The UK Tax and Accounting Podcast from I Hate Numbers:

Buying your car through your business can be a smart tax planning decision, but it can also create company car tax, National Insurance and benefit-in-kind issues. If your limited company buys a car and you use it personally, the tax position depends on the car’s list price, CO2 emissions, fuel type and how the vehicle is used.

This episode helps business owners think through whether a company car makes sense, especially when comparing petrol, diesel, hybrid and electric cars. We also look at the alternative of buying the car personally and claiming business mileage from the company.

Cars are a common business question, especially for directors and limited company owners. Should the company buy the vehicle? Should you buy it personally? What happens if you use it for both business and private journeys?

In this episode, we look at how company car tax works for the individual and the business. We cover company car benefits, electric and hybrid cars, CO2 emissions, capital contributions, and mileage claims.

This follows on from our episode on Saving Tax with Company Benefits, where we looked at tax-free and trivial benefits.

Company car tax matters because a car used personally is normally treated as a benefit. That can create a tax charge for the person using the car and a National Insurance cost for the company.

Travel between home and work is normally treated as private use, not business use. Therefore, even a car used mainly for work can still create a taxable benefit if there is personal use.

The decision is not just about whether the company can afford the car. It is about the overall tax cost, running costs, cash flow, business mileage and whether the vehicle supports the business properly.

A company car is a car bought or provided by your limited company and made available for your use.

This episode focuses on cars used to carry people, not vans designed mainly to carry goods. Vans can have different tax treatment, so it is important not to mix the two.

If the company car is available for private use, a benefit-in-kind charge may arise. That means you may pay tax personally, and the company may have National Insurance to pay.

There are three key numbers to consider when looking at company car tax:

• How the car is powered, such as petrol, diesel, hybrid or electric.
• The manufacturer’s list price of the car.
• The CO2 emissions of the car.

The benefit value is broadly based on the car’s list price multiplied by a percentage. That percentage depends on the vehicle’s emissions and fuel type.

The lower the CO2 emissions, the lower the percentage tends to be. The higher the emissions, the higher the benefit charge can become.

Electric and low-emission cars can be attractive because the benefit-in-kind percentage is usually lower than for higher-emission petrol or diesel cars.

That can reduce the personal tax charge for the driver and the National Insurance cost for the company.

Hybrid cars can also receive favourable treatment, but the tax position can depend on emissions and electric range. Because rates change by tax year, always check the current figures before making a decision.

The list price matters because company car tax is not based simply on the deal you negotiated or the amount the company paid.

The calculation usually starts with the manufacturer’s list price, including VAT and relevant accessories. Then the appropriate percentage is applied.

That means a discount at the dealership may help cash flow, but it may not reduce the taxable benefit in the way business owners expect.

You may decide to make a capital contribution towards the car. This could happen if you want a more expensive vehicle than the company is prepared to fund.

A capital contribution can reduce the benefit value, subject to the relevant rules and limits. That can create tax savings for the individual and National Insurance savings for the company.

However, this needs proper calculation. The tax saving must be compared with the cash contribution you make.

Buying through the company is not the only option. You may decide to buy the car personally and charge the company for business miles.

This can be simpler in some cases, especially if the car has significant private use or if the company car benefit would be high.

Approved mileage rates can allow tax-free reimbursement for genuine business mileage. However, these rates can change by tax year, so check the current mileage allowance before relying on old figures.

Company car calculations can help show how the benefit affects both the individual and the company. However, the rates and percentages change by tax year, so check the current figures before relying on any example.

The main idea is to compare the company car route with personal ownership and mileage claims before making a decision.

• Is the car being bought by a limited company?
• Will there be any private use?
• What is the manufacturer’s list price?
• What are the car’s CO2 emissions?
• Is the car petrol, diesel, hybrid or electric?
• Will you make a capital contribution?
• Will the company pay for fuel?
• Would personal ownership plus mileage claims be simpler?
• What are the current benefit-in-kind rates?
• What will the company need to report to HMRC?

If VAT recovery is part of your decision, our episode on Claiming back VAT on cars is a useful next step.

A limited company can buy or provide a car, but if you use it personally, a company car benefit may arise. That can create tax for you and National Insurance for the company.

Travel between home and your normal workplace is usually treated as private travel. That means it can count as personal use for company car purposes.

Electric company cars can be tax efficient because lower-emission vehicles usually have lower benefit-in-kind percentages. However, rates change, so always check the current tax year before deciding.

It can be better in some cases. If the company car tax cost is high, personal ownership plus business mileage claims may be simpler and more tax efficient.

• 00:00 – Introduction to company cars and tax
• 00:28 – Should you buy your car through your business?
• 00:52 – Link with company benefits and tax planning
• 01:19 – Electric and hybrid cars
• 01:36 – What counts as a company car?
• 02:02 – Private use and company car benefits
• 02:27 – Tax for the individual and National Insurance for the company
• 02:47 – The three key numbers in company car tax
• 03:26 – List price, CO2 emissions and the benefit calculation
• 04:17 – Personal contributions towards the car
• 05:02 – CO2 emissions and tax treatment
• 06:39 – Example company car benefit calculation
• 07:24 – Company National Insurance and running costs
• 08:08 – Electric cars and tax treatment
• 08:28 – Hybrid cars and electric range
• 09:45 – Capital contributions and tax savings
• 10:49 – Buying personally and claiming business mileage
• 11:31 – Final thoughts before deciding

• Saving Tax with Company Benefits
• Claiming back VAT on cars
• Sole Trader or Limited Company: Which Is Best for You?

Buying your car through your business can be tax efficient, especially where the vehicle has low emissions, but it is not automatically the best option.

The right answer depends on the car, the list price, emissions, private use, business mileage, company costs and your wider tax position. Compare the company car route with personal ownership and mileage claims before deciding.

Plan it, Do it, Profit.

The I Hate Numbers podcast helps business owners understand accounting, tax, finance, profit, cash flow, and business planning in a practical way. We simplify financial topics so you can make better decisions and feel more confident with your numbers.

You can also watch more practical finance and tax support on the I Hate Numbers YouTube channel, or listen and follow on Apple Podcasts.

📘 Book

https://www.ihatenumbers.co.uk/i-hate-numbers-book/

🎧 Podcast

https://www.ihatenumbers.co.uk/i-hate-numbers-podcast/

🌐 Website

Today's topic is focused on one underused legitimate way of Saving tax with company benefits. Pay yourself and save personal and company tax. And yes, it's important as a business owner, you need to pay yourself. The conventional route to pay yourself is a blend of salary and dividends.  In this episode I'm going to be looking at a legitimate area of tax planning that tends to be underused.

The mission of the show is for you to get better acquainted with your numbers like your numbers more so you can improve your money mindset, make money, save time, and enjoy doing what you're doing.

You as a business owner will want to serve your customers well. You want to make money in your business, and you want to pay as little tax, legally, as you can.

Tax-free benefits, yes, there are still some. Most employee benefits have an extra tax cost to your company and the employee.  However, there are still tax-free benefits. What’s not to like

When we talk employees, this can include yourself

Listen to find out more

If you run your business as a sole trader as a self-employed individual, then benefits don’t apply to you as the owner, it will apply to people you employ. Your company is a separate legal entity from you as the owner. Your company pays tax on profits, tax on salaries, and your employees pay tax on earnings.   Earnings include benefits.

This may be an influencing factor for you deciding whether you should run your business as a limited company. Check out previous podcast episodes on your business structure and tax in your self-employed business.

Firstly. If a cost is 100 per cent business, it’s normally a tax saving. There are things your business can pay for that aren’t business related but have a personal use.

The good news is that some benefits can be provided tax free. Done correctly, you can give gifts to you and your team and no tax to pay! Please welcome trivial benefits.

Listen to learn more

Tax free and trivial benefits have no tax consequence, for either your business or your employee. Your employee can include you

Many benefits, such as company cars, and medical insurance means that tax is due by you and your employee. However, it can still work out cheaper for your business to provide those benefits.

Listen to learn more

In conclusion, providing benefits is a great way to pay you ad your staff, save tax, and all perfectly legally. Saving tax with company benefits for your business and staff is a positive move. Paying yourself via benefits route as well as cash is good tax planning

Your business needs to grow, serve and make money. How to pay you and your staff efficiently plays a vital part in you taking decisions, and what is right for your business.  Contact us to find out more.

Make yourself comfortable. Sit back and listen.

Even better subscribe so you do not miss an episode.

• Understanding what benefits are
• Appreciate what the tax free and trivial benefits are
• Decision making and dealing with a benefit strategy
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

Links

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

If your business employs staff then COVID-19 has added more pressure, the Job Support Scheme and Planning is vital. You want to look after your employees and their welfare, but also the payment of those employees and the cash flow situation, that that creates when income has been impacted negativity.

This week’s episode of I Hate Numbers looks at the new Job Support Scheme, Furlough scheme mark 2.

There are six things I'm going to cover in this podcast.

• Overview of the new job support scheme
• Conditions to make a claim
• Job retention bonus
• Rules
• Numbers
• Cash flow and decision making

Listen to learn more

The job support scheme starts on the first of November, and it's initially set to run up until the end of April 2021. It will be divided into two phases, the first three months, and then three months into the scheme the government then will overview how its progressing, any changes to the scheme it will announce in due course.

There are two schemes, in common with the current furlough scheme is to provide payments to employers who retain employees do not make them redundant.

Under scheme one, your employee must do a minimum level of work. If, however, your business has been forced to shut down because of local lockdown restrictions imposed, then the requirement of your employee to work a minimum level of time is waived.

Listen to learn more

If you have to contribute towards your employees pay then you pay before you claim. That’s important to remember when it comes to cash flow planning.

There’s some cash flow pain. You've loss of income, money being paid, hours may not be there to justify bringing them in.

Listen to learn more

The Job Retention Bonus may soften the blow. There is a £1,000 one-off taxable payment to you (the employer), for each eligible employee that you furloughed and kept continuously employed until 31 January 2021.

You’ll be able to claim the bonus between 15 February 2021 and 31 March 2021. You do not have to pay this money to your employee.

There will be rules and regulations, critical that you maintain adequate records to backup and verify your claim. Employment law is not ignored. Your staff have to agree to a reduction in their wages and hours.

HMRC will be focusing efforts on those that have taken advantage of the scheme or claimed incorrectly. Expect assertive action over the next few months.

There is a very choppy business landscape ahead, if you do have a staff team and you wish to retain that talent, then there's tough decision making that lies ahead. When faced with any tough decisions, you must always, always do a cash flow plan, a cash flow story.

It may be that your business can weather the storm and knowing what the cost will be to you as a business for retaining the staff, under the job support scheme is a vital input into that cash flow story.

Do not panic, your cashflow story may reveal that you can weather and survive the storm that lies ahead. Stay sanguine, positive and centred.

Listen to find out more

In conclusion, Job Support Scheme and Planning go hand in hand. Don't forget the Job Retention Bonus. Include this into your future cash flow forecasts. Consider the steps you need to take to keep your business dial moving forwards.

Detailed illustrations, in the show notes link.

Your business needs to grow, serve and make money. Cash flow planning plays a vital part in you taking decisions, and what is right for your business. Contact us to find out more.

Make yourself comfortable. Sit back and listen.

Even better subscribe so you do not miss an episode.

• Understanding the Job Support Scheme
• Appreciate what the conditions are and consider required evidence
• Decision making and dealing with financial challenges
• Developing your future cash flow story
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Welcome to episode 33 of I hate numbers. Today's episode why you need your business plan.

In fact, every business needs a business plan. In this episode I'm going to talk about why your business needs a business plan and what should actually go into it your business plan.

This episode of, I hate numbers is part of my continuing mission to strengthen your money mindset, make you less scared of your numbers. So ultimately you can make more money or profit in your business, have more time, sustain your businesses and thrive.

You may be thinking that it's a complete waste of time. There is certainty in your mind that you know what you’re. You don't want to be spending time and energy writing things into a document that's going to be out of date at the moment it’s written.

Put those thoughts to one side. Your business plan is written predominantly for you. No plan equals no success.

Listen to find out more

Firstly. In the beginning figure out what your version of success looks like, your Business goals. Business goals have substance, and must be at least measurable, realistic, and achievable.

Listen to find out more

These are the steps, the journey, the actions, and the tactics that you need to do to get to your business goals. Like your business goals, they must have substance, and must be at least measurable, realistic, and achievable.

Listen to find out more

Your route to success needs you to understand where you are now. Understand where your business is currently. And understanding who your customers are, what the customer journey actually involves, which customers are the most profitable to you.

Listen to find out more

Manage what you measure. The progress of your journey requires you to set milestones and measures. Then you can monitor your progress and make judgements

Listen to find out more

Lastly, the numbers. Translate your plan onto financial forecasts. Look at your plan through the prism of cash flow and profit. Cash flow makes it happen; profit is the prize. Check out episode 30 of I hate numbers podcast episode "Cashflow is a big deal".

Listen to find out more

In conclusion,Why you need your business plan is clearer. in your plan, include your business destination, and the steps you must take to achieve your business goals.

How are you going to get that, that detailed plan, your milestones and your measures, and lastly, the numbers. What does that actually look like in terms of profitability? What does that actually look like in terms of cash flow.

Your business needs to grow, serve and make money. Your business plan mindset plays a vital part in you taking your business seriously and for growth.  Contact us to find out more.

Make yourself comfortable. Sit back and listen.

Even better subscribe so you do not miss an episode.

In This Episode

• Understanding why your business needs a plan
• What five elements your plan should include
• The importance of milestones and measures
• Developing your financial forecasts in profit and cash terms
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

Links

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Your attitude in your business, your attitude to your business is everything.

Attitude is the theme of this week's I Hate Numbers podcast. In this week's podcast I look at what attitude is, and why it's such a big deal in your business.

Firstly, what’s a business? Business is where you have an activity where making money, making profit is part of the deal.

An official definition of a business is the activity of making one’s living or making money by producing or buying and selling products.

A hobby , on the other hand is a regular activity done for enjoyment, typically during one’s leisure time, not professionally and not for pay.

Making money, profit and cash in the bank has to feature and your numbers, your best friend in business, that won’t lie to you plays a massive part.Listen to find out more

When we hear the word attitude, images of anger, happiness sadness appear. Whether we take things seriously of whether we take them lightly.

Your attitude, mindset if you prefer is about your thoughts about the world. It’s about your behaviour, your assumptions. You attitude is about how you apply those in your business is actually key to how your business grows, develops, sustains, and prospers.

Your approach to your business , whether you take it seriously or not is important. It will determine whether your business survives, will shape how you deal with those circumstances that you may feel are outside of your control. It shapes how you deal with people that may not be the most comfortable to deal with.

You can't control what happens in the future, but you can control and influence how you react to them.

Furthermore. one size does not fit all. By the same token one approach doesn’t suit all situations

Listen to find out more

This is not an option. Your definition of growth may vary, but absolutely you've got to see growth as a continuum. If you do not grow your business, then you will end up going backwards in your business.

Customers will leave you. Nobody keeps customers for life. Costs will change competition, intensifies regulations and legislation changes all the time. So change is a constant part of our business lives. So looking to grow your business to develop your business is an absolute necessity, not, it would be nice to have.

In conclusion, your business is there to serve your customers well, for you to enjoy what you're doing, to give you the time to spend with your family, provide yourself with a decent living. But fundamentally is that also to make money. Your mindset and attitude absolutely vital for you taking your business seriously and for growth.  Contact us to find out more.

Make yourself comfortable. Sit back and listen.

Even better subscribe so you do not miss an episode.

• Understanding what the difference the difference between your business and a hobby
• The part that your attitude plays in your business success
• Why your business needs to grow
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

Links

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Collecting money from your customers is a big deal? Getting paid on time is a big deal.  Because cash guarantees your survival week after week. No cash, no business. The lights will not be on, the door will not be open.

This week’s episode of I Hate Numbers is all about getting paid on time. I look at

• Why getting paid on time is a big deal
• Three things you do to help getting paid on time
• Practical tips to share

Cash ultimately comes from your customers. They give you money for your products and services.

Your business has financial commitments. Make sure your staff, suppliers, lenders, and YOU get paid. But, get paid with cash , not buttons and promises. To clarify, if you don’t have access to cash, then your business won’t have a long shelf life and you’re screwed!

In other words, your cash should come from your customers.

In addition there are 3 essentials things you need to help get paid on time, summarised as CULTURE TECHNOLOGY and ACTION, CTA for short.

Firstly, culture equals mindset & attitude. Know how to deal with money. In other words, your mindset dial should be set to having grown up business conversations. Grown up doesn't mean being nasty, it means being comfortable talking about money.

Giving credit is always a risk. The risk is you don't get paid ! You must have the right attitude to manage that risk. But your business is just that, a business. It’s not a hobby, it’s there to make you money (profit) so you can continue to do what you do, make a difference, serve your customers and give yourself a decent personal and family life.

Most importantly, listen to find out more.

Certainly, technology is a good friend to you in terms of processes and systems. For example, technology helps you issue customer quotes, invoices. Above all technology monitors what you are owed, reminds you when payments are late, and helps collect your cash.

In addition, technology is pretty cool for issuing agreements, terms, and conditions. To sum up, technology helps with the whole customer journey from stranger to getting paid.

Most importantly, listen to find out more.

Thirdly, systems and processes are pointless unless you follow them and take action. For example, what do you do if the client doesn't pay you on time?

Action always wins over inertia. On the other hand, hiding under your duvet or putting your hands to your ears and going la la la is a playground activity. Definitely not suitable for your business.

Most importantly, listen to find out more.

In conclusion, Collecting money from your customers has to be done, and on time. Certainly if you want your business to still be around, get to grips with getting paid on time. Take control and improve your customer collection process. Contact us to find out more.

Make yourself comfortable. Sit back and listen.

Even better subscribe so you do not miss an episode.

• Understanding why getting paid on time is vital for your business
• The part that culture plays in getting paid on time
• Why technology can be a good friend to you in getting customers to pay you
• Action speaks louder than words and inertia
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Cash Flow is a big deal. Everybody wants their business to survive. Everybody wants their business to grow prosperously. 

Cash Flow is vital for your business. Without it, your business is on a one way trip to disaster. In this weeks podcast episode of 'I Hate Numbers' I want to stress the importance of cash flow, discuss what it is and how you successfully manage it in your business. 

The costs of your business need to be met and you need cash for that. Staff must be paid; overheads covered, loans paid, and your need to pay yourself. Those bills and commitments need to be settled in cash, not promises. 

Cash is necessary in any business of any size. If you fail to get adequate cash flow then your business will inevitably fail. A lot of businesses can survive periods of low profit, even losses!. To do that you need access to cash. Strangely enough, profits and cash aren't the same thing, profitable businesses can fail, loss-making businesses can survive. Strange but true  

Cash Flow is the most important aspect of your business. And if you don’t have the right Cash Flow and know how to manage it then your business is done for. Finished. Forecast for the year and amend as you proceed and if you can’t do that then do what you can. 

Cash Flow is a big deal, and we need to own it, and manage it. You need to create a cash forecast for your business. Look ahead, and think about what your business activity, your business story looks like. Once you’ve got an idea of that then forecast the months ahead based on that future as best you can. 

Three things for your consideration. Firstly, produce a cash forecast then a cash budget, a cash report for your business is finding out the details. Forecasts and projections will detail your story and should be done typically for 3-6 months but preferably 12. 

Your cash future is based on asking three key questions

• What is the future activity that impacts on money in or money out  
• When does that cash event occur, in which month or week  
• How often does that cash event occur

Don't even bother with numbers at this stage. When you figure what your future may look like then translate that activity into a financial number. Once you have a cash story then the power and magic happens. 

In a forever changing world when anything can happen at any given moment you should always plan for contingencies. You never know what's next and one day your business will thank you for it.

• Understanding why Cash Flow is a big deal
• Creating your future Cash Story
• How to put together and manage your future Cash Story
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

Cash Flow is a big deal. Take control and produce and manage your future Cash Flow story. Contact us to find out more.

Grab a coffee. Make yourself comfortable. Sit back and listen.

I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and do not miss an episode.

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Social Enterprises are pretty important businesses. There are over 100,000 social enterprises contributing £60 billion to the economy and employing two million people.

In this weeks episode of ‘I Hate Numbers’ we look deeper into the what, how and form of a social enterprise.

Firstly, let's look at a working definition of a social enterprise.

1. A clear social and or environmental mission.
2. It has a way to generate most of their income through trade.
3. An ethos of reinvesting most of that profit back into business.

Don’t confuse a social enterprise with a charity as a charity is not necessarily a social enterprise and a social enterprise is not a charity.

The primary purpose of a social enterprise is making profits as part of its social mission and purpose. Those profits can be made by selling products or services.

Since social enterprises are fundamentally businesses. It is critical and important that business disciplines are applied to how those social enterprises are run. How they grow. How they sustain themselves.

We've talked about legal structures before so it's worth checking out our previous podcasts. If you're contemplating setting up a social enterprise, then the key question at the very start is the different form or the legal structure that you should adopt.

There are choices, the most popular being

• Community Interest Company (CIC)
• Sole trader
• Co-operative
• Company limited by guarantee

First introduced in 2005 due to a growing interest to offer support to social enterprises. It is owned by the local community and operated to benefit those people who reside in that community.

Within the CIC world, there are two forms.

• Private company, limited by shares
• Limited by guarantee with members

There's three key questions to answer. These look at your motivation and purpose for behind why you want that CIC.

• What your CIC will be doing
• Dealing with surpluses
• Who will your CIC to help and how?

A social enterprise isn't always a charity, and vice versa. The main differences are to do with

• Corporation tax
• Rate relief
• Donations
• Purposes

Listen in to find out more

Social Enterprises are businesses. They play an important part in the business and community landscape. Contact us to find out more.

Grab a coffee. Make yourself comfortable. Sit back and listen.

I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and do not miss an episode.

• Understanding what a social enterprise is
• Choosing your legal structure for your social enterprise
• Why a social enterprise is not necessarily a charity
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

Links

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

How to choose your accountant is this week’s episode of I Hate Numbers.  Not all accountants are created equally. Just like in any walk of life, any profession, some are more effective than others. In this podcast I'm going to share some tips with you as to how you go about making what will be a very important selection for your business, and it's going to be important because the right accountant can have a big impact on your ability to grow and move your business dial forwards.

Firstly, do your homework before you start speaking to an accountant. Check out last week's episode where the topic was what do accountants do? Choosing your accountant is the same as finding good effective supplier for your business. It needs to be for purpose.

What are your current and future business needs? Are you looking for someone to do the traditional compliance work, prepare your accounts and tax return once a year? Do you want more of an ongoing relationship? What is it you feel that you need for your business, now in all of these questions, you may not necessarily know what the answer is, but have some form of idea of what you think you need here and now, and what you believe that you will need for your business going forward.

Do you feel that you need a local service provider, somebody who's located where you live, or does that not matter? On a personal note my clients are based locally, nationally and Internationally. Technology helps makes the world a smaller place.  Regular communication and the ability to access client support may be more important to you.

Not all accountants are the same. Lots of people describe themselves as accountants but have zero level of experience. Lots of people have experience but no qualifications. Qualified doesn't mean competent and competent doesn't necessarily mean qualified.

The ideal combination is got professional exams under their belt and real-world experience to back it up.

Seek recommendations from those in your network. Check out reviews on people's websites, which ones catch your eye and what are they saying? How old are they? How recent are they? Which ones look appealing?

Once you've got a short list of say five or six to begin with, then carry on with your research. Look at the firms in your short list, check out their websites, check out their social media presences. Look at the company, the staff, the range of services they offer. Make a short list of no more than two to three accountants that you can have a conversation with. The conversation should be a dialogue, not a monologue.

Have some form of agenda that you want to cover in your meeting. As with any future supply arrangement, then don’t be wary or afraid, or nervous in asking questions. They can be technical, ask about working styles, skills, experiences, meeting times and costs!!

Do you like accountants who are more formal, who are very jargon laden? This could be your bag, or it may not be for you. The interaction with that individual and their team. Who did you get to speak to? Do you feel relaxed when you speak to them? Are you someone who likes robust, straightforward advice, or, perhaps a bit softer?

How to choose your accountant is one of the more important business decisions you will make. Prepare, shortlist, have a conversation and then decide helps you make that decision easier. Contact us to find out more

Grab a coffee, make yourself comfortable, sit back and listen.

I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and do not miss an episode.

• Understanding the approach to choosing an accountant
• How to make a short list of accountants to talk to
• Speaking to prospective accountants
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

In this weeks episode of “I hate numbers” my topic is ‘What do accountants do’?

Five headline things that accountants do, spoiler alert, money features amongst that.

Making money is a big business goal, if you want to move from hobby business to something more. When we talk money, we mean cash in the bank and making profit.

You need a strong and vibrant number story if you want your business to prosper and to continue.

A good accountant saves you money.  You see where the money goes, choose the right business structure and deal with VAT.

Thirdly, accountants help you grow your business. If you don't grow then your business is going backwards.

A good accountant helps you make good business decisions. You will make objective choices that are good for your business.

You can’t escape death or taxes. A good accountant helps you reduce your tax bill, and can navigate the tax rules and regulations.

Your accountant can help you achieve a good work life balance. And if you're not spending time doing whatever you don't like or are particularly good at, and all of us have got those things that we're not good at, you can balance your time better.

Grab a coffee, make yourself comfortable, sit back and listen.

I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and do not miss an episode.

• Understanding what accountants do
• Knowing the impact an accountant can make on your business
• Finding out accountants help you make money, grow and deal with taxes
• Accountants helping you get that work life sorted
• Developing your own Numbers confidence and decisions
• Take more control of your numbers to help make you money, survive and thrive

https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288

https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers

https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins

https://www.stitcher.com/podcast/proactiveresolutionss-podcast

https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Get in touch with us to find out more about some money making tips. For more business and finance , news, advice and tips, don’t forget to watch our weekly broadcasts, subscribe to the weekly podcast I Hate Numbers.

Pro Active Resolutions

The Numbers Crew – Here to help you!