Money Makeover – Safeguarding the future
Marc Burman, financial planner and Partner at Foster Denovo, features in The Telegraph’s latest Money Makeover article.
Hannah, who has been a self-employed wedding photographer for eight years and recently made the decision to push up her prices in a bid to boost profits, wants to ensure she saves enough for her future. Concerned, as she has no private or workplace pension, Hannah wants to know what the best way to save is.
Featuring in the article, Marc Burman, financial planner and Partner at Foster Denovo suggests, “The starting point for Hannah’s financial plan should be to consider her debts. All should be paid off as soon as possible and she should start by paying off the most expensive first.”
Marc continues, “As Hannah has put up her prices, she should be conscious of the current £85,000 VAT threshold (the turnover threshold which determines whether she should be registered). If Hannah’s income goes over this amount in a rolling 12-month period she must register for VAT with HMRC.”
You can read the full article and Marc’s guidance on The Telegraph here.