Month: March 2017

NHS Pension Scheme 2015 – how to buy your way to early retirement

On 1st April 2015, the NHS Pension Scheme (NHSPS) 2015 was introduced. This will be the pension scheme that all new members of the NHS will join. However, some members of the 1995 section and the 2008 section of the old NHSPS will also be moved to the NHSPS 2015, depending on their ages as...

Spring Budget Guide

The Chancellor of the Exchequer, Philip Hammond, delivered his Spring Budget to Parliament this week. In our guide to the Spring Budget, we consider the key measures and outcomes and look at the impact on you, your family and your business. You can read the full guide to the Spring Budget here. The Chancellor resisted...

Clearmoney Magazine – March/April

Welcome to our latest issue of Clearmoney Magazine, featuring articles written to help you make the most of your hard-earned money and achieve your long-term financial security. Each tax year, we are given an annual Individual Savings Account (ISA) allowance. Anyone wishing to utilise their allowance should do so before the deadline on Wednesday 5...

IR35 is changing from April 6th

IR35, the intermediaries legislation introduced to tackle tax avoidance through personal service companies (PSCs), is set to change this year. Since April 2000 when it was brought in, IR35 has been the cause of much ire for freelancers and contractors, as well as proving difficult for HMRC to police effectively. The changes are hoped to...

How is your business preparing for the digital tax regime?

By now, you’ll undoubtedly be aware of HMRC’s ‘Making Tax Digital’ (MTD) project. The aim of the project is to modernise the entire tax system by requiring all businesses to manage every element of their tax affairs online by 2020. The new system is scheduled to be implemented from April 2019 and will have an...

Why it could make sense to switch bank

An investigation by the Competition and Markets Authority (CMA) has found that small businesses could save around £80 annually by switching to a bank account better suited to their financial needs, whilst customers could save themselves an average of £92 a year by doing the same. However, the figures for switching accounts are still remarkably...

The financial pros and cons of self-employment

A recent study has found that being self-employed is having an impact on family life thanks to the increase in pressure and stress it brings. According to the Centre for the Modern Family’s report ‘Self-employment and the Family’, a fifth of those related to self-employed workers admitted to their household experiencing higher levels of stress,...

What will the Apprenticeship levy mean for your business?

The new apprenticeship levy is set to come into effect from April this year. The levy will affect all companies with an annual payroll over £3 million. Companies with this level of payroll will have to pay 0.5% of any money over that threshold towards an apprenticeship fund. The amount owed by companies in this...

4 steps to keeping track of your pension

A recent study has revealed the worrying statistic that over a fifth of all people with multiple pensions have lost track of at least one, with some admitting to have forgotten the details of all of them. With around two thirds of UK residents having more than one pension, this amounts to approximately 6.6 million...

What could be the best way to provide for your grandchildren?

With both property prices and the cost of living continuing to rise, as well as low interest rates making it difficult to save, the ‘Bank of Mum and Dad’ is increasingly becoming a partnership with the ‘Bank of Gran and Grandad’. If you have grandchildren, it’s only natural that you’ll want to provide for them...