Financial Advice Blog
Your next new car: buy it or lease it?
Posted by on July 10th, 2018 in Financial Advice Blog
Car sales in recent years have been buoyant again, is purchasing one, really your best option? For sure, purchasing a new car contributes to the UK wider economy, but when you consider your personal finances, it may not be the best option for you as a contractor. With public transport cost spiralling that’s not probably the best option either.
Over the years we’ve seen more and more contractors switching to car leasing. Around 9 out of 10 contractors lease a new car. Leasing a new vehicle generally costs far less upfront and during the life of the agreement, than buying a vehicle.
For many contractors and self-employed professionals, car leasing has proven to be an affordable way to drive a new vehicle every 2 or 3 years, avoiding MOTs and unforeseen bills.
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IPSE warns of new IR35 risk with automatic switch to payroll
Posted by on August 7th, 2017 in Financial Advice Blog
Chris Bryce is chairman of IPSE, the association for independent professionals and the self-employed. Both he and the organisation he represents have new concerns over IR35 compliance.
Some of you will say: “That’s nothing new; there’s always some sort of IR35 risk.” And you’d be right.
But there’s a huge change taking place in public sector contracting. The new client-end responsibility for assessing contractor status, payroll or independent, is here.
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Relevant Life Cover for Contractors – stick it on expenses!
Posted by on July 25th, 2012 in Financial Advice Blog
It’s an age old conundrum for contractors. Just how do you provide valuable life cover and financial security for your family in a tax efficient manner?
A revolutionary product has brought life cover into the 21st Century for small business owners. It’s called a Relevant Life Plan and could be the answer you’ve been looking for if you work through your own limited company.
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The Advantages of Pension Drawdowns for Contractors
Posted by on February 13th, 2012 in Financial Advice Blog
Freelancers and contractors aged 55 and above have the potential to use a pension drawdown. Great. What’s that when it’s at home?
Drawdowns provide a tax efficient mechanism for accessing your pension fund. If you have pension savings of £50,000 or more, this method may provide better returns than an annuity.
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Finding a Financial Advisor who’s professional and knowledgeable is a bonus but one that you trust and feel comfortable with immediately is rarer still. I have recommended John to virtually all the other IT Contractors that I work with and will continue to use their services in the future.
John Yerou and his team provided the brokerage service for my last 3 mortgages and I cannot rate them highly enough. No matter how large or small the request they always provide a speedy and professional response. I would never consider using another advisor/broker.
We have been introducing Contractors and Freelancers to Freelancer Financials for several years now. They have established themselves as the preferred choice of financial advisors to all our IT contractors and Freelancers.
Andrew Saunders and Leanie Freed have provided an impressive service - one month from initial enquiry to completion of house purchase, with a mortgage from an established high street lender on a good interest rate. The service was clear, responsive and professionally managed throughout. Most importantly, Andrew understands the business context for contractors and this directly informs their approach to lenders
