Earning Tax-Free Income from Renting Out Your Garage Turn Your Garage into a Source of Income Do you have a garage that sits unused? Many people forget the earning potential locked inside that space. Renting out your garage can provide a steady income stream. Even...
Do you still use old-fashioned ways to handle your business’s money, like writing things down or using outdated software? Keeping track of invoices, entering numbers by hand, and fixing mistakes can feel like you're always doing extra work. That's why the topic of...
Are you making the most of taxable benefits? This is such an underused tax strategy, yet it is so powerful. But before we go into taxable benefits, Salaries And Dividends A salary, unlike dividends, is subject to the employer’s and employee’s National Insurance contributions (NICs). A small amount is normally paid as a salary. The […]
Are you ready to take your business to the next level? If you've been searching for a way to master your business finances, reduce stress, and connect with a vibrant community of like-minded entrepreneurs, look no further than Numbers Knowhow. Firstly, let me...
Debunking the Myth about Budgeting It’s a common misconception that a budget restricts one's freedom. Quite the contrary. It’s actually a very important stepping stone towards reaching your financial and business objectives. Highly recommended: create a budget for...
The Role of a Company Director plays a pivotal role in a business. ensuring the smooth operation and governance of a company. This vlog delves into what exactly a company director is and outline their key responsibilities. Furthermore, I'll explore the concept of a...
Stress & Anxiety In Business May is Mental Health Awareness Month so here at I Hate Numbers we just wanted to remind everyone to spare a moment and consider if you are dealing with your stress & anxiety & how it impacts in the workplace. In today's...
We all know that being kind is good for our personal well being. But did you know that kindness can also be good for business? That’s right – being kind at work can lead to increased productivity, lower turnover rates, and a host of other benefits for your company....
Claiming Carers Allowance is this week’s vlog. Furthermore, you may ask why. It’s a sad fact that nearly £1.3 billion worth of unclaimed carer's allowance in the United Kingdom. That’s almost 400,000 people who care for friends or relatives who are are missing out...
Understanding holiday pay, and how to calculate it is vital for any business that has workers. Are you a business, private or not for profit? If so, then this video is for you. Firstly, I'm going to explain how holiday pay works in the UK Secondly, how you calculate...
Most importantly you need to understand the components involved with business activity and breaking even. But how do you find out what your business requires to break even? What's break even? To clarify your business breaks even when your sales cover all your costs,...
These are tricky times indeed. Although some businesses and sectors are thriving during the coronavirus pandemic, many small businesses and SMEs will be finding operating during the cornavirus pandemic very difficult, with cash being strapped, clients stopping work,...
Nearly half of the UK workforce are now working from home, and for many, it’s a new experience. Far from being an opportunity to relax in front of the television and send a few emails, it actually brings its own challenges. The ongoing coronavirus pandemic and social...
The first Coronavirus furlough grant claim portal went live on Monday 20 April 2020. What does that mean for your business. Well, it means that if you have furloughed staff, you can claim that much needed grant money. We have submitted Furlough claims for all our...
Today's blog is about how to achieve calm amid the business storm. The business storm is due to the current Covid 19 situation, it could be something else. Firstly although it's worrying uncertain times at the moment, however like with all bad situations there will...
You may have escaped hearing about COVID 19, and the affect on individuals and business – if you were living on Mars. In this blog we look at COVID 19 - Business cash flow. What is clear cut is that your businesses, are in the eye of a financial shit storm. It...
Above all, knowing your costs makes you money, a statement of the bleeding obvious perhaps. The thing with statements of the obvious is we sometimes forget the business basics. Certainly, you need to be serious about making money in your business, by money we mean...
Writing your business plan Writing your business plan is a smart way to map out your future business story. Loads of businesses don’t bother writing one, and then again loads of businesses don’t survive and thrive. A good business plan focuses the mind, brings...
Getting paid on time Getting paid on time and keeping business cash flowing is the most important thing to keep your business wheels rolling. It’s the life-blood of any business and you need it to survive, sustain, and grow. You need cash for a whole variety of...
Budgets are plans, planning is good, and furthermore budgets are plans with numbers. The budget Every organisation needs sound financial management as part its strategy, finances underpin every aspect of this work. Each activity should be planned and costed, resources must be considered. The budget is the document translating action plans into monetary terms. […]
The importance of record keeping In this blog and video we look at Why record keeping is key to your success . Bookkeeping, or keeping financial records is vital. More importantly you need to know what you are spending. You need to know where your money’s coming from. Making good judgements when you have complete […]
Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]
Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a great situation. Most importantly there is no tax or NIC to pay. In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for. In other words, don’t provide the […]
Management reports: What’s best practice? Firstly, effective decision making requires Effective Management Accounting Reports. Management accounting tells your business story on a more regular, efficient and informed basis. For this reason you should design the layout and content of your management accounts to provide the most useful data to enable good business decisions. So when […]