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Business owners are not exempt from the effects of inflation, but unlike waged individuals, they may have more options to increase cash flow. Here’s a few ideas you may like to consider:
Wage earners will have other options to increase their monthly cash flow. For example:
And earning £1,000 or under in a tax year from either renting out part of your home or selling/hiring under-utilised assets is tax free.
And finally, if you have spare rooms in your home, you may be able to rent these tax-free as long as annual rents received do not exceed £7,500 and you are resident in the same building.
If you would like to expand on any of these ideas, be happy to discuss your options. Please call.