Congratulations to our founder Alistair Bambridge who has been listed in the newly released Spears 500 2018. The guide is an annual publication that recognises the top private client advisers, wealth managers, lawyers and service providers for high net worth (HNW) individuals.
If you're due a tax refund, the temptation to flitter the extra cash away on short-term luxuries can be hard to resist. Whilst temporary pleasures are all well and good, the sensible thing to do is use the money for something that will further enhance your financial situation.
Inheritance tax (IHT) has been declared the most disliked tax in a poll by the general public and it's no surprise as to why. Like it or not, it's here to stay but there have been a few recent changes that might benefit you if you're thinking about planning for the future.
As of April 2018, a sugar tax was enforced on all sugary drinks in the UK in an attempt to curb the ever-growing concern of the Nation's obesity epidemic.
How will it work?
There are 2 taxation categories: one that effects drinks containing more than 5g of sugar per 100ml, and a higher tax for sugary drinks with 8g or more per 100ml. The Office for Budgetary Responsibility stated the drinks will be levied at 18p and 24p per litre. The money raised is intended to be spent on increasing funding for sport in primary schools - an estimated £520 million.
Retirement planning doesn't have to be complicated but can often be neglected because we like to prioritise our current spending. Failing to pay into a pension or disregarding retirement saving might make your bank account a little fuller in the short-term, but when you reach an age where generating an income isn't as easy as it once was, you'll find yourself high and dry if you don't plan ahead. According to a study by Which? the average household needs £18,000 a year to cover household essentials and this doesn't include costs of any bucket-list items you might have been saving for your wonder years - keep reading to find out if you're doing enough to save for your retirement.
Not having an emergency fund
Sometimes life throws you a financial curveball so it's important you set aside money to deal with it should it happen. Not only that, but with the freedom of freelancing comes the possibility that there may be periods where your workload slows down. Putting a small amount of money from your monthly paycheque (we recommend 5%) will help you pay for any unforeseen outgoings without disrupting your actual account balance. Allocating a separate account for this that isn't accessible by cash card can help curb impromptu spending.
The Museum and Galleries tax relief was introduced in November 2017 as an opportunity to claim back money on the production of Exhibitions.
The premise of the tax relief is to allow museums and galleries which are charities to claim back some of the cost they incurred to put on their exhibitions, which the government hopes will make promoting the work of creative industries more sustainable.
With a new tax year comes tax changes that affect all of us. This article will go into some of the tax changes you should be aware of and how they may affect you.
It is possible to set up a limited company independently, however it is advised that a specialist formation agent is used in order to avoid unnecessary mistakes and obstacles
Your tax code is a combination of letters and numbers that is used by your employer and pension providers to work out how much Income Tax should be taken from your pay or pension.