Should you be a sole trader or a company? You might think it is just about the name, but there are many other things to look at when considering whether you Should you be a sole trader or a company?. The choice will impact on many areas of your business, for example...
Are you a self-employed individual, a freelancer or employer? Have you ever wondered what your tax and status situation is with your company? If so, this podcast is for you. Whether you are classed as self-employed or a worker has a major bearing on tax. Most...
VAT or Value Added Tax is this week topic of I Hate Numbers. In the UK alone VAT raises £136.6 billion. This is approximately £4,800 for each household, 17% of the total UK tax take. The majority of countries have VAT or sales taxes, so VAT is a big deal. In this...
In this episode of ‘I Hate Numbers’ I talk about Tax and your self-employed business. I dive deeper in this week’s podcast and look at the difference and add some numbers. If you are self-employed, you are basically your own boss. This was the topic of my podcast last...
Above all, when setting up a business one of the first considerations you will have to make is whether to operate as a Limited company vs sole trader. At its core, what this means is the distinction between you and your business. To clarify, a limited company...
Sole trader or limited company and Choosing your business structure to save tax ? Previously I talked about the differences between a sole trader and limited company. What you need to consider when deciding what business structure, you should adopt. You cannot make...
Five mistakes to avoid on your UK tax return is this weeks short video. Are you dreading your UK tax return for 21-22, and want to avoid making mistakes and facing penalties? Have no fear, I Hate Numbers is here to guide you through the process, and help you avoid...
Many small businesses in the UK are Using the cash basis for tax. This is a simple and straightforward way of accounting for your business income and expenses. In this video I'll explain how to use the cash basis for tax and highlight some of the benefits it offers. ...
Self-employed tax returns can be daunting, but they don't have to be! This weeks I Hate Numbers podcast takes you through how to fill in your self-employed tax return for the year 21-22. I'll explain everything you need to know, so you can be confident...
Completing your self employed tax return 21-22 can seem daunting, but it doesn't have to be. This video, part 2 of 2, follows on from last week. The process is broken down, so you can ensure that you're getting the most out of your tax return. Whether you're a first...
How to complete your self-assessment return 21-22 Why do you need to know How to complete your self-assessment return 21-22 ? Well, are you self-employed or run a small business? If so, you'll need to submit a tax return to HMRC for the financial year 21-22....
How to prepare your tax return 21-22 may not get the pulse racing. For some it may cause anxiety, apoplexy and poking eyes with sticks may come to mind. However, if you are one of the 10.2 million + people that must complete a self-assessment tax return it’s a...
If you're running a business, you need to need to factor in that Bookkeeping is Big Deal. Are you serious about your business and keeping on top of your finances? If your answer is yes, and I hope it is then keep track of your financial transactions. You may think...
Do you ever find yourself putting off important tasks, like Procrastinating when Financial Planning? You're not alone. Procrastination can be a major obstacle to getting things done. But don't worry, there are ways to overcome it. In this podcast , I'll...
Are you one of those people who has a lot of good intentions but never seems to get around to doing anything? If so, you may be struggling with procrastination. Procrastination is the act of delaying or postponing something that needs to be done. It can...
Using the balance scorecard plays a major role in managing your business. You're a business owner, so you know that making money is important. But it's not the only thing that matters. You need to have a balanced perspective when looking at your...
Your mindset approach to money Do you approach money with a positive or negative mindset? If you don't have a clear answer, it's time to think about how your money mindset is impacting your finances. Having a positive money mindset leads to better financial...
Using a Risk Register to manage risks is this weeks I Hate Numbers podcast When it comes to risk management, most business owners and entrepreneurs think of insurance policies and legal contracts. While these are both important aspects of risk...
Dealing with Business Risk is an inevitable part of our business lives Risk is a part of life. For entrepreneurs, self-employed professionals, and small business owners, risk is unavoidable and part of our business lives. Whether it's the risk of...
When it comes to financial planning for your business, there are many things to consider. One important part of your overall plan is your financial story plan. This document lays out how you expect your business finances to grow and change over time. It can be...
It can be easy to put off creating your business financial story plan - after all, who has time for that? But don't underestimate the importance of this document. Your business financial plan is vital, serving as both your road map and your trusty...
How to do your personal budget is this week’s I Hate Numbers podcast topic Worried about your personal finances? How to do your personal budget is the answer! It will help you keep track of where your money is going and how to make the most of it. With a...
How to change your approach to money builds on last weeks episode.You can, and should change your approach to money to supercharge your finances. If you find you don’t handle money well, don’t save money, or just don’t know how to budget, here are seven...
Money is one of the most important things in our lives, but it's also one of the most misunderstood. We often think of money in terms of how much we have, and how we can get more of it. But what if we thought of money differently? What if we approached...