Bennett Jones is here to help you regain control of your finances. We’ve helped thousands of customers become debt-free by using an IVA. Complete the form above to get no-obligation debt help from our trusted partner, The Debt Advisor Ltd.
Our relationship with The Debt Advisor
The Debt Advisor and Bennett Jones have common Shareholders. The Debt Advisor Ltd is authorised and regulated by the Financial Conduct Authority to provide debt counselling and debt adjusting services to people who are experiencing financial difficulties. The Debt Advisor Ltd will advise you regarding all of the solutions which are available to help you. There is no charge for initial advice relating to the debt solutions available to you and is without obligation. Depending upon the solution that you choose, fees may apply.
Tax and VAT
Employed workers have income tax automatically deducted from their wage/salary (the more you earn, the more you’ll have to pay). However, the self-employed need to prepare and file with HMRC their own tax returns, calculating the amount of income tax for which they’re liable. Advance payments, known as Payments on Account, may also need to be made. It’s all too easy to fall into income tax or VAT debt. Given that the amount you owe is subject to change every year, underpayment is a real problem.
Creating a budget
Budgets allow you to have more control over what you spend and keeps a check on your income and outgoings. Having a budget also helps you to plan for your future, pay off existing debt and save each month. Taking the first steps and facing up to the specifics of your debts can often be the hardest part.