Why mistakes are opportunities to learn

We can learn more from failure than success. According to Richard Branson, “One thing is certain in business. You and everyone around you will make mistakes.” If we are all spending time making mistakes, it makes sense to learn from them. Failure is a critical part of...

Request that the pension charge is paid by your fund by 31 July

The Pension Annual Allowance tax charge depends on the individual’s marginal rate of tax. Where their income exceeds £150,000 it would be at 45%. Thus if the pension input for 2018/19 Was £40,000 and the limit is tapered to £10,000 the excess of £30,000 would incur a...

Doctors lobbying for pension tax changes

Hospital doctors and GPs are lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they take on additional...

High income child benefit charge and state pension

We recently looked at tax planning to minimise or eliminate the high-income child benefit to keep both husband and wife (or civil partners) looking after a child below the £50,000 threshold. Where the income of one of the individuals exceeds £60,000 such that the...

6 Receipt Bank tips that make expense tracking a breeze

  We can all agree that until apps like Receipt Bank came about, keeping a track of receipts and invoices was a nuisance.  Thankfully, now that we’re able to upload, store and track our expenses at the touch of a button, we have more time to take care of the...