Skip to main content

Financial Planning for 2018


Many of us look to make changes in the new year, and it pays to ensure that these changes are viable, and not simply made for the sake of making changes. This is especially true in business – it pays (quite literally in some cases) to have the services of a chartered accountant in North Wales to hand in a series of transactions and decisions throughout the course of your business.

A good chartered accountant will ensure that your savings, your investments, and also your livelihood is not left to chance and  we’ve put together a small list of pointers in order to discuss with your accountant or your business advisor at the closest possible opportunity.
Firstly, before you speak to anyone, you’ll want to consider your goals. A good review of your long and short-term financial goals can do wonders before you speak to anyone, as only you have the insight into your livelihood in order to ascertain if they are still relevant to where your business is going, what is still attainable, and what isn’t.
Even though the Autumn Budget 2018 has been and gone, it is important to know that even though things are changing, they are not going to change until April 2018. With year-end taxes approaching as well, you still have plenty of time to use your ISA allowance and it can save you quite a chunk of change in order to do so.
We believe that an investment portfolio should be reviewed at least twice a year. For those with more focus on the here and now than portfolios, perhaps we can allow once a year. Perhaps. Year end is the very best time to dust off the investment portfolio and take a closer look at your underlying assets, in order to ensure that they work for you still – and not anyone else.
Inheritance Tax is something that affects both the wealthy and the not-so-wealthy, and ensuring that you take appropriate advice from your accountant with (completely legal) ways to mean that the taxman gets a slightly smaller wedge can be the difference between “not so bad” and getting caught with your pants down. Likewise, reviewing your mortgage is a very good thing to do at the end of the year – while of course sometimes you can’t do anything about your commitments, it can often be beneficial to take a look at what’s out there.  

The financial crisis of 2008, believe it or not, is still being felt, and it feels recently that all lenders desperately want to lend. A better deal on the biggest financial commitment of your life (next to your business) can never be a bad thing.

Comments

Post a Comment

Popular posts from this blog

Why Get Company Formation Support For Your Business

Starting or running a business can be timely and a lot of work is required to ensure all areas are run smoothly. If you’re asking yourself where accountants Bangor near me are, you may be thinking about getting company formation support. So, why should you decide on getting this for your business? Let’s find out!  What Is Company Formation? To start with, let’s dive into what company formation actually is. Company formation is the process of starting a business and planning the steps that are involved in this - ticking off all the necessary stages involved in forming a company. A company formation agent can offer invaluable advice and provide a heap of continuous support during the process of building the business.  Efficiency  Getting company formation support will ensure smooth running of the practices that need to be taken. Today, most registrations and forms have been moved online and are now paperless. This will ensure that there is no chance of spilled tea or dog e...
Post a Comment
Read more

Understanding Construction Insurance

Construction insurance North Wales , is made up of many different types of insurance depending on the level of cover needed for your business, however, there are three essential types of cover that you will need which includes, public liability, product liability and professional indemnity insurance. It is important to know the purpose of each type of insurance if you are a contractor so that you know that you have the correct insurance in place for your business. The last thing that you would want to do is fall short and be liable to claims that can set you back more than just money alone, when it could have been avoidable. Below is an outline of each type of construction insurance along with scenarios. Public liability insurance Public liability insurance covers you in the event that a member of the public is injured or damage is caused to them or the premises in which you are working. This may include the following: Injury. You are covered if someone makes a claim a...
Post a Comment
Read more

The Benefits of Professional Indemnity Insurance for Your Business

Professional indemnity insurance is an essential form of insurance for businesses and professionals alike. Here in Liverpool, it's especially important to ensure you have the right protection in place. With this in mind, let's take a look at the key benefits of professional indemnity insurance, so you can make an informed decision about what kind of coverage your business needs. Protection against legal action Professional indemnity insurance (PI) provides an important layer of protection for businesses and professionals by providing cover for legal action taken against them. This insurance covers the cost of legal defense in the event that a client takes legal action against you, alleging negligence on your part.  The insurance will also cover the cost of any damages or settlements that may be awarded as a result of the legal action. This is incredibly important, as legal defense costs can quickly become prohibitively expensive, even if you are ultimately found not to have be...
Post a Comment
Read more