What Are Tax-Free Trivial Benefits? Trivial benefits are small perks given to employees. They’re tax-free if they meet certain conditions. Employers can give these without triggering tax or National Insurance. Think of them as small gifts, not rewards. HMRC sets...
Want to provide Tax-Free Health and Welfare Benefits and reduce tax liabilities? Good news. You can do both. In this blog, we explore five tax-free health and welfare benefits. These benefits help your team and keep your payroll costs efficient. Even better, they...
What are the benefits of filing your tax return early. Why could this be one of the best financial decisions you make this year. While the Self Assessment deadline for the 2024/25 tax year isn’t until 31 January 2026, early submission has real advantages. Let’s break...
Hiring staff is a significant decision for any business. We know that it comes with both opportunities and challenges. In this episode, we will break down the costs and benefits of hiring employees versus freelancers. Additionally, we will explore why making the right...
When it comes to achieving high efficiency and reducing costs in business, the principle of economies of scale is what we need to understand, and then plan for it. This concept applies to all sorts of businesses - be they sole traders, LLCs or not-for-profits. It also...
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 […]
Have you heard of benefits in kind? If you haven’t, then read on to find out how this particular strategy can increase your tax savings as a business owner. What are benefits in kind? Well, they are perks or advantages provided to employees (directors as well) in...
At "I Hate Numbers," we emphasize the critical role of tax planning for business owners and employers alike. Managing taxes efficiently isn't just a legal obligation—it's a strategic imperative. Today, we delve into a powerful yet often overlooked...
In our pursuit of simplifying clients' lives and alleviating stress, the "I Hate Numbers" podcast delves into the benefits of cloud accounting this week. Time Saving Benefits Transitioning to cloud accounting not only saves time but also...
In this episode, additionally, we delve into the importance of planning in business endeavours. As entrepreneurs, we're often enticed by spontaneity and agility, yet the question remains: is it truly viable to forgo meticulous planning? Let's explore the...
Are you looking to make a difference while maximising your financial benefits? Tax effective giving is more than just a charitable act; it's a smart way to give back that can offer significant financial advantages. With tax effective giving, you can experience the joy...
Are you aware that your charitable giving could have a significant impact on your tax situation? Charitable giving and taxes may seem like distant concepts, but they're closely related in the world of finance. Introducing tax relief for donations to charity. Tax...
In this episode, we explore the world of modern finance as we talk about the remarkable power of cloud accounting. Unlike traditional methods involving spreadsheets or desk-based systems, cloud accounting is a contemporary approach to managing your...
When it comes to choosing a business structure in the United Kingdom, limited companies offer a range of advantages that make them an appealing option for entrepreneurs. This video will delve into the benefits of being a limited company, emphasizing its flexibility...