Bambridge in the Times: How to boost your pension?

Take a read of our latest contributions to The Times, where we answer the dreaded question of how you go about increasing your pension income. 


The article features Martin Allen, a veteran Royal Navy Submariner. As a business owner, mortgage and investments, Martins tax case is not the simplest. 

View our answers at: https://www.thetimes.co.uk/article/i-want-to-boost-my-pension-income-now-nd3kxs6ms

Contact us for expert tax advice on how to increase your pension income that is relevant to you.

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The HMRC Loan Charge that is leaving freelancers owing thousands

Over 50,000 contract workers have been subjected to backdated tax demands of hundreds of thousands pounds. This is after a pursuit put in place by a controversial loan charge aimed to claim back-unpaid taxes from as far back as 1999.
What you need to know about the IR35?

The IR35 is a combined of legislation that is designed to asses whether a contractor is a genuine contractor or an employee for tax purposes. Contractors that work through their limited company enjoy many tax perks, such as claiming expenses against tax, which cannot be enjoyed as an exclusive employee to a company. Contractors also do not have access to many of the perks of employment, such as holiday and sick pay.

Compulsory purchase orders and tax
Compulsory purchase orders and tax

The HS2 project is one of the most demanding and exciting transport currently active in Europe.  The project has set out to build a railway that will form the new backbone of Britain’s transport network.

HMRC bring in a record income from offshore investigations
HMRC bring in a record income from offshore investigations

The HMRC has continued its crackdown on tax avoidance this tax year, with a record amount of investigations into British taxpayers offshore assets and income; which have been followed by the HMRC’s record net income of £560million.

Claimable expenses for software engineers
Claimable expenses for software engineers

With the rise of the IoT, AI, AR, Fintech and much more, comes the rise of software engineers. A software engineer is an individual who develops various applications that enable users to accomplish tasks. Like all professions, software engineers come in the form of either employed or self-employed.  

Software engineer’s salary bracket is regarded as one of the highest in the UK ranging from around £30,000 to £300,000, depending on seniority and ability. This means that many fall into the tax filing bracket whether they are self-employed or not.

How UK Taxes are working to improve the environment?
How UK Taxes are working to improve the environment?

Over the past 5 years the general UK population’s rise in concern and consciousness for the environment is undeniable. From youth climate change protests to the suggested conversion to veganism to help the environment; climate change activism can be seen in all walks of life in the UK.

This article will focus on how UK taxes are joining in on the effort to help the environment.

These are the UK’s Fastest Growing Sectors for Employment
These are the UK’s Fastest Growing Sectors for Employment

With 51% of businesses expressing desires to expand over the next year, UK unemployment levels have fallen to its lowest point since 1974. Below are some of the fastest growing sectors for employment.

Understanding your pay and reading a payslip?
Understanding your pay and reading a payslip?

This article if focused on explaining pay for UK employees and the process of reading pay slips. 

As an employee you should be told by your employer how much you will be paid, the date of your payment and the medium of payment i.e. by cheque or bank transfer.

As an employee, unlike contractors or freelancers, you have the right to receiving a payslip. This can come in a paper or online form.

American Tax Advice: Do I need to file an FBAR?

With the ongoing US tax crackdown on US expats, comes the demand to file FBARS. An FBAR or FinCen is used to report foreign bank and financial accounts. Within the FBAR you must report all foreign bank, securities and financial instruments.

Who needs to file a tax return for the 2018-19 tax year?
Who needs to file a tax return for the 2018-19 tax year?

The 2018-19 tax season is in full-swing and tax payers can now file there returns ahead of the 31st January 2020 deadline. It is advised by the HMRC to get tax returns filed as early as possible, to ensure that the deadline is met. As an added incentive to taxpayers, we, at Bambridge Accountants, offer a discount to those who file between April and August 2019.