Common Questions
Frequently Asked Questions
I'm a Fulham media professional with multiple income streams. How is my tax structured?
Media professionals often have employment income, freelance fees, presenting or appearance fees, royalties and sometimes equity in production companies. Each stream has potentially different tax treatment and we ensure your self-assessment captures all correctly. We also advise on whether a personal service company suits your activities and claim all allowable professional expenses - agent fees, subscriptions, equipment, travel.
Fulham property values are high - what are the IHT implications?
For estates including high-value Fulham property, IHT at 40% applies above the nil-rate band (£325,000 plus up to £175,000 residence nil-rate band if passing to direct descendants). For wealthy households this is a significant liability. We provide initial IHT planning on gifting, trusts and life insurance in trust as mitigation.
I own a Fulham buy-to-let. Should I incorporate into a company?
For higher-rate taxpayers with significant mortgages, incorporation can reduce the effective tax rate through full mortgage interest deduction versus the Section 24 restriction. But SDLT on transfer for high-value Fulham property is substantial and CGT may be triggered. We model the transfer costs against projected long-term savings over your expected holding period.
Do you work with Fulham sports professionals?
Yes. Sports professionals have complex affairs - image rights, boot and sponsorship deals, overseas income, agent fees and contract payment timing. We handle self-assessment for sports professionals, advise on image rights companies and ensure all income is correctly reported to HMRC.
Can a Fulham self-employed professional claim a home office deduction?
Yes. If you use part of your home exclusively and regularly for business, you can claim a proportion of housing costs. For a Fulham professional with high mortgage or rental costs this can be a significant deduction. We calculate the correct proportion and methodology for your setup.
I receive a large annual bonus working in Fulham. How do I manage the tax?
Large bonuses push you into higher or additional rate, and the £100,000-£125,140 band has a 60% effective rate from the personal allowance taper. Mitigations include pension contributions (reducing adjusted net income and recovering the allowance), Gift Aid, and timing of other income like share vesting. We model the options before the bonus is paid.
I run a North End Road market or independent Fulham business. What do you provide?
Retail and hospitality bookkeeping, VAT scheme optimisation, payroll, annual accounts and Corporation Tax if a company, plus director self-assessment. We bundle what you need into a fixed monthly fee and set up cloud accounting with automatic bank-feed capture.
How do I get started?
Book a free 15-minute call via Calendly, or call our office on 020 8050 4564 or mobile 07478 645331. We work with Fulham clients fully online and we're experienced with the complex affairs of media, finance and sports professionals.