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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Tax on Bartered Services in the Creative Industry
Tax on Bartered Services in the Creative Industry

It’s all too easy to get lost in your taxes as a creative professional. With often more travelling and longer hours, it can be hard to find the time and resources to properly sit down and focus on where you and your business stands in relation to the HMRC.

This article focuses on bartering- the exchange of a good or service. Bartering is extremely common for many creative professionals. For example, if you are a graphic designer and you perform a design service for a catering business in exchange for their services at an event you are holiday, this would constitute ‘bartering’.

How to get a mortgage as a self-employed first-time buyer
How to get a mortgage as a self-employed first-time buyer

Nationwide, it is becoming more and more difficult be granted an appropriate-sized mortgage. The number of people going self-employed within the UK is increasing every year, with self-employed workers now accounting for 15% of the working population (Jones, 2018).

There are a number of problems currently associated with being self-employed, i.e. the pension crisis and getting a mortgage. This article focuses on how to get a mortgage as a self-employed individual.  Research has shown that 30% of self-employed homeowners feel that the mortgage process is biased (McDowell, 2018).

Expenses to claim as a self-employed consultant
Expenses to claim as a self-employed consultant

As a self-employed consultant you are likely to have several running costs and expenses. Theses costs and expenses should be taken away from your business income to work out your profits. Not all expenses are allowable for tax purposes, it is therefore important to be aware of you what you are and aren’t allowed in order to save money against tax and avoid a HMRC enquiry.

What the Autumn Budget 2018 means for small businesses?
What the Autumn Budget 2018 means for small businesses?

Chancellor Phillip Hammond’s release of the 2018 Autumn Budget revealed a number of changes for small business owners.  Below is a brief summary of  some of the changes small business owners should be aware of.

 

Accountant London: What to do if you’re no longer self-employed?
Accountant London: What to do if you’re no longer self-employed?

If you have stopped trading as a sole trade or you’re ending/leaving a business partnership then you must notify the HMRC. This will trigger the cancellation of your Class 2 National Insurance. 

London Borough Developers forced to reveal profits to council
London Borough Developers forced to reveal profits to council

Currently there are over 2,200 families on the waiting list for Kensington and Chelsea social housing. Which compared to the 11,000 houses currently available, presents a huge issue for councils finding the families accommodation. The council has already spent its entire reserves of £230m on new housing for the Grenfell tower survivors, whom all fall into their borough.

Accountant London: How to reduce your stamp duty from an Accountant London
Accountant London: How to reduce your stamp duty from an Accountant London

Stamp duty is an area of much dispute and change in UK tax.  Currently, you usually pay Stamp Duty Land Tax (SDLT) on increasing portions of your property’s price above £125,000 (for residential properties, like a house of flat).


The amount of Stamp Duty you owe can vary depending on whether or not the property is your first home and the purchase is £500,000.

What are statutory accounts?
What are statutory accounts?

Statutory accounts (commonly known as annual accounts) are financial reports that must be prepared and filed at the end of each financial year. For UK private limited companies statutory accounts are a compulsory part of the tax year.

What you need to know about tax as a business owner
What you need to know about tax as a business owner

As a business owner it is important to be aware of your companies tax obligations and liabilities. There are a number of taxes that small businesses are required to pay. Below is our breakdown of the taxes you should know about as a business owner:

October 15th US Expat tax deadline
October 15th US Expat tax deadline

The October 15th US tax deadline is just around the corner. Below we have put together a brief outline of how to get started and avoid the harsh penalties of the IRS’s long arm: