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At Hudson & McCullum we...drive your business forward

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ISA limits update

What Our Clients Say

I used to think that all accountants were sleazy, blood sucking leeches. After 6 months’ worth of interaction with Irfan, I no longer believe this to be the case. It is a pleasure to have someone who genuinely has your own interest at heart. Irfan is honest, hardworking and punctual. all that you can ask for in an accountant. dare I say it…. even a friend!

"Rami Tanios (Director) " - Heritage Homes Limited

I found Irfan online after having a very negative experience with my first accountant and a distant and confusing one with the second. Irfan is easy to communicate with, quick to respond, professional and knowledgeable. He has taken the time and care to help me understand what I need to do and how best to do it in relation to my limited companies, VAT and self-assessment. I would highly recommend Irfan’s services.

"Rachel Cooke (BA MA Dip MNCP MNCH) " - Whitesobrite Limited

Irfan has handled my business for two years now. As someone who has difficulty remembering his own birthday, I needed someone who would make sure that all of my accounts were settled in time with HMRC and Companies House deadlines. Irfan has been relentless in ensuring I wasn’t late for important submission dates and for handling our payroll like clockwork. He has been an amazing resource and I would recommend anyone to hire him – especially if you’re just starting out and need someone reliable you can trust.

" Marc Quinn (Director) " - Powerlights Incorporated Limited

As someone who had newly formed his own start up, the most important thing for me was to find someone that could show me the ropes from an accounting standpoint, and low and behold Irfan was that guy. Irfan has been my accountant over the past 3 years and as a Client I could not be happier. Even though I tend to bombard him with questions and queries about letters/information I received from HMRC and companies house, he NEVER failed to get back to me and answer them in a timely manner. When it comes to finding solutions to accounting issues or coming up with the best personalized strategy to overcome paying more tax than I needed to, he delivered the goods. Dependable, reliable, patient and flexible are just some of the words I would use describe him. Thank you Irfan for all you have done…

"lan Michaels " - Locum Pod Limited (Podiatric Medicine)

Over the time we have worked with Irfan he has become a real asset to our company. With his help and guidance, he has looked after the company’s finances and advised us about how we can improve the company in specific areas and cut back in others. It has allowed us to understand our company in more detail and to get on with what we need to do to grow as a company, without worrying about all the financial issues which entail with running a business. His advice, understanding and professionalism is fantastic. Long may our working relationship continue.

James Hillman (Director & Fashion Designer) - James Hillman Limited

Since our company has starting working with Irfan, he has been a great asset for us. His services has been impeccable and his very approachable, proactive and efficient. He supports us with our bookkeeping, VAT, PAYE and corporate taxes. Hudson & McCullum has saved us lots of money on our taxes.

Karen Enoe (Director) - A.I.M.S Support Services Limited

Irfan is professional that goes beyond his mission and tasks. He honestly has tried first to understand me and my business. He has been flexible and devoted time with a high generosity. He has been able to adapt to my schedule and needs during the full year. Always open to serve and render his great expertise and knowledge. He is an expert accountant and is, at the same time, a great individual. I feel in the best hands. Always proactive and ready to support and teach. I a learning new accountancy concepts thanks to his patience. I am very thankful to have Irfan as a trusted partner in the U.K.

" Carolina Caparrós Alvarez (Director) " - Talento Direct Limited

Newsletter issue - March 2018.

The maximum annual investment limit for Individual Savings Accounts (ISAs) will remain at £20,000 for 2018/19 (of which, for eligible investors, £4,000 may be saved in a Lifetime ISA). Although the investment limit is not rising in the new tax year, a couple will still be able to add up to £40,000 to their ISA accounts during the year - a substantial investment limit - and the interest received will be tax-free.

The maximum investment limit for Junior ISAs will rise from 6 April 2018 to £4,260, so there is scope for parents and grandparents to make tax-free savings investments on behalf of their children/grandchildren. Since it is possible for children to hold both a Junior ISA and a Child Trust Fund (CTF) (the CTF investment limit for 2018/19 is also rising to £4,260), there is plenty of scope for investors to look for higher-yielding products.

Help-to-buy ISAs continue to be available to assist first-time buyers save a deposit to purchase their first home. Under this relatively new scheme, up to £200 a month may be saved (along with an initial deposit of £1,000, and up to a maximum of £12,000) and, subject to certain conditions, the government will provide a 25% boost to the savings up to a maximum of £3,000 per person. A couple buying together could therefore save up to £30,000 tax-free towards the purchase of their first home, but it will take around four and a half years to achieve this level of savings using the Help-to-buy scheme.

Lifetime ISAs can be used by people aged between 18 and 40 to save for a first home or later life (again, subject to certain conditions). A total of £4,000 may be invested each year until aged 50. The Government will add a 25% bonus to savings, up to a maximum of £1,000 a year.

Unfortunately, the Government has recently confirmed that the new Help-to-Save scheme will not be fully available until October 2018. Ministers had originally said that the new accounts would start 'no later than April 2018' but this is not to be the case. This new type of account is designed to encourage people on low incomes to save for a rainy day by offering a 50% government top-up on savings. Over time, eligible individuals should be able to save a total of £2,400 in qualifying accounts, and receive bonuses of up to £1,200.