What it means for contractors and the self-employed is…
The main focus of the Spring Statement was the state of public finances. And, whilst this ‘bigger picture’ of the economy as a whole may not seem of great relevance to individuals, contractors, and the self-employed, it’s worth remembering that the overall health of the economy impacts on tax policy, which ultimately affects every one of us.
Great reviews have led to an award for CMME, for the second year running! The team here at CMME are delighted to have received the award in recognition of the fantastic reviews received in 2017.
The Feefo Gold Service award is an independent seal of excellence that recognises businesses for delivering exceptional experiences, rated by the customers.
Two trends have moved in precisely opposite directions since 2008 – while self-employment has moved up every year, the percentage of Britons owning a home has declined. However, the headlines relating to housing have never connected these two trends. In fact, many of the headlines the day after Phillip Hammond’s budget update focused on the elimination of stamp duty for first time buyers on purchases up £300,000. All else being equal, this would reduce the cost of buying a home for a first-time buyer by up-to £5,000. The cynic might say that p
Faced by stricter borrowing regulations in the buy to let (BTL) market, many landlords and property investors are concerned for the future of their business. With the changes scheduled for the end of the month - a result of the Bank of England’s attempt to enforce tougher lending rules on those that own four or more properties - many buy to let landlords have been left wondering what effect the measures are likely to have how they can adapt to the new market conditions. Here we take a look at the BTL changes and consider what they mean for those involved in the property market.
Speaking in a short YouTube video, the Chancellor of the Exchequer, Phillip Hammond, announced that the Autumn Budget for 2017 is scheduled to be delivered on Wednesday the 22nd November. With the UK facing economic uncertainty and the prospect of challenging divorce negotiations with the EU, the Chancellor has decided to declare the nation’s major fiscal policies in Autumn for the first time in over 20 years.
As of late, I have encountered a couple of repeat questions from my clients, which is unsurprising given the number of changes that are constantly being implemented, so rather than provide you with an article, I have this time decided to answer a couple of the common questions that the contracting world seem to have around pensions and mortgages;
Through my limited company, I take a low salary and dividends. How much am I able to contribute to a pension as the company director?
What is a fixed rate mortgage?
A fixed rate mortgage is a finance plan that holds interest rates at a certain level for an agreed period of time.
For example, you may take out a fixed rate mortgage that freezes the interest you pay at 1% for 5 years. This means you’re tied into paying 1% interest on your mortgage, no matter what happens to interest rates in the wider economy.
In good news for those trying to get a foot on the property ladder, recent figures indicate that the average price paid by first time buyers dropped by 10% in August.
As the market reaches the end of the slow summer period and the industry looks forward to a rise both in sales and prices, statistics show that first time buyers are at an advantage, despite there being an estimated average of nine buyers chasing each available property.
While on the surface it may appear that the Bank of England has decided to continue holding interest rates at their all time low, many of those paying closer attention are convinced important changes to the Bank’s monetary policy are on the horizon.
AS THE NEW SCHOOL YEAR KICKS OFF, WE TAKE A LOOK AT THE GENERALLY ACCEPTED NOTION THAT SCHOOLS PLAY A KEY ROLE IN DECIDING LOCAL HOUSE PRICES.
Proximity to local school services is usually one of the first things to be included on an estate agent’s sales particulars, often appearing before other important details such as the number of bedrooms, bathrooms, and reception rooms.