Streets Chartered Accountants covers tax changes, mortgages, Foreign Exchange and more in its latest monthly news roundup.
Basis Period Webinar – catch up
Streets recently hosted a webinar about changes to the way the self-employed and those in business partnerships are taxed. It aimed to provide a clear understanding of what the basis period is, the recent changes, who it affects, when it takes effect and considerations for those affected. This presentation was recorded and is now available on demand for those who weren’t able to join live. Watch now to catch up.
Mortgage mayhem… time for advice
As of 6th October, we have seen multiple lenders fall below 5% interest charged on some fixed rate residential mortgages, with a rate war appearing to break out between the lenders and further announcements being made every day. The consequence is the difficult consideration for clients to decide whether they fix now or try and hold out whilst rates continue to fall. This month the base rate held for the first time after 14 consecutive months of increases, which has been a catalyst for rates falling. This gives cause for optimism of falling interest rates and inflation, which in turn should lead to mortgage rates falling further. Read more.
The inflationary challenges of managing a businessManaging a business during a period of high inflation certainly brings its own set of challenges. For some younger business people and perhaps even older ones, this is something that has not been faced before. Perhaps explaining more about what inflation is might not be necessary as we are exercising the effects in our daily lives, but for context inflation is the sustained increase in the general price level of goods and services. It is a complex economic phenomenon that affects various aspects of an economy. Businesses, regardless of their size or industry, are not immune to the far-reaching consequences of inflation. Read more.
Do you know the true cost of your FX/Foreign Exchange?One of the more complex and often overlooked areas for a business to manage is ensuring they know what their international payments are truly costing them. The good news is that help is on hand through Streets Banking & Finance’s long standing partnership with a global Foreign Exchange specialist. In tandem with their specialist’s help, Streets can assist clients with the provision and cost of Foreign Exchange. By completing a complimentary currency health check, Streets will be able to demonstrate whether you are on a ‘good deal’ or if in fact there are savings to be made. Read more.
