Category: Finance

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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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Quantitative Easing ? What’s that ?

We’ve heard about QE on the news as if we know all about it. So, what is it ?. QE is simply the BoE (that’s Bank of England) prints money. That’s it !. Well, they don’t print pound notes but they create “digital pounds”. Q. What do they do with the created money ?. A. […]

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3 quick items of interest

Just a three quick items of interest if you are self-employed, or are self-assessed taxpayer…. Class 2 NIC’s It was announced in the recent 2016 budget, that Class 2 National Insurance Contributions would be scrapped from April 2018. Yes…you read that correctly !. Currently you are paying £2.80 per week if you earn a PROFIT […]

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Credit cards- “hard search” or “soft search” ?

Here are a few hints in minimizing credit card interest costs; 1. Never miss monthly payments. If you miss, or underpay a monthly payment, you can slugged for up to 30% on the whole balance of your card debt !. Ouch !. 2. Clear by the time the 0% time period ends. 3. Use only […]

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Auto enrolment – “relief at source” or “net pay” ?

By now, most employers are in the process of auto enrolling their employees in a pension fund. But there is something to look at for lower paid employees which can save them money. Contributions paid from NET pay will use a “relief at source scheme”. This means that staff earning under £11,000 a year from April 2016, will […]

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What is “crowdfunding” ?

Ever wondered what the fuss is about ? “Crowdfunding” is a way of raising finance by asking a large number of people each for a small amount of money. That’s it !. Until recently, financing a business, project or venture involved asking a few people for large sums of money. Crowdfunding switches reverses the idea, […]

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