Self-assessment and tax relief on charitable donations

Self-assessment and tax relief on charitable donations

While December is a month of splurging, January is typically associated with cutting back – whether that’s on food, alcohol, or spending.

If one aim this year is to improve your financial situation, increasing income is just as important as reducing spending. One area often overlooked is finding ways to claim everything you’re entitled to. This is especially important if you’re one of more than 10 million people completing their self-assessment tax return ahead of the 31 January deadline. 

Self-assessment 

Self-assessment is a system used by HMRC to collect tax. If you’re an employee, tax is usually collected automatically from your monthly salary and shows up on your payslip. But if you’re self employed, or have additional sources of income such as savings interest or rental income, you have to declare your income to HMRC and offset against that any expenses that attract tax relief. The more tax relievable expenses, the less tax you have to pay, which means more money in your pocket.

So when you’re completing your tax return it pays to make sure you’re claiming all the tax relief you’re entitled to. 

read more


You may be missing out on thousands of pounds of unclaimed pension tax relief

You may be missing out on thousands of pounds of unclaimed pension tax relief

Are you missing out on unclaimed money?

While celebrating the success with a client of her new job and impressive payrise, I suggested she ask some questions of her existing pension provider, and the pension provider at her new job, to explore her options.

During our discussion, I asked whether she was claiming higher rate tax relief on her pension contributions. She wasn’t aware that this was something she needed to do. She didn’t know she could claim, or that it was up to her to claim. Nor that by not claiming she could have been missing out on thousands of pounds.

read more


Women and money

Women and money

I'm just back from another incredible WOW event, this time for the first Women of the World Festival in Exeter.

It's such a privilege to be asked to run a workshop on my favourite topic at such a prestigious event and to have such an engaging audience to talk to. There is something quite magical about WOW - being part of a movement that both celebrates the incredible achievements of women and girls, as well as talking through some of the tough subjects that get in the way of our success or of achieving our full potential. My workshop was called 'Getting personal with finances' ...

read more


Training as a Financial Coach – what’s it like?

Training as a Financial Coach – what’s it like?

It’s all well and good for me to tell you what my Financial Coaching Training course is like from my point of view, but the best person to give you a real insight is someone that has done it. I asked one of my trainees (who has just begun practicing as a Financial Coach) to tell her story. 

Also, check out some photos from past training courses and have a read through our FAQs

What made you want to become a Financial Coach?

I wanted to help others with their financial journey. Training opportunities were limited but through my research I found Simonne’s website and did a bit of reading around her philosophy and her work. The turning point for me was when I listened to her podcast and I felt like I was listening to a kindred spirit and it was then that I decided to train with Wise Monkey Financial Coaching. 

How did you feel when you arrived?

I was nervous when I turned up on that first day, I wasn’t really sure what to expect! Would it be all chalk and talk? Would I be able to keep up? Well, I needn’t have worried at all! Simonne was so warm and welcoming that all my fears and nerves just disappeared. 

What was involved in the training days?

We covered so much in the few days. I learned ...

read more


Could a money coach solve your money problems?

Could a money coach solve your money problems?

Flic Everett, 46, is in debt, has no pension and does not own her own property, so she put her trust in me to help her get a grip on her finances, and to improve her relationship to money. 

This article in the FeMail gives you Flic’s account of what she got out of our sessions and from the work she prepared in advance of us meeting. It also gives you insight into what goes on in a coaching session and some of the exercises I use.

Read the article here

read more