UK Savings Week 2023 (September 18th – September 24th) is here!
Our financial experts are here to provide financial advice tailored to Self-Employed and British professionals.
This will assist you in managing your finances more effectively, without the complexity of jargon and cumbersome procedures.
Whether you’re looking to build up an emergency fund or plan for the future, make the most of Savings Week to take your first step towards smart financial management.
Savings Habits
Whether you’re a professional or an entrepreneur, setting aside savings can help you weather tough times.
A study indicates that 15% of UK residents have no savings, and the majority have less than £12,000 saved up.
If you’ve set savings goals for yourself and have substantial savings, you’re ahead of most people.
Establishing a savings habit can be challenging, but you can use savings accounts to meet regular savings targets.
When you achieve a savings milestone, responsible spending can bring greater happiness and a sense of accomplishment.
Check for Missed Benefits and Allowances
If you live in the UK, your circumstances may make you eligible for benefits and subsidies. Regularly checking for some commonly overlooked allowances can give your savings an extra boost.
If you have a spouse or life partner, see if you qualify for marriage allowances, which can be backdated for up to four years.
If you have children, you can apply for child benefit and tax-free childcare.
If you’re a self-employed entrepreneur working from home, you may also be eligible for tax deductions on travel expenses and a portion of your utilities.
Savings for Self-Employed
If you’re an entrepreneur, we strongly recommend opening a business bank account.
This provides you with a clear view of your income and expenses, reducing accounting stress.
If your business lacks a dedicated finance department, choosing our accounting team can save you both time and money.
Our team not only assists small and medium-sized businesses with annual accounts and VAT returns but also handles employee payroll and other related services.
