Talk Nerdy To Me: Tax Codes (What Do The Letters Mean)

finance Oct 29, 2019

Okay so nearly everyone is entitled to a tax-free personal allowance, which means that you can earn a certain amount each year without being taxed.

This tax year 2018/2019 (if employed) your tax code is likely to be 1150L, it means your allowance is £11,500.

Not sure if yours in correct try out a Tax Calculator.

Tax Brackets

This is for the tax year 6 April 2018 to 5 April 2019.

Band Taxable Income Tax Rate
Personal Allowance Up to £11,850 0%
Basic Rate £11,851 to £46,350 20%
Higher rate £46,351 to £150,000 40%
Additional rate over £150,000 45%

What do the letters mean?

Okay K, L, S what does these letters at the end of our codes mean?  The letters in our tax code refer to our situation and how it affects our Personal Allowance.

W1 or M1 – at the end which stands for W1 (week 1) and M1 (month 1) means you are being emergency taxed and your tax is being calculate on what you are paid in...

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The new investment trend that’s getting women excited

investing Oct 29, 2019

Life as we know it for the modern lady is busy! Our days are packed with work, kids, travel, family commitments, house work, study, side-hustles, socialising, exercise… and usually minimal down-time…
The daily to-do’s are constant and can easily distract us from focusing on some of our ‘bigger picture’ goals, like (drum roll) starting to invest. Before we know it, days, weeks and months can fly-by and we’re still yet to take 5, and commit time to our goals.

Here’s to technology!

Technology has been a huge enabler for women. Not only has it increased accessibility to information, education and a range of products and services, it’s made aspects of our lives easier and in many ways, helps buy us time, our most valuable resource. We can now do almost everything online – our banking, grocery shopping, apply for jobs, find a new home, buy a car, book a holiday… all with the click of a button.
And, when it comes to our finances,...

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How To Test A Side Hustle Idea

money advice Oct 29, 2019

There are many reasons why you might want to start a side hustle! Extra cash, financial independence, test a business idea, pay off a student loan… you get my drift. Never has there been a better time to start a side hustle with cost of entry to get into a side hustle low, websites are cheap and you don’t need an office to do this, and you can start from home.


Last night 90 women joined She’s on the Money at Karmarama in Farringdon for Get Your Side Hustle On!

Skye Robertson from Escape the City broke down on Thursday night how to get clear on your idea criteria:

1. How easy will it be to launch?

2. How easy it will it be to make money?

3. How much time will it take to operate?

4. Does it match my non-negotiables?

5. Do I care about the problem/need/product?

6. Am I excited about it?

And then how to create a MVP – Minimal Viable Product to test your idea, this:

1. Creates value

2. With minimal amount of effort.

3. With a feedback loop to learn...

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Debt Me Outta Here

Uncategorized Oct 29, 2019

Have you received a letter recently telling you that you have ‘persistent debt’? This can be especially alarming if you don’t think that you’re in debt. If you’re like us and haven’t heard of the term before, ‘persistent debt’ refers to when you are paying more interest and charges on your credit card than you’ve repaid on the amount borrowed, calculated based on your activity over the last 18 months.

What’s more, having persistent debt can make it more likely that you’ll get into difficulty with debt in the future as minimum payments tend to only cover interest and charges on the debt, or only chip away a very small amount of the balance (StepChange).

So, now’s the best time to get on top of those monthly repayments and really calculate your debt priorities and action plan; this month StepChange Debt Charity are raising awareness about ‘persistent debt’ and how to manage minimum payments, alongside...

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Our 5 main investing takeaways from Girls Just Wanna Have Funds

Rachel O’Connor Director of Flourix Wealth and Betsy Westcott have helped by putting their top tips together for us! Thanks Rach (we are sending you a telepathic high five).

1. Write, Aim, and Fire at your Goals
The point of investing is to get you to your goals. It’s not about talking up the next hot tech stock over brunch with your friends, simply beating the share market for fun, or buying property so you can add ‘investor’ to your Linkedin profile. It’s all about YOU, YOUR goals and getting YOU there to live the life you chose.
So the first thing you need to do is write down your goals and (hot tip alert!) be as specific as possible. Then you aim at your goals. Divide them up into short term (1-3 years), medium term (4-6 years) and long term (7+ years). Identifying the timeframe is going to determine the kinds of investments you will make and therefore the results you achieve. You’re now ready to fire!

2. Tap the magic of...

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Believe it or not you’re a giant ATM

investing Oct 29, 2019

Marnie Maloney

Let’s face it, insurance is a grudge purchase. There are about a million other things that you would rather spend your money on, right like brunch, booze, holidays, investments? You might be thinking, if I don’t have a mortgage or mouths to feed, why is it so important to take out life insurance or income protection?

You are the MVP (most valuable asset) and you need protecting

Taking out a home loan or starting a family are often triggers for women to start thinking about life insurance, but the truth is from the moment you join the work force, your ability to earn an income is your most valuable asset. You may not be earning millions now but your ability to work and make money is your key to reaching your financial goals later in life.

Life insurance and income protection policies are a great way to provide financial certainty when your physically vulnerable.

Anything can happen, so it’s best to cover off all possibilities. The good news is that...

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8 Top Tips For (Actually) Sticking To Your Budget

budget Oct 29, 2019

Are you a chronic over spender? Often splurge on impulse buys? Can’t workout where all your money’s gone by the end of the month? Even if you start off the month with the best intentions, your colour coded 4 page budget isn’t much use unless you manage it well.

Sometimes people can feel restricted by the words BUDGET (like it takes the fun out of life) – but on the contrary having a budget can actually bring you financial freedom!

Here are our top 10 tips for managing your budget like a boss. 

1. Set a goal. You don’t get on a plane without knowing where you’re going (unless you’re being surprised by a super nice getaway). Likewise, there’s no point setting up your budget without a goal in mind, otherwise it’s just a pile of numbers on a page! Make sure you’ve got a clear financial plan ahead. Check out our video on goal setting!

2. Automate. Ever have that stomach dropping feeling of...

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13 ninja money saving tips from the experts

Uncategorized Oct 29, 2019

In the world of FOMO, YOLO and the temptation of Uber Eats, ASOS and Amazon Prime only a click away… we get it saving can be challenging. Now we know this sounds like a first world problem and our parents say “saving is easy just spend less than you earn’, (sorry mum) this is way harder than said. Many women who are joining our online Facebook Group keep saying, their biggest money issue is that they can’t save…. so we have listened and have gone out to some of our fave money bloggers to find out what are their best tips.

It’s time to get money savvy ladies!


1. Pay yourself first. Set up a direct debit straight after payday into a separate account. If you wait till the end of the month to see what’s left, it might be very little!

2. Go on an unsubscribe spree. Clear your inbox of marketing emails, and you’ll be much less tempted to...

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4 Ways To Make The Most Of Your Pension In Your 20s And 30s

financial Oct 29, 2019

When you’re young retirement can seem like a really long way off, and with recent headlines speculating that you might not be able to claim your State Pension until you’re 75, it probably is.

Yet while it’s easy to put it off and tell yourself that you’ll sort it out later, you could be missing out on free money in the meantime – whether it’s from your employer or HMRC.

Read on to find out the benefits of starting to save sooner rather than later and learn how to lay the groundwork for a comfortable retirement, now.

1. Capitalise on the power of compound interest

Compound interest wasn’t named the eighth wonder of the world by Albert Einstein for nothing, so it seems only right that it tops this list of top pension tips. As any investment buff will tell you, the power of compound interest can have a significant impact on your savings over time and, better yet, you don’t need to be a maths whizz to make the most of it.

The term...

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American Expat Finance Question and Answers

Uncategorized Oct 29, 2019

Liz from British American Tax has given us some A’s to your Q’s about American Expat Finance, check it out below. 

Q: Property and selling property in the UK when one of the property owners is American. We are interested in hearing more about tax implications with our property when we come to sell it and if there are any exemptions to our tax requirements to the US.

A: Tell us six months before the sale! We’ll figure your US capital gains. If tax will be due, gift a part of the house to your spouse.

Q: What do I need to know about buying property in the UK?

A:   Gazumping!

 You get the mortgage AFTER you find the house, not before.

Q: How do tax codes work

A. That’s your boss’s bookkeeper who has to deal with that. You can ignore them.

Q. Can we take pension if we move abroad and legalities around investing

A. Yes, do… but be prepared to make a treaty claim under the US UK income tax treaty...

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