4 Contractor Financial Jobs You Shouldn’t Put Off in 2018

With 2018 well and truly here, getting in shape is one of the top new year’s resolutions. But you shouldn’t just focus on physically and mentally getting in shape – let’s look at financially as well.

Here are our top 4 contractor financial jobs you shouldn’t put off in 2018.

  1. Self-Assessment Tax Return

The self-assessment tax deadline is looming. You only have until the 31st January to fill in the online self-assessment tax return. Contractors should get in touch with their specialist accountants if they are struggling to fill out the tax return form.

Please note Super Contractors does not offer advice on taxation matters. You should contact your accountant or other suitably qualified person to confirm whether this product is appropriate for your circumstances.

  1. Remortgaging

In November last year, the Bank of England increased the base rate from 0.25% to 0.5%*. The first increase to the base rate in 10 years.

With this increase, mortgage lenders have started increasing many of the lower rates that many contractor borrowers have been enjoying. By reviewing your mortgage, you could secure your mortgage onto a new competitive fixed rate while they still exist (2, 5 or even some 10-year fixed rates are available).

Super Contractors can search for contractor remortgage deals on your behalf with major high street lenders who will consider (subject to terms) a Day Rate contractor.

Speak to one of our expert contractor mortgage advisers about reviewing your mortgage.

*BBC, November 2017 http://www.bbc.co.uk/news/business-41846330

  1. Life Insurance

A new year gives you the time to look back at changes in your life. You may have got married, had a child, a new home or even be earning a higher day rate than you were previously. With changes in your life, you should update your life insurance to reflect these changes.

Updating your policies to include things like critical illness cover, which could pay out if the worst were to happen and you are diagnosed with cancer, have a stroke or even have a heart attack.

Other policies include income protection, which comes to the rescue in the event that you are forced to hang up your cape due to injury or illness. It matches your monthly outgoings until you return to paid work or retire.

As a contractor you need to ensure you have protection in place as unlike regular employees you’re not covered by regular workplace insurance policies.

Speak to our expert contractor protection advisers about updating your life insurance.

  1. Your Will power

If the worst was to happen, you’d want to have your estate and financial planning sorted out.

Without having a will in place, there could be a potential disaster in terms of distress caused to families, unnecessary legal fees and money lost to the taxman. Without the proper legal documentation your dependents future could be decided by the local authority.

You wouldn’t want to leave it too late.

Please note Super Contractors does not offer advice on wills. You should contact a suitably qualified person to confirm what is suitable for your circumstances.

Get yourself in good financial shape this year, speak to our expert mortgage and protection advisers at Super Contractors.

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This firm does not charge a fee for mortgage advice.

Your property may be repossessed if you do not keep up repayments on your mortgage.

Contract Mortgages Ltd trading as Super Contractors is an appointed representative of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority.

Life Insurance – Your Options

As a contractor you need to ensure you have the right protection in place as, unlike regular employees, you are not covered by workplace insurance policies.

Life Insurance: What You Need to Know About Trusts

Dealing with money issues after the death of a loved one can be extremely distressing. It is not the time when you will want to deal with complicated financial issues and unfortunately probate is a complex and time-consuming process which can take up to several months to complete.

Putting your life insurance into trust can be an option to remove some of these complicated financial issues. Read on for our infographic on What You Need to Know About Trusts.



Trusts - Client