Investments & Tax Planning Guides
Hopefully, your decision to become self-employed is not only liberating, but also financially beneficial. A considered tax-planning strategy will present yet more opportunities for investment in order to press home this advantageous status.
Setting regular small amounts aside is an important consideration. But this new financial awareness represents more than investing in your future.
The psychology behind becoming both über tax-efficient and knowing that your savings are multiplying daily is a huge spur to do more of it.
What investment strategy works best for contractors?
The problem most people face getting started is that there are so many ways to invest. This is especially true of contractors who operate through a limited company.
A good accountant will help you to minimise your income tax, national insurance, corporation tax and capital gains tax. But an IFA will advise you on tax efficient investment opportunities, such as ISAs, bonds, stocks, high interest deposit accounts.
Your attitude to risk, often determined by the stage you're at in your career, also plays a huge part in deciding what investment strategy is right for you.
With all these choices, the time never seems right to sit down and actually choose a way to make the most of your disposable income. So you don't and both the time and the income disappear, leaving you no better off than before.
Our guides are brief, no-nonsense overviews of the types of tax-planning and investment most suited to contractors and will soon ensure your savings are working for you.
There are many ways contractors can invest in their own future. Our guide details the options you can implement with sensible tax-planning to start building an investment platform today for a wealthier tomorrrow.
John Yerou is a pioneer of contractor mortgages and owner and founder of Freelancer Financials, Contractor Mortgages®, C&F Mortgages and Self Employed Mortgages, trading styles and brands of the award-winning Mortgage Quest Ltd.