy bills cost £5,674 compared to £508 for properties with an A rating.

More popular among buyers

According to research from OVO, 66% of people planning to buy in the next two years are prioritising homes with eco-friendly installations. So, having a green home is likely to improve your chances of selling.

Improve health and wellbeing

Building homes with eco-friendly materials reduces exposure to harmful chemicals. Also, reducing carbon emissions improves a home’s air quality, thus making it a healthier environment for occupants.

Government incentives

There are a range of schemes and incentives to encourage people to improve the energy efficiency of their homes. For example, through the Boiler Upgrade Scheme, you could get a grant to cover part of the cost of replacing fossil fuel heating systems with a heat pump or biomass boiler. Or, if your home generates renewable electricity, you may be able to earn money through the Smart Export Guarantee by feeding back any electricity you don’t use back into the grid.

Luxury eco-friendly homes in Hertfordshire and Essex

There are many homes in Hertfordshire and Essex that are both stunning and environmentally responsible.  Hanningfield Park is just one of many housing developments in Essex which prioritises sustainability. Located in the countryside near Chelmsford, the homes were built with the latest solar and battery technology to aid eco-friendly living. Meanwhile, Waterford Wick in Hertford is home to luxurious properties that offer a green lifestyle. All properties are net zero, with features such as heat pumps and rainwater recyclers.

More private wealth content

You can find articles like this one in our Private Wealth Guide, where we spotlight more luxurious green homes in the local area. Or, follow us on social media, where we publish all our private wealth content using the hashtag #PrivateWealthGuide.

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