Afleveringen
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In this episode, we explore the pros and cons of putting a company car through your business. We focus on two main types of vehicles: commercial vehicles and electric vehicles (EVs).
Key Points:
â˘Commercial Vehicles:
â˘Offer significant tax benefits, including full tax deductions and VAT recovery (if VAT-registered).
â˘Typically exempt from Benefit-in-Kind (BIK) tax if used exclusively for business.
â˘Electric Vehicles:
â˘Benefit from lower BIK tax rates due to their low emissions.
â˘Eligible for government grants and 100% first-year capital allowances.
â˘Lower running and maintenance costs compared to traditional fuel vehicles.
â˘Enhance your businessâs green credentials.
Considerations:
â˘Personal use of company cars can lead to additional taxes (BIK).
â˘Weigh the cost vs. benefit of owning the car through your business versus personal purchase.
â˘Choose the right vehicle based on your business needs.
This episode helps business owners make informed decisions about whether putting a vehicle through the company is the right move, especially with the rise of commercial and electric vehicles.
Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
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In this episode, we delve into the crucial topic of choosing the optimal business structure for tax efficiency. Weâll compare and contrast four main types of business structures: sole trader, partnership, Limited Liability Partnership (LLP), and limited company. Hereâs what youâll learn:
1.Sole Trader:
â˘Pros: Simplicity and full control.
â˘Cons: Unlimited liability and higher personal income tax rates.
2.Partnership:
â˘Pros: Shared responsibility and relatively easy setup.
â˘Cons: Unlimited liability for partners and personal income tax on profits.
3.Limited Liability Partnership (LLP):
â˘Pros: Limited liability and tax flexibility.
â˘Cons: More complex to set up and partners still pay personal income tax on profits.
4.Limited Company:
â˘Pros: Limited liability, lower corporation tax rates, and tax-efficient profit extraction through dividends.
â˘Cons: More regulatory requirements and administrative costs.
Weâll guide you through the pros and cons of each structure, focusing on their tax implications and helping you make an informed decision based on your businessâs profit levels, liability concerns, and administrative capacity. Tune in to learn which business structure could save you money and protect your assets while aligning with your long-term business goals.
Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
Until Next Time...Support the show
We hope you enjoyed this episode
You can find out more about us using the links below
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Zijn er afleveringen die ontbreken?
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Join Ian Morgan as he explores the most efficient ways for UK directors and shareholders to pay themselves in 2024/25. This episode covers the basics of dividends, outlines three key strategies for tax-efficient income, and offers crucial advice on managing higher earnings and additional income sources. Whether youâre optimizing salary and dividends or navigating tax complexities, this episode provides actionable insights to help you maximize income while minimizing tax liabilities. Tune in for practical guidance tailored to your financial success.
For more details, visit our website or the MBS Accountants Blog.
Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
Until Next Time...Support the show
We hope you enjoyed this episode
You can find out more about us using the links below
Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
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MBS Accountants Website -
In this episode of our Facebook Live series, Ian Morgan dives into the essentials of "Effective Expense Tracking" for business owners. Learn why keeping detailed and accurate records is crucial, discover the best tools and apps for tracking expenses, and understand how to categorize your expenses correctly for HMRC compliance. Whether you're a seasoned entrepreneur or just starting out, this session provides practical tips to help you maintain your business's financial health and stay compliant with tax regulations. Tune in for actionable insights and keep your business thriving!
Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
Until Next Time...Support the show
We hope you enjoyed this episode
You can find out more about us using the links below
Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
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MBS Accountants Website -
In this bonus episode, we reflect on
RANK 16: A Journey to Outstanding with Sonia Gill of Heads Up
Delving into powerful lessons on navigating difficult conversations and adapting business strategies in times of crisis. Join us as we unpack insights into leadership, adaptability, and achieving goals amid challenges.
Addressing Uncomfortable TruthsAvoiding Common PitfallsEmpowering Through Solutions
**1. Mastering Difficult Conversations
Pandemic-Induced ChallengeInnovation Amid ChaosStrategic Decision-Making
**2. Adapting Business Strategies in Crisis
Leadership Under PressureContinuous ImprovementAchieving Goals Amid Turmoil
**3. Leadership and AdaptabilitReady to glean insights on navigating difficult conversations, adapting to unforeseen challenges, and honing leadership skills in times of crisis?
Tune in, share your thoughts using #mbsaccountants and #theleakybucketpodcast, and let's build better businesses together!Support the show
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We are back tracking our Interview Episodes and share some insights from there. This one is from:
RANK 12: How to Prepare a Business for Exit with Darryl Bates - Brownsword of Succession Plus
Ready to dive in? Key topics discussed are:1. Structuring Your Business for Success
đď¸ Unlocking Successđ Reduced Owner Relianceđ Multiplying Exit Potential2. Strategic Planning for Business and Exit
đ Plan Like a Prođ§ Overcome Obstaclesđ Outcome-Focused Planning3. Thinking Time and Implementation Challenges
â° Time for Thoughtđ Implementing Strategiesđ Breakthrough MomentsReady to revolutionise your business structure, strategic planning, and exit strategies?
Support the show
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We are back tracking our Interview Episodes and share some insights from there. This one is from:
TOP 5: Designing a Plan for Success with Jess Williams of Designs in the Shires
Join us as we navigate the challenges highlighted and discuss pivotal solutions for overwhelmed business owners.
The Overwhelm DilemmaPricing PitfallsNavigating Success
1. Balancing Time and Money in Business Growth
Root Cause AnalysisShift in Pricing ParadigmEffective Communication
2. Addressing the Root Cause: Pricing Strategy
Beyond Fear-Based PricingPersonal ExperienceTaking Control
3. Creating a Sustainable Business ModelTune in for a thought-provoking discussion on balancing success, pricing pitfalls, and creating sustainable business models.
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Hey there, business enthusiasts! đď¸
TOP 1: Are you Fearless in Business? with Robin Waite The Fearless Business Coach
We are back tracking our Interview Episodes and share some insights from there. This one is from
In this bonus episode, we dive into three crucial topics that can transform the way you approach your business.
Let's break it down!1. Fearlessness in Business
2. Financial Control, Clarity, and Freedom
3. Delivering Valuable Outcomes
Join us in this insightful episode where we explore fearlessness, financial empowerment, and delivering outcomes that truly matter for your business. đ
Don't forget to share your fearless moments using #mbsaccountants and #theleakybucketpodcast! đ§Support the show
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Robin Waite is a highly sought-after speaker and coach, with a reputation for delivering engaging and inspiring presentations that leave a lasting impact on his audiences.
His talks are filled with practical advice and real-life examples, and he is known for his ability to connect with people from all walks of life.
His engaging and interactive presentations have inspired and motivated audiences worldwide, and his practical and actionable advice has helped countless individuals and businesses SUCCEED.
TODAY WE DISCUSS HIS STRUGGLES AS A STARTING BUSINESS OWNER TO COACHING OTHERS TO BE FEARLESS IN THEIR BUSINESS!
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If you like to learn more on what ROBIN do, head on to his socials:
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Welcome to Episode 1 of The Leaky Bucket Podcast.
In this introductory episode, I gave a fascinating glimpse into why I am so passionate about helping secretly struggling entrepreneurs.
I'll explain the title of the podcast; why I understand what it is like to have holes in the finances of my own business; and what to expect in future episodes of The Leaky Bucket podcast.
Support the show
We hope you enjoyed this episode
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James Ashford works exclusively with leading firms of accountants from around the world, helping them to become more profitable and to systemise their firms so they can deliver maximum value and incredible experiences to their clients.
James is the founder of http://GoProposal.com, bestselling author of âSelling to Serveâ and Director at My Accountancy Place. He is a sales and marketing expert, helping firms to scale their practice by giving more value to existing clients and converting new prospects at a higher rate for higher fees.
He does this through challenging outdated pricing methods and mindsets, implementing powerful pricing and proposal systems and leveraging entire firms to sell more through consultative sales techniques.
HE TALKED ABOUT HOW HE ACHIEVED HIS SO-CALLED "OVERNIGHT SUCCESS" THAT TOOK YEARS TO CREATE.
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If you like to learn more on what JAMES ASHFORD do, head on to his socials:
Youtube Channel
LinkedInHello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
Until Next Time...Support the show
We hope you enjoyed this episode
You can find out more about us using the links below
Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
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MBS Accountants Website -
Welcome to Episode 2 of The Leaky Bucket Podcast.
In this episode, I talked about how secretly struggling
entrepreneurs can develop their mindset to help change things for the better.I'll explain how changing one's mindset can form the foundation of success; why the five people you surround yourself with can help cultivate a spirit of positive growth; and why sometimes it is best to switch off from consistently negative news.
Support the show
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Welcome to Episode 7 of The Leaky Bucket Podcast.
In this episode, I am with a special guest Jess Williams about how she managed to implement a positive transformation within her secretly struggling business, Design in the Shires .We hear Jess explain how herself and her partner, Ben, were thrown in at the deep end without a true understanding of vital business processes; what led them to seek a way to change their company; and how they've managed to go from working in the business to working on it.
Enjoy Listening and may your Business KEEP THRIVING!
-Ian Morgan
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To get in touch with Design in the Shires, find them here:
LinkedIn
Website
Instagram
Facebook
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Want to know your Business Financial Health? Check this Score Card out!
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Welcome to Episode 10 of the Leaky Bucket podcast.
In this episode, I continue to explain how to carry out effective strategic and financial planning.
I went through the eight steps of creating the company budget and financial plan; go into depth about why it's so important to cultivate your mindset for long-lasting success; and discuss how your personal circumstances and goals can affect the financials of the business.
Enjoy Listening and may your Business KEEP THRIVING!
-Ian Morgan
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To get in touch, please find us online here:Want to know your Business Financial Health? Check this Score Card out!
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Welcome to Episode 5 of The Leaky Bucket Podcast.
Here I discussed about how secretly struggling
entrepreneurs can plug the leaks in their businesses.I touched the definition of plugging the leaks, and how it can be a vital step to help the financial health of the business. I'll take you through the step-by-step process that can save both time and money; and why it could make the difference by adding 10% to your bottom line.
Support the show
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Welcome to Episode 3 of The Leaky Bucket Podcast.
I talk about how secretly struggling entrepreneurs need to view sales and value propositions.
I explained how to transition from the initial start-up phase of sales into a more targeted and effective one for a growing company; I gave a helpful example from a real-life company of how this was put into practice; and how this can be beneficial in your journey to financial freedom.
Support the show
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Welcome to Episode 6 of The Leaky Bucket Podcast.
In this episode, I will take us behind the scenes in our own business to share a recent situation that could have caused a huge issue - but didn't.
You'll hear me explain the story behind an employee deciding to leave, throwing a spanner in the works; how we managed to prevent an emotional reaction - all while still being able to healthily vent our frustrations; and how we turned a potential catastrophe into a wonderful opportunity.
Enjoy Listening and may your Business KEEP THRIVING!
-Ian Morgan
--------------------------------------To get in touch, please find us online here:
Want to know your Business Financial Health? Check this Score Card out!
Ian Morgan LinkedIn Account
MBS Accountants Website
MBS Accountants Youtube Channel to watch the Video of the EpisodeSupport the show
We hope you enjoyed this episode
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Welcome to Episode 9 of the Leaky Bucket podcast.
In this episode, I talked about the importance of strategic planning for secretly struggling entrepreneurs.
I explained why having a clean, clear cut plan for your business is vital - and how it should fit on one or two sides of A4 paper; determining your personal goal and how to work towards it; and challenging your beliefs with a SWOT test for every crucial area.
Enjoy Listening and may your Business KEEP THRIVING!
-Ian Morgan
--------------------------------------
To get in touch, please find us online here:Want to know your Business Financial Health? Check this Score Card out!
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Hi there, and welcome to another exciting episode of the Leaky Bucket Podcast!
Today, we have a very special guest with us, Laura Evans from SISU Pancakes, based in Cheltenham.
Now, let me tell you, trying to describe SISU Pancakes is like trying to explain a deliciously unique blend of a pancake and a cake - it's simply something you have to experience for yourself!
In this episode, Laura shares her incredible #journey and the #challenges she faced in her childhood that ultimately shaped her into the strong, determined individual she is today. We'll also delve into her career outside of business and how it influenced the qualities she brings into her #entrepreneurial endeavors.
One of the most inspiring aspects of Laura's story is how she persevered through failure after failure until one mistake turned into a catalyst for #success. We'll explore the mindset and values that drove her to keep pushing forward, even when the going got tough.
Laura's outlook on life is truly remarkable. She believes that success is not a destination, but a continuous journey, and she's purposeful in the way she lives her life. She's a true example of someone who has found #happiness and #fulfillment by making conscious decisions and prioritising what truly matters to her.
So, if you're ready for an #uplifting and #motivating conversation with an incredible entrepreneur, then don't wait any longer!
You won't want to miss it!
#theleakybucket #podcast #financialpodcast #businessguidepodcast #sisupancakes #chentelham #business
If you like to learn more on what Adrian and Ben do, head on to their business' socials:
Website
LinkedIn
Instagram
FacebookHello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.
So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insightsThanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.
Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks
Until Next Time...Support the show
We hope you enjoyed this episode
You can find out more about us using the links below
Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
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Darryl is a dynamic, driven Business Consultant and Coach with over 20 years of experience and passion for creating successful outcomes for founder-led businesses.
He is a great connector, team builder, problem solver, and inspirer â showing the way through complexity to simplicity.
Darryl together with his team raise awareness of the fact that as a business owner, if you want to get the most from your lifeâs work and exit on your terms, then you need to prepare for exit and make your business attractive for a buyer.
The problem that occurs when this doesnât happen is that;
¡ Only 10-40 % of businesses that go to market actually get sold!
¡ And, of those that do get sold, the deal is structured in a way that means the owners have to work through an âearn outâ period to realise full valuation.
¡ And more that 50% of these earnouts donât get completed either because the goal posts are moved, or the owners have run out of energy.
This can be avoided if your business is exit ready, de-risking the deal for both the owners and the buyers.
In this Episode Darryl generously gives his expertise in Preparing a Business for an Exit.
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If you like to learn more on what DARRYL do, head on to his socials:
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MBS Accountants Website - Laat meer zien
