In this episode of The Wise Why, Kirsty van den Bulk interviews Jonathan Reeves, founder of Tax Matters.

The conversation delves into the multifaceted tax world, offering valuable advice to entrepreneurs on navigating personal and business taxation, VAT registration, bookkeeping software, and more. Additionally, we learn about Jonathan's passion for music, which harmonises his life outside the numbers.

Key points discussed in the episode include:

*Introduction to Jonathan Reeves: Founder of Tax Matters who brings a unique blend of tax expertise and a deep love for music.

*Tax Advice for New Business Owners: Strategies for managing finances when starting out, including keeping an eye on VAT thresholds and considering limited company formation.

*Navigating HMRC Challenges: Insights into dealing with HMRC difficulties, including long call wait times and potential penalties for non-compliance.

*Personal Tax Issues Explored: Understanding how various life events can impact your taxes, from PAYE complications to inheritance tax planning.

*The Impactful Story about Ignoring Taxes: A cautionary tale highlighting the severe financial consequences of disregarding important documents like chargeable event certificates.

*Networking as a Key to Success in Business: Building relationships through networking can lead to lasting partnerships and support throughout one’s career journey.

*Music as Inspiration & Passion Project: Discuss how music influences our lives personally and professionally, including anecdotes from Jonathan's experiences following Paul Weller's concerts across the country.

*Choosing an Accountant Through Trustworthy Networking: It is essential to choose someone you trust based on their ability to crunch numbers and provide personalised guidance tailored to your needs.

Final Thoughts & Takeaways: Listeners are encouraged not to brush off their tax responsibilities but to seek professional help while effectively balancing work-life passions. Whether you're grappling with business taxes or looking for ways to manage personal finance obligations effectively, this episode provides clarity amidst complexity. It reminds us that even experts like Jonathan have diverse interests, such as his love affair with vinyl records, which keep them grounded beyond spreadsheets!