Financial Management

Long term investing for Freelancers

Paul Cleworth | Financial & Insurance

 

Successful long term investment is not just about buying low and selling high. Stock markets rise and fall, and share prices are vulnerable to everything from political news to the weather. Trying to find your way around – particularly during times of high volatility and uncertainty – can feel like negotiating a minefield.

So how can we make sense of such a confusing world? It is probably time to go back to basics – stock markets may rise and fall, but the rules of sensible investment remain constant. Wealth Matters’ Paul Cleworth gives us the low down.

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Have you registered with HM Revenue & Customs to do your tax online?

Michael Rose | Accountancy & Tax

 

The Self Assessment online deadline is fast approaching – if you still need to do your Tax Return you must do it online by 31 January

If you’re using HMRC Online Services for the first time, you will have to register for an online account. You will then be sent an Activation Code within 7 days to activate your account.

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Tax efficient Death-In-Service benefits for Contractors with a Limited Company

Paul Cleworth | Financial & Insurance

 

Permanent employees often have death-in-service cover as part of their contract of employment with typically ‘3-4 times your salary’ as the benefit, but for contractors who are often the only person who works in their company, there has been little scope to provide similar benefits, until now.

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Freelance news: The End of Self-Certification Mortgages

Michael Rose | Financial & Insurance, News

 

This week the FSA chief executive Hector Sants outlined a radical shake-up in the mortgage market. The new proposals by The Financial Services Authority (FSA) include a ban on all Self-Certification Mortgages.

This is potentially worrying news for Freelancers and Contractors as Self Certification Mortgages were designed for workers who have trouble proving their income in a conventional manner such as freelancers, contractors, self employed, and company directors but Ian Burrows at Freelancer Mortgages Made easy actually welcomes the news…

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Accountancy News: Crunch continues to cause ripples

Michael Rose | Accountancy & Tax, News

 

The specialist freelancer and contractor-focused accountancy world is hotting up as Crunch continues to cause ripples in the sector.

It’s been a busy month for Crunch with the news that the all-in-one online accountancy service has received investment from Bebo co-founder Paul Birch and Skype chairman Michael van Swaaij. Combined with news of an award for [...]

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Freelance Finance: Are you ready for retirement?

Paul Cleworth | Financial & Insurance

 

You may not be thinking of retirement just yet, but it’s always worth being aware of rule changes that could impact on your pension. Paul Cleworth, Financial Planner and Director of Wealth Matters shows us freelancers and contractors how we can tee up our options…

Are you ready for retirement?

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ReceiptFarm takes the hassle out of receipts and expenses

Michael Rose | Technology

 

ReceiptFarm turns all those horrible scrappy bits of paper with numbers on into a single, online database of your recent expenses. They scan, scrape, sort and send them back to you in a few days and everything, from VAT amounts to payment type are all captured online.

Brilliant stuff!

SPECIAL OFFER: 20% off for Freelance Advisor readers.

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Podcast #16: Steps to Accountancy Heaven

Andy White | Podcast

 

Darren Fell covers the correct steps to setting up your accounting system.

Step 1: Find the good accountant Step 2: Make sure you like their software

 
icon for podpress  #16: Steps to Accounting Heaven [27:49m]: Play Now | Play in Popup | Download
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Freelance Event: Free business events for Brighton-based freelancers

Kasey Brunt | Events, News

 

Brighton and Hove-based freelancers have the opportunity to attend free events aimed at helping small businesses survive the economic downturn.

The Business Lifebelt events have been developed in partnership with Brighton & Hove Chamber of Commerce and Business Link Sussex to provide relevant advice to businesses operating in the area.

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Legal advice: dealing with bad debts

David Gordon | Legal advice

 

In this economic climate there are few letters which are worse to receive than a letter saying that your client has gone into administration or bankruptcy owing you money. But the number of these letters being sent out is on the increase. As a freelancer or contractor you will rank behind the banks, the Revenue and employees for payment and the prospect of getting money out of a company at this stage is remote at best. How then to stop your debts going bad?

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Freelancer News: Taxing times

Kasey Brunt | Accountancy & Tax

 

Tax burden hurts small business HIGH taxes are hitting UK small businesses hard, new research has found. About 16 per cent of small business’ outgoings is spent on tax, according to financial business information firm Creditsafe.

This means tax is the third biggest expense for most small businesses, freelancers and contractors, behind wages and investment in stock [...]

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Five tips for surviving as a freelancer during a recession

Leif Kendall | Accountancy & Tax

 

Continuing our series on how an economic crisis might affect freelancers and contractors, Freelance Advisor and Web Marketing Consultant Leif Kendall gives us five freelancing tips for surviving in a recession. Before I tell you how to literally work your way through a recession, or a credit crunch, or whatever we’re experiencing, I would like to [...]

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Three reasons why freelancers are safer during a recession

Leif Kendall | Accountancy & Tax

 

With gloomy forecasts and images of screens full of flashing red numbers dominating the newspages we’ve been keeping a eye on what the state of the economy means to freelancers and contractors. And it’s not all bad news! Today Freelance Advisor and Web Marketing Consultant Leif Kendal gives us three reasons why freelancing might actually be a very good option during a recession.

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Loss of tax relief on freelance expenses?

Michael Rose | Accountancy & Tax

 

The Professional Contractors Group (PCG), which represents UK freelancers and contractors, has warned the Government against “heavy-handed action” which would remove tax relief on expenses. The warning particularly concerns freelancers who work through ‘umbrella companies’ which oversee the offering of a number of freelancers’ services on large or long-term contracts.

“PCG supports the presence of umbrella companies [...]

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Pension plans for freelancers and contractors

Phil Illingworth | Accountancy & Tax

 

“I’m busy earning as a freelancer, but what about all those Pension plans?” It’s a common freelance problem. You’re hard at work earning money from contracts, but you also know you need to keep an eye out for when you’ll be less busy earning. In this new Financial Management series, Senior Pensions & Retirement Consultant Phil [...]

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