Category: Finance

Applying for a loan or a credit card? Bankers look for your TDSR. It's not complicated...

Business Bites Episode 6: What is your “Total Debt Service Ratio”?

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Business Bites Episode 5: is there such a thing as good debt?

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Are you ready for the increase in pension rates ?

From the 6th April 2018, auto enrolment pension rates are going to increase. It’s important that you’re ready for these contribution increases so that the correct amounts are deducted from your payroll at the right time if you are employer. If you are an employee, you will be paying higher contributions so you need to […]

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Do insurance companies pay out on red alerts ?

There is a rumour that insurance companies will not pay out for accidents during a red alert. (Red alert is in place in Scotland at the time of writing, 1st March 2018). This is NOT true. It is not about whether there was a red alert but whether there was “contributory negligence” on the driver’s […]

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Automatic enrolment doesn’t end with a declaration of compliance

So, you’ve assessed your staff, put them into a workplace pension, and declared your compliance. But automatic enrolment (AE) doesn’t end there, and neither does your responsibilities. There are still legal duties that need to be completed – automatic enrolment is an ongoing responsibility even after the declaration. Every time your run their payroll, their […]

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Film investment – not bad for middle income earners

Did you know that if you invest in a film, you get a 30% tax deduction ?. If you are in the 20% band, that’s a good investment; especially if you get a dividend from the film. The film company accountant will issue you with an “EIS3” form (Enterprise Investment Scheme). They fill it in […]

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PSD2 (second Payment Services Directive). Are you ready ?

Yup…another innovation you should know about. PSD2…what’s that ?. Basically, ‘merchants’, businesses like Amazon, with your permission, will retrieve your account data from your bank. That means when you buy something, they can make a payment for you, without having to redirect you to another service (like PayPal or Visa). This is designed by the […]

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Are you ready for “open banking” ?.

To be simple, it means that your data can be given to other people. Why ?. So they can offer you a product that is specific and taylored to your needs and your lifestyle. Before you switch off and say “not interested. I am a private person”, please look at the intent before making your […]

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Declaration of dividends – what paperwork ?

When you pay yourself a dividend from your company, make sure you; 1. Prepare minutes. This must be completed at each dividend payment. It is the board declaring the dividend. You can pay yourself a dividend as many times as you like during the year. 2. Complete the “Tax voucher”. Don’t be put off by […]

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What is the “pension triple lock” ?

Q1. So, what is the “Pension triple lock” you hear about ?. A1. It is simply a guarantee to increase the UK state pension every year by the higher of – inflation or, – average earnings or – a minimum of 2.5%. Q2. When does it apply from ?. A2. introduced by the coalition Government […]

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