As an accountancy firm we deal with lots of business owners who operate as a sole trader or in a partnership. A questions we get asked by a lot of our self employed clients is, ‘should I pay into a pension’? Here are a few of the reasons you […]
Monthly Archives: September 2024
25
Sep
Sep
Minimise Your Tax Bill with Allowable Business Expenses Allowable Expenses is a term used to describe costs or expenses you incur while running your business that you can claim as tax deductions therefore reducing the amount of tax you pay on your profits. However what expenses you can claim […]
25
Sep
Sep
Building a Bigger Business? Start with Strong Financial Strategies! Growing a business is no small feat. Business growth requires dedication, innovation, and strategic financial planning. As business owners, start-ups, directors, and entrepreneurs seek to scale their operations, several pivotal financial areas must be addressed to ensure sustainable growth. As […]
23
Sep
Sep
Dreaming of an Overseas Holiday Home? Consider UK Tax Implications… When summer fades into a distant memory and winter is on the horizon, many of us dream of the sand, sea, and sunshine an overseas holiday home can bring, without much thought to the UK tax implications of owning […]
11
Sep
Sep
The History and Benefits of Bed and Breakfasting For many years UK investors used a method called Bed and Breakfasting to increase the base cost of their assets. This used their annual exemptions and minimised CGT on an eventual sale. It used to be possible to do this across a […]
Blog, Financial Planning, Later Life, Pensions, Retirement, Wealth
Why you should save into your workplace pension
06
Sep
Sep
It’s that time of year again. Pension Awareness Week is back for 2024, running between 9th and 13th September, and to celebrate our financial planning team RL Wealth have put together this seven point plan on why its best to save into your workplace pension! Why you should save into […]
04
Sep
Sep
Nobody likes to do tax returns but there are actually some pretty good reasons to do your tax return before the deadline and get it out of the way. Avoid Last-Minute Stress: Getting it done well before the deadline reduces the pressure and stress associated with the tax deadline. […]
Blog, Family, Financial Planning, Tax, Taxable Benefits
High Income Child Benefit Charge (HICBC) Updates: What You Need to Know
04
Sep
Sep
High Income Child Benefit Charge (HICBC) Updates: What You Need to Know Starting from 6 April 2024, significant changes to the High Income Child Benefit Charge (HICBC) have been introduced. These updates could reduce your tax burden and bring welcome financial relief to many families. Here’s a breakdown of the […]