Contractor related financial articles
Over the years we have provided many articles of interest to the UKs contractor community.
Here are the most recent and we hope that you find them of use. It is important to check with us that specific details are still accurate as the text merely provided a snap shot that was relevant at the time of writing.
If you wish to discuss any of the issues raised please contact us.
Business deposit account protection explained
[Sept 2008] In light of recent tumultuous events in the financial markets we show how to safeguard your Company monies by spreading the risk. £35k of your savings in any one UK bank account are guaranteed but there is a little known failing in the scheme...
Life returns to fees free mortgages!
[Sept 2008] With a After months of Credit Crunch related doom and gloom in the mortgage market the clouds are finally parting with signs that a number of major providers are reducing interest rates and giving new cause for optimism to remortgagees and home buyers...
Release cash from your pension
[Sept 2008] With a Pension Release scheme Contractors can unlock a tax free cash lump sum from your pension, giving you the freedom to do those long awaited home improvements, build up a financial buffer in uncertain times or take that holiday of a lifetime. Andrew Gains explains that as long as you are over the age of 50 you can continue to work and can even contribute fresh funds to your pension that will attract the usual attractive tax break...
Half price contents insurance for contractors
[Sept 2008] When it comes to building and contents insurance the devil is in the detail on many 'best buy' comparison websites. If you're currently buying or already have cover in place it can pay to carry out our simple home insurance checklist and make sure that your properly protected as Vanessa Hillary explains...
Dragonfly case brings back spectre of IR35
[Sept 2008] An IR35 case was lost last week as Dragonfly Consulting was served a bill for tax avoidance totalling over £99,000. As Director and Shareholder John Bessel prepares to empty his piggy bank, the rest of the Contractor community is fearing its impact on future IR35 case...
A stamp duty holiday!
[Sept 2008] Forget sunning yourself in the Caribbean this year, the best holiday deal right now is happening in the UK property market with a stamp duty break on all properties sold for under £175,000...
Lehman Brothers, HBoS, Merrill Lynch...
[Sept 2008] After a turbulent week on the worlds financial markets we take stock...
Secure the best remortgage rates without costly legal bills
[June 2008] Clare Monger explains, as lenders become less inclined to sweeten their best remortgage rates with free legal work we are pleased to launch a solicitor finder service...
Getting your finances in shape this summer: How to survive the credit crunch
[June 2008] Summer has arrived at last and now's the ideal time to dust off the bike, get down the gym and get into shape...
HSBC mortgage schemes prove to be a mirage for many borrowers
[June 2008] Amidst all the gloomy tales of mortgage funding drying up, HSBC caused a storm of interest recently with new market leading mortgages...
Further 10% discount off Private Medical Insurance
[June 2008] Contractors and freelancers enjoy employment flexibility and hopefully greater earnings capacity too but like all good things in life there can be a downside too...
Northern Rock customers forced out
[April 2008] Even if by some miracle a commercial buyer had been found for Northern Rock, the message would have been the same....
How was it for you Darling?
[April 2008] Alistair Darling announced a last minute delay in the clampdown on income sharing, with proposals now put off until 2009 to allow for further consultation....
All change to a nicer ISA?
[March 2008] After months of bad economic and taxation news it's good to be able to focus on something that should boost the lot of any Contractor looking to minimise tax....
How to beat the credit crunch
[March 2008] Contractors may need to act quickly to get onto or move up the housing ladder....
Pension to Property
[February 2008] One option for business owners to ensure trading continuity is by purchasing the premises that they trade from....
HIPs to stay
[December 2007] Despite the initial hopes of home owners, estate agents, mortgage advisers and housing industry experts that this ill-conceived added layer of cost and bureaucracy would be confined to the regulatory scrap heap, HIPs are sadly here to stay....
Planning for an early retirement
[November 2007] Given the constant challenge of running a business, many company owners will dream of early retirement.....
Buy to let for Contractors comes of age
[October 2007] The recent credit crunch has brought a great deal of uncertainty to the mortgage market but as is always the case, regardless of financial climate, there are always winners and losers.....
What is the root of the financial upheaval in the UK?
[September 2007] The credit crunch all stems from events in the US. As a result of some very dubious sales practices in the poorer communities, to customers who invariably had bad credit ratings, literally billions of pounds worth of mortgages have been secured on property on which the borrowers have little ability to repay the debt.....
Tax efficient investment for business owners
[September 2007] One of the great irony's of running your own business is that when you congratulate yourself on a good trading year the realisation can often dawn that it is the taxman who ends up the main beneficiary.....
Contractors need to claim forgotten cash before the taxman spends it for them
[September 2007] The Treasurys lasted wheeze to boost public spending on community projects is to grab hundreds of millions pounds of so called unclaimed assets that are currently lying dormant in savings accounts. The British Bankers’ Association (BBA) and Building Societies Association (BSA) have been forced by the government to design a scheme whereby money left in unused accounts for more than 15 years can become accessible to the authorities.....
Contractors urged to draw up a Living Will
[April 2007] Less than 30% of Freelancers have a Will and whilst many of us will view the administration of our affairs when we die as 'someone else's problem', Contractors are being urged to put their legal affairs in order in the event of incapacity.....
Mortgage Decision Time for Freelancers
[April 2007] With base rates expected to rise in the coming months, we explore some of the options available to Contractors and how to compare the best deals.....
Buy to Let Mortgages just got easier!
[April 2007] As Independent Mortgage Advisers, ContractorMoney have helped hundreds of Contractors invest in the residential rental market......
Contractor Pensions Reprieved
[Feb 2007] After suffering 10 months of confusion and anxiety, Contractors, their Pension Advisers and Accountants can breath a huge sign of relief after clarification this week by HM Revenue & Customs (HMRC) regarding how pension contributions from one-man limited companies will be assessed for tax relief.....
Contractors welcome 'A' Day clarification
[Feb 2007] Many Contractors will be familiar with the opportunities presented by the Pensions Simplification rules (known as 'A' Day) that came into effect last April. The new rules included the ability to make, in theory at least, unlimited company contributions into pensions within a personal lifetime allowance of £1.5 million....
Get your finances into shape for 2007
[January 2007] January is always a great time to put in place those changes that will ensure you make the most of your cash in the coming 12 months. As Independent Financial Advisers we are always on hand to help and heres some suggestions to make 2007 a really prosperous year.....
Financial planning issues for contractors as a result of the pre budget report
[December 2006] The Chancellor's pre-budget report seems to be a case of Gordon giveth in April and Gordon taketh away in December. Some good news for the future of tax free savings was tempered by a turnaround on pensions.....
Long live King ISA
[November 2006] Just ahead of today's pre-budget report, it now seems certain that the sword that has hung over the head of Individual Savings Accounts (ISAs) will be removed....
Free property investment consultations
[January 2007] Over the past 12 months, in our capacity as IFAs, we have answered numerous posts regarding buy to let investment. We have provided guidance on a more personal basis with contractors looking into the merits of holding their existing properties within a limited company structure.....
The rise of the buy to let millionaire
[October 2006] Its 10 years exactly since funds were released on completion of the UKs first buy to let mortgage. We thought we'd use the anniversary as an opportunity to take stock and look at what has been a phenomenal success story for many a contractor who had harboured ambitions of becoming a property tycoon.....
Freelancers race to fix mortgage rates
[October 2006] With the Bank of England widely tipped to raise interest rates again next month there has been a frenzy of activity as Contractors look to lock in their mortgage repayments at current low monthly levels.....
Pensions simplification
[April 2006] With the onset of wholesale changes to the rules relating to UK pensions Tony Harris of specialist IFAs ContractorMoney explains what the new regime will mean for freelancers.....
Whats in store for the housing market in 2006?
[January 2006] Whilst many journalists and city commentators were predicting a serious house price correction in 2005, the reality was a mercifully soft landing and gentle easing off from the runaway inflation of the previous 5 years....
Did IT Problems cause A Day pensions shock?
[December 2005] The much hyped A Day reforms initially looked set to revolutionise attitudes to pension investment...
|
