I Hate Numbers: Simplifying Tax and Accounting

Understanding tax evasion and avoidance, is an essential piece of knowledge! Even if just to avoid prison food..  Do you Understand tax evasion and tax avoidance.  Moreover, do you know the difference between tax evasion and avoidance?Firstly In this podcast, I outline the difference between tax evasion and avoidanceSecondly, I'll also discuss which one is naughty, and should be definitely avoided.Thirdly, which one should be encouragedFinally we will look at some examples of each in action.So let's get started!What is tax evasion ?Tax evasion occurs when a taxpayer deliberately fails to declare income or gains on their return.  Moreover it could  be where false information is submitted in order to reduce their liability for taxation.What is tax avoidance?Tax avoidance is legal.  It means individuals or businesses pay less taxes than they would have paid if they had not taken those steps.The lines between tax avoidance (perfectly legal) and tax evasion (not legal) seem to have become blurred.In the words of Denis Healey, "The difference between tax avoidance and tax evasion is the thickness of a prison wall"There are many ways of avoiding taxes.  However most methods fall into two main categoriesFirstly,  legal methods such as deductions and exemptions from taxable incomeSecondly, illegal methods such as hiding money offshore so no one knows how much you actually earn through your business activities.ConclusionFor many years tax evasion and tax avoidance has been the subject of considerable public concern.  Furthermore, there is no statutory definition of what tax avoidance consists of.If you find yourself at the wrong end, there is always a solution.For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.My podcast will helpListen to find out more.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcastsfeed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3 Pro Active ResolutionsThe Numbers Crew- Here to help you!

Using a Limited Liability Partnership is this weeks podcast theme.Are you looking to set up a Limited Liability Partnership?A limited liability partnership (LLP) has many of the features of a normal partnership and a company. In this podcast I will explainhow set up an LLP,what an LLP iswhat the advantages and drawbacks areAn LLP has the organizational flexibility of a partnership is taxed as a partnership, but in all other respects, it's very similar to private company.If you're considering setting up your own business or expanding your existing one then listen to this podcast first! It could save you time and money by knowing exactly what's involved in setting up an LLP before committing yourself.You'll learn everything from why people choose LLPs over companies. This information may be invaluable.  The best part is that it won't cost you anything at all!So, sit back relax and listen while I talk to you about LLPs and remember - knowledge really is power when it comes down to making decisions like these!Listen to find out more.ConclusionKnowing how you want to set up your business and LLP is a need to know.  Understanding Limited Liability Partnerships are an increasingly popular business model.For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.My podcast will helpListen to find out more.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcastsfeed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3Pro Active ResolutionsThe Numbers Crew- Here to help you! 

Making your business partnership work can be one of the greatest pleasures of having your own business. With that in mind, if you’re planning to start a business venture with a friend, family member or associate as your business partner read on.Don’t assume that everything will be hunky-dory from day one. After all, business partnerships go through rough patches too, just like marriages. So make sure you take certain steps to ensure yours doesn’t end in heartache and regrets.How to make business partnership's workTake the following steps and your business partnership should work from day one:Share similar valuesCheck beforehand that you and your business partner share the same vision, dream, goals, etc. A potential conflict where your partner does not share the same goals, core values and work ethic, for example, can spell disaster.A pre-existing success track record always helpsPlay it safeChoose a partner with whom you’ve had a past success track record and a generally positive business experience. Now, this doesn’t mean that choosing the right partner means having worked before is compulsory or you have to have a share with them in running a business in the past.It simply means that both of you have a track record of going through similar business experiences successfully. This will help relate to each other’s strengths, weaknesses or, say, limits. Plus, it’s best to look for a partner who can handle conflicts like you can, who has achieved similar goals and survived through rough patches, just like you.Explain and define each partner’s role within the partnershipThis helps to eliminate any potential disagreements, resentments, reservations or conflicts down the line. In fact, by clearing defining each partner’s responsibilities, scope, duties, etc. customers and employees can also benefit. Remember knowing who is responsible for overseeing which aspect of the business is very important.Choose the appropriate business structureA business partnership may be forged as a limited liability, limited or general one. However you may also organise it as a C corporation or S corporation partnership. Each one brings a distinct set of advantages and disadvantages, so talk to your business or financial advisor to determine the right one.Go with a partner who has a complementary skill setHaving a partner with complementary skills to yours means you can effectively double your strength as a team. For instance, if you’re a generally shy and somewhat introverted tech person looking to start an online business, it would be preferential to choose a partner who has good people, marketing and sales skills.Be honest with each otherDon't sweep matters under the rug!  you’re both going to hurt the partnership more than anything else. Talk things out openly but respectfully, sharing your opinions openly and honestly, and ironing out disagreements when they occur.Put everything in writingEven if your partner happens to be your closest mate from high school, you need to draft the appropriate legal documents and put everything in writing. This is a no brainer!These legal documents should have everything from the business structure and capital contribution to the business. Also, how decisions will be taken and how disputes will be resolved. Or, for example, what happens if one of the partner suddenly decides to ditch the business and move on. Consult a legal or financial advisor and put everything in there that could possibly go wrong. This way you’ll know exactly how to deal with it, if it ever comes to that.ConclusionSome of the above points can certainly be tough to discuss with your partner, especially when you just can’t wait to get the business going. However, you need to lay the foundation for a strong, fruitful and lasting business relationship.If you don't you may have to later deal with the heartache of a failed business partnership.For more business and finance, news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.My podcast will helpListen to find out more.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Ec

Successful employee handbook is what helps reduce your business heartache. Problems within a business can occur because there is a lack of clarity on some subjects. Mainly, the issues which arise are around the expectations of the business. The employees and the owner may not have the same set of ethics either, or there could just be a communication barrier. If you are having any heartache due to employee relations and do not have an employee handbook for your business, it's a good idea to get one put into place and quickly.What is an employee handbook?They are a guide to your business. It is a way in which you can clearly establish the overall business mission and goals. Within your business’s employee handbook, you will define what makes your business great and then relate the various areas of your businesses operations to the employee to ensure that everything runs smoothly. Handbooks should lie out the procedures of your day-to-day and long-term procedures needed. You should also have a statement of ethics so that there are no issues between employee to employee or employee to management personnel.Apart from establishing the guide to your business, the handbook acts as a structure to the overall success of your business. In turn this can help alleviate stress and heartache in your business. First, your policies and values are given to the potential employee. They give a clear and direct approach to behaviour which will and not be accepted . Second, the business’s handbook also tells the employee of the culture of your business. By this, it means the overall feel and function of the business. Every personality is distinct. Therefore, you must account for there being potential candidates for a job whose work environment needs differ.Why are they useful?There are several benefits from writing your Successful employee handbook. However, there are three areas which are key. These are education, establishment, and explanations.EducationEducation is for the employee. This part of the manual shows the person the policies, the values, the expectations, the attendance policies, scheduling, and such. It is critical that employees know what is expected of them. But, you cannot just give them a quick lecture and expect the information to stick. Employees need to have a means of double-checking. An employee handbook is a good way in which you can ensure compliance across the board. Word of mouth could become distorted or misinterpreted. Only through having a written manual can you your intentions are clarified.EstablishmentThis highlights the behavioural and non-negotiable areas of the business. While there are some areas which can be negotiated (such as pay) there are others which are not. Behaviours which are common to businesses, such as a non-harassment section, should be placed within the establishment section of the handbook.ExplanationsThese ensure you are following all laws mandated. They should be just as the name states, explanations of all the laws and other mandates. These laws should be quoted. If there are any areas which may seem unclear, the employee handbook is helpful as it provides the clarity needed for then to maintain the laws and mandates. You could put a copy of these laws, procedures, and stipulations in the handbook.Now that you know what an employee handbook is and why it is needed for a business. The next step is creating one. But where do you start? Here are a few tips to get you on your way.Tips for creating your handbookCreating your successful employee handbook does not have to be a daunting task. There are a few tips which can be followed which will help you in making the best guide for your business.Work slowly on your handbook – avoid rushing writing it as you get lots of issues by doing this. Take the time to know your overall business goals and how you intend to meet them.Look for loopholes – A loophole in your employee handbook is an area where you need to define or expound upon information. If you have found a loophole eventually an employee will as well. By plugging the holes, you create clarity and consistency throughout your business.Make a code of ethics, an established hierarchy, and procedural guide – All businesses need to have a code of conduct, an established hierarchy, and a procedural guide. Ethics ensures that you have the right people working for your business. Hierarchy is necessary to keep problems from escalating, and procedures show how you will handle those issues.Overall, you will need to write clearly, avoid ambiguous statements, and have everything defined about your business’s operations so that there is no room for doubt.ConclusionIf you have questions after listening to this podcast, don't hesitate to reach out!  We're here for you every step of the way. Running a business can be overwhelming. Writing your Successful employee handbook is a necessity.Put yourself more in control over your business. Listen to find out more. Furthermore, it doesn’t

How to change from a sole trader into a company is this week’s podcast.  What are the two most popular business structures in the UK and beyond? They are the sole trader or limited company.  Likewise, a limited company in the United States and elsewhere is referred to as a corporation.There are things to take of when you make that change from a sole trader into a company.  Furthermore, they can be condensed into four key areas, namelyFirstly, Mindset shiftSecondly, Battle of the formsThirdly, CommunicationFurther, TaxListen to find out moreConclusionIf you have questions after listening to this podcast, don't hesitate to reach out! We're here for you every step of the way. Running a business can be overwhelming.  Understanding how to change from a sole trader to a company can make you reach for the medicine cabinet!Let us be your medicine cabinet and relive that stress and anxiety.  In short, your first step is to Listen to this short podcast on I Hate Numbers.Put yourself more in control over your business. Listen to find out more. Furthermore, it doesn’t matter what size, shape or form your business is. Understand how to make that transition as smoothly and painlessly as possible. My podcast will helpListen to find out more, tap into more details at HMRC.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcastsfeed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3

Are you a business owner then this podcast Furlough Ends - Business Wrap Up is for you! You'll learnWhat housekeeping exercises are neededHow to deal with overclaimsThe entries to be made in your tax return, self-employed or CT form.It's all jargon free so that anyone can understand it.What is FurloughingThis is effectively employee hibernation. The Corona Virus Job Retention Scheme was the money to support it.Click here to find out more information Furlough Ends - Business Wrap UpConclusionIf you have any questions or concerns after listening to this podcast, please don't hesitate to reach out! We're here for you every step of the way. Let us help make sure that you wrap things properly.  If you want a visual of the entries in your tax return then watch this videoAbove all, you need to reflect on Furlough Ends - Business Wrap Up.  This is a must know if you have claimed the Furlough Grant.  You need to put yourself more in control over your business. Listen to find out more. Furthermore, it doesn’t matter what size, shape or form your business is. You need to understand how to wrap up and prepare now the scheme has finished.  My podcast will help.Listen to find out more, tap into more details at HMRC.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcastsfeed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Business Growth and Overtrading is one of the biggest problems facing businesses today,  Furthermore it impacts startups to established businesses.  It's easy enough to avoid if you know what signs look like but many companies simply don't have the time or expertise needed to spot them before they become an issue.Are you looking for a way to grow your business? If you're reading this, then it's likely that growth is part of your landscape.  A word of caution, you want to do this as quickly and efficiently as possible. You don't want to be caught out by overtrading or having too much stock on hand because of poor planning.Listen here for more information on how Business Growth & Overtrading can help manage growth effectively within your company!ConclusionAbove all, Business Growth and Overtrading is a must know if rapid growth affects your business.  You need to put yourself more in control over your business. Listen to find out more. Furthermore, it doesn’t matter what size, shape or form your business is. You need to understand how holiday pay works… My podcast will help.Listen to find out more, tap into more details at HMRC.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers.You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, YouTube, Twitter, LinkedIn and Facebook,https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Are you looking at a way of Calculating holiday entitlement and pay?Calculating holiday entitlement can be complicated, but it doesn’t have to be. In this week’s I Hate Numbers podcast I am going to look athow to calculate leave entitlements,the leave period andhow to work out your holiday pay.It is important that you understand these things, so you stay on the right side of the law.  Furthermore, not paying holiday pay is illegal and unethical.Listen now!You will learn what you need about Calculating holiday entitlement and pay with my easy-to-understand podcast.So, tune into my weekly podcast today and make sure all your calculations done correctly. Click here right now and Listen to this week’s episode of I Hate Numbers!Listen to find out moreConclusionAbove all, Calculating holiday entitlement and pay puts is a must know if you employ worker.  If you’re planning to take on workers, then this is also for you.  Put yourself more in control over your business.  Listen to find out more. Furthermore, it doesn’t matter what size, shape or form your business is.  You need to understand how holiday pay works…  My podcast will help. Listen to find out more, tap into more details at HMRC.Furthermore, my mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Understanding your financial statements is connecting to your business story. Your financial statements are your business stories, the words those stories are made up of numbers.  Figuring out what they mean can be a daunting task for any business owner.Understanding your story helps you see how your business is performing financially.  Above all this gives you clarity and insight into your past, present, and future.Financial statements are the documents that show how much money your business has made or lost, and whether it’s growing. They also give you an idea of where to focus your efforts in order to grow. If you don’t understand them, they can be confusing and overwhelming. But I think once you listen to this podcast, they won’t seem so scary anymore!After listening, you'll have a basic understanding of what these financial documents are all about, and what they mean for your business. You'll feel more confident when talking with accountants or other professionals who work with numbers. Furthermore, knowledge is power! So why not take control of something as important as your finances? It could make a huge difference in how successful (or unsuccessful) your business becomes down the road.Click here to subscribe to my podcast series today.ConclusionAbove all, Understanding your financial statements gives you more control over your business, then Listen to find out more. Businesses, start-up to established, private to social enterprise need to understand what their numbers are saying.  This podcast will help. Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

How to price using Target CostingHow to price using Target Costing is this week’s podcast theme.  Do you want to reduce your costs by 25% to 30%?If so, then target costing is the right choice for you. Above all How to price using Target Costing can help you cut costs without sacrificing quality.The focus of Target Costing is reducing waste from the start of production.  Don't wait until products are made. Moreover, this means that every step of the process is designed with cost-cutting in mind.  You gain better prices and margins for your business.Listen now to find out more about how Target Costing works!Traditional costing is the most used method for pricing goods and services. The two methods share things in common but also have differences. You choose the method most appropriate for your target customers and product mix. Target costing has been around for many decades, much longer than cost-plus costing.Target costing was developed by Toyota Motor Corporation to reduce costs while increasing quality of its products. It’s now widely used throughout many industries from automotive to consumer electronics.ConclusionMoreover, if interested in dealing with pricing, controlling costs this is explained here for you.  You learn how it affects you, avoid confusion and overwhelm.  Many businesses, start-up to established find themselves in the same situation.  Wanting to know about How to price using Target Costing, more particularly taking steps to avoid it.  This podcast will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Resource Analysis, and how to carry one out is this weeks topic. Let me show you how to do a resource analysis for your business?Firstly, Resource Analysis is the process of identifying and evaluating all the resources that are available to achieve an objective.Secondly, Resources include anything that can help or hinder your organisation meeting its objectives. For instance, resources include people, equipment, time, and money. The strategic capability of your business is determined by having adequate and suitable resources and competences. For competencies, think capabilities. Furthermore, resources and competencies are needed so your business can survive and prosper.Above all Resource Analysis helps your business bridge the gap. This is the gap between having valuable resources and using them constructively and efficiently.Most importantly a resource analysis helps you understand what resources are important for your business’ success. Moreover, it will give you insight into which areas need improvement or further investment.Furthermore, managers can see if they have sufficient resources before making any major decisions or investments in new projects. You might even find out that there are some things that don’t really matter anymore!This can be illustrated by the following table [table id=37 /]Listen to find out more.ConclusionMoreover, if interested in dealing with Resource Analysis for your business then Listen to find out more. This is all explained in here for you. In addition, you will learn how to categorise resources, and limitations in this approach. This podcast will help.Listen to find out more.Above all, my mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers.  I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D  

Undercapitalization and business failure go hand in hand, like Peaches and Cream, Gin and Tonic, Pineapple and Pizza.Undercapitalization is the main reason why many businesses, from start-up to established become financial failures and perish.  In this week’s podcast I'm going to talk to you aboutwhat undercapitalization means,what causes itwhy it's such a problemTips to help you avoid that happening in your own business.Welcome to another weekly podcast on I hate numbers.  The podcast to help improve your financial understanding in business.  Above all it's there to help improve your money mindset, make more money, save tax and time.Meaning of Undercapitalization You may have heard about the term "undercapitalization" and how it leads to business failure. If you're not sure what this means, don't worry, I’ll answer that question and more in this podcast.What is undercapitalization? It's when your business doesn't have enough money to cover its expenses or grow as quickly as it needs to.  Furthermore, why does this happen?  Sometimes people think that they need less money than they do for a given project or taskListen to find out moreConclusionMoreover, if interested in dealing with Undercapitalization and business failure, this is all explained is here for you.  You will learn how it affects you, avoid confusion and overwhelm.  Many businesses, start-up to established find themselves in the same situation.  Wanting to know about Undercapitalization, more particularly taking steps to avoid it.  This podcast will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Claiming back VAT on cars, do you want to get VAT back on your car purchase?If you buy a car for business purposes, then the VAT is recoverable. But if HMRC thinks that it's not being used exclusively for business purposes, they will block your claim. In this week’s I hate numbers podcast, I am going to explain what exactly is meant by “exclusive use” and how you can prove that your car meets these requirements.The rules around exclusive use of cars are very complicated and there are lots of grey areas where HMRC could challenge your claims. So in this podcast episode, I'm going to give you some tips on how to make sure that when buying a new or second hand vehicle for work purposes, you don't fall foul of the taxman!What is the VAT definition of a car?That may sound a bizarre question, but if a vehicle is not a car, it will normally be a commercial vehicle or a van.  If it's a commercial vehicle or Van reclaiming VAT is easier.Listen to find out moreConclusionMoreover, if interested in Claiming back VAT on cars , this is all explained is here for you.  You will learn how it affects you, avoid confusion and overwhelm.  Many businesses find themselves in the same situation, wanting to know about VAT, more particularly claiming it back.  This podcast will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

National Insurance easily explained is to help self employed, employees and employer understand National insurance.In this weeks podcast I'm going to be talking about national insurance, NI for short.  Specificallywhat it iswhy you payhow much you paythe planned increase in NI for April 2022.The government has announced a hike in NI to fund social care. Fear not that's covered later in this week's podcast.National Insurance is a tax that helps pay for a variety of things.  For example, the NHS, social care and other public services. Moreover, It's also used to help fund state benefits such as Jobseeker's Allowance and Employment Support Allowance.NI is confusing because it has a number of parts.  I am going to explain this in simple language.  You can understand what they are, why you pay them and how much they cost.  Check the link to find out more about how much you payListen now to find out more!ConclusionMoreover, if you want to understand National Insurance, National Insurance easily explained is here for you.  You will learn how it affects you, avoid confusion and overwhelm.  Many businesses, employers and employees find themselves in the same situation, wanting to know about NI.  National Insurance easily explained will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

What are your VAT responsibilities when your business becomes VAT registered?  Do you know what they are when your business becomes VAT registered?You take on responsibilities as an unpaid tax collector working for HMRC. If you do not comply with these responsibilities, then it's likely you will be relegated to HMRC's naughty step.  Above all fines and penalties are likely to follow.  We don't want that !.In this week's podcast, we'll cover basics of your VAT duties so you stay out of trouble!Listen now to find out moreAre you confused about VAT?In this week's I hate numbers podcast, I am going to talk aboutThe different types of VAT supplies, for supplies think turnoverI will discuss the conditions that need to be met to claim back any VATReverse charging, and I do not mean collect callsFinally, I will cover how to complete a VAT return and when it should be submitted.If you want a simple explanation of all things related to UK Value Added Tax (VAT), or business and finance then you are spoilt for choice! I have my weekly podcast, videos and blogs.ConclusionMoreover, if you want to understand your VAT responsibilities, avoid confusion and overwhelm , I am here to help.  In fact, many businesses find themselves in the same situation, wanting to know what their VAT responsibilities are, and how to avoid getting into VAT hot water!.  This podcast on An Introduction to what VAT is will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.If you found this podcast useful then share this episode on social, leave a review on Apple podcast .  Connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

An Introduction to what VAT is, that is my topic in this weeks I Hate Numbers podcast.  In this series of podcasts, I am going to look at what VAT is and how it affects your business.Are you a business owner and want to know more about VAT?What is it, how does it affect your business, and what's the system like? If so, then this podcast will be perfect for you. In this first part we'll look at what VAT is, why businesses need to pay it and how they do that.Listen now to find out more.So in let's start with what is VAT? Well, value added tax or to give it its correct name is a form of consumption tax which means that it's paid when goods and services are bought and sold rather than when they are produced like income tax for example. It was introduced in 1973 as part of a move towards taxing expenditure rather than income but has been around in various forms since 1932 under different names such as purchase tax or turnover tax depending on where you lived at the time.Roles and responsibilities of VAT registered businessesDo you have a business? Are you registered for VAT?If so, then you are part of the millions of unpaid tax collectors employed by the government in the UK and around the world.  You join them as soon as your turnover reaches the registration limit, currently £85,000 over the last 12 months.  VAT is collected on behalf of HMRC by businesses that are registered for VAT.In general it does not affect your profitability but there may be some exceptions to this rule depending on what type of business you run and how much turnover you have.ConclusionMoreover, if you worried, confused, or need help with understanding VAT, you’re not alone. In fact, many businesses find themselves in the same situation.  This podcast on An Introduction to what VAT is will help.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share this episode on social, leave a review on Apple podcast, connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vaWhhdGVudW1iZXJzLw%3D%3D

Do you struggle with your mental health and money? You’re not alone. Millions of people are struggling with their mental health and money, but it doesn’t have to be that way. There is a solution!You’re not alone. Millions of people are struggling with their mental health and money, but it doesn’t have to be that way. There is a solution!It’s not an uncommon feeling to feel overwhelmed by debt, anxiety, depression, and the stress of everyday life.  Things become much when you take control of your finances and start taking care of yourself.And while there are many reasons for this anxiety, one thing is certain – financial stress has a direct impact on your mental health and well-being.  This week’s podcast shines a light, shares tips, and advice.In this podcast I am going to share four tips to help you with Your mental health and money .  Moreover, this will improve your sense of well being and improve your attitude to money.First Tip : Your own behaviours and attitudes.Second Tip : B is for budgeting, what some people dread but it will help restore calm, certainty and control into your lifeThird Tip: Buying when you are not 10% and shiny bauble syndromeFourth Tip:  Your Physical and mental health.ConclusionMoreover, if you ever find yourself worrying about money you’re not alone. In fact, it’s estimated that many adults worry about their finances at least some of the time.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share this episode on social, leave a review on Apple podcast, connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

How you Build your cash flow with a spreadsheetI'm going to show you how you build your own cash flow forecast by tapping into the most powerful resource in your financial toolbox, the spreadsheet.  In this week’s episode of I Hate Numbers I'm going to look atyour initial steps, the first thing you should doI'm then going to be looking at the principles or spreadsheet buildinggeneral considerationsthe business Lego bricks approachCash is the commodity that keeps your business going, your business lines burning.  Spreadsheets are not the preserve of the accountants, the finance people or at least it shouldn't be.The principles in this podcast will apply whether you use Microsoft Excel, Google Sheets, or any other package.Using spreadsheets to tell your business and cash storySpreadsheets are a powerful tool in your business toolbox. They take the heavy lifting out of number crunching and are a practical help in the world of finance and numbers. Above all we need to think about the look and feel of our spreadsheet. You don't need to be an IT or math’s genius to build a good workable spreadsheet, but take care with its look, design, and use.My I Hate Numbers Food Palace business will be used to show you how you build your cash flow forecast with a spreadsheet.  The business prepares and delivers delicious food to corporate clients. And your business may not be a food business, but that's okay. Because the knowledge and approach is very transferable.  Check out my video to see a visual demonstration.Think about what you want your spreadsheet to show you.Above all I want to see the financial outcome of my planned activity for the next 12 months? What does that mean in terms ofCash contributionThe cash left over after paying for your overheads and cash commitmentsHow much money I left in your bank at the end of each month?Will you be clenching your buttocks or relaxing as the cash depletes or piles upPutting information into your spreadsheetWhen you build your cash forecast do not edit as you go along.  Do not stop yourself and say I can't afford to do that. The key thing is, is to get the story, get the numbers in the spreadsheet, see what the spreadsheet is telling us.Your cash flow spreadsheet reflects your wish list, aspirations, and how you see your business unfolding.  It's the story of what you're trying to do with your company.  You have the option and power to change it.Your numbers are telling a story about what you want for yourself and for your company - don't let them tell a different one !Listen to find out more.ConclusionAbove all, how you build your cash flow forecast with a spreadsheet is good to know.  It keeps you closer to your business numbers, and a key business tool, the spreadsheet!  This week’s podcast tells you this, plus calculations, tips, and advice.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share this episode on social, leave a review on Apple podcast, connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Making your cash flow forecast is the most important financial and business task you can do in your business.Running a business is hard. But there’s one thing that will always derail your dreams, scupper your business, and have it collapsing around you - running out of cash.Above all, whatever the size, shape, or type of your business, you must have a forecast. This week my I Hate Numbers podcast helps you build yours so that you can make sure that never happens again!I'll show you that by making your cashflow forecast you'll be able to see exactly where your money is coming from and going to at any given time – which means no more surprises when it comes time for payroll or rent! And if something does go wrong? No worries! You've got this now.Listen now to find out moreDo you want to know how to forecast your cash flow?Making a cash flow forecast is the process of predicting what will happen with your company’s finances. It involves translating your business story into activity and then turning that activity into a financial plan.You need a plan so that when challenges come up, you are prepared and ready to face them head on. A good way to start this journey is by making a cash flow forecast today! All you need is your business story and then you can start.The steps you need to go through to make that forecast a reality - translating that business story, into what that means in terms of activity and getting out your business Lego bricks, to turn that activity into your financials. If you want a visual representation folks, then check out this video on my I Hate Numbers You Tube channel,.ConclusionAbove all, you need to know that Making your cash flow forecast is the key to your financial liberation, well-being and control.  This week’s podcast tells you this, plus calculations, tips, and advice.Listen to find out more.My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your wellbeing and your money mindset.Help me to help you and others by subscribing and sharing this episode in your network.  .  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share this episode on social, leave a review on Apple podcast, connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Cash is your financial priority, which is this weeks I Hate Numbers podcast.  In previous weeks turnover and profits have been in the spotlight, this time Cash is taking centre stage.In this podcast I'm going to look atWhat cash isWhy Cash is your financial priorityTips for managing your cashListen to find out more.Why Cash is your number one financial priorityProfitable businesses have become basket cases because they run out of cash.  Profit is important, that always must be a financial goal, part of your thinking and action. Moreover, cash is what keeps the lights on, the wheels of your business turning.  It’s like the fuel that drives a car, no fuel, no movement.Listen to find out moreHow to make your cash flows betterTo keep a ready supply of cash to pay your bills, your suppliers and yourself adopt good practices. Those includeManage the credit you giveUpdate your booksPay your billsDo a cash flow forecastA cash plan, a forecast is not a strait jacket, it is critical to realize your life and your business aspirations and goals. If you can’t think beyond today, then you have a problem.  Planning is liberating, empowering and life affirmingConclusionAbove all, you need to know that Cash is your financial priority. This week’s podcast tells you this, plus calculations, tips, and advice.Listen to find out more. My mission is to help you get better acquainted with your best friend in business, your numbers-  improving your money mindset and wellbeing, making profit, save tax and time.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share this episode on social, leave a review on Apple podcast, connect with me on Instagram, You Tube, Twitter, LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Last week I talked about turnover, this week it’s What are your business profits?Most people see profit as the difference between money in and money out. When people say money, they mean notes and coins, what's in their bank account.  That sounds nice, and easy to calculate. However, we are talking about the world of numbers and business here!Welcome to another weekly episode of I Hate Numbers.  My mission is to inform, inspire and educate you to get closer to your numbers.  This is a must do if you want to make  money from your business and are not run it as a hobby.Profit is not measured in terms of money in and money out.  When you calculate profit it’s a completely different ball game.What about accounting terms do you need to know?In this podcast I am going to look at four jargon words.  Don’t worry, I will convert that  jargon to normal speech!The four key terms I’ll be de-jargoning, all necessary to understand What are your business profits.TurnoverCost of salesExpensesIncurredHow you calculate profit in your business Profit is about measuring your economic activity and converting that into numbers.  For an accurate calculation of profit, we apply the principle of number dating.  This is a key accounting rule known as the ‘matching principle’In this podcast will talk about the two main profits in your business, gross profit, and net profit.Listen to find out more.ConclusionAbove all, you need to know what your business profit is.  This week’s podcast tells you what you need to know, calculations, tips, and advice.Listen to find out more.I love to help business owners connect with and understand their numbers, improve their attitude to money, make more profit, save tax and time.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share episode on social, leave a review on Apple podcast, connect with me on Instagram , You Tube, Twitter , LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

What is turnover in business?Turnover is a popular term used in business.  It’s the official terminology used in company accounts, the tax returns of self-employed & partnerships, and is common usage in the business world.  In this week’s episode of I Hate Numbers , I will explain (1) what turnover is; (2) explain how it's calculated; (3) why it's important for your business; and (4) turnover should be monitored to make sure you're profitable.You want to know more about turnover so that you can keep track of your profits!  This video will teach you everything you need to know about calculating turnover as well as why they are important for your company.  So, sit back, relax, and enjoy learning all about turnovers with me today!Listen now  to find out more.Welcome to another weekly episode of I Hate Numbers, the show that aims to educate-inspire-inform you with jargon free info-tools-tips about your best Business Friend, your numbers.Please hit the Subscribe button, feedback, share the podcast with those who will need it.What does turnover in business tell youTurnover tells us how well our business is doing financially so it’s important to know what it means! If turnover goes up then this usually means more money coming into our business but if turnover goes down then this usually means less money coming into our business which could mean trouble ahead for some businesses! So make sure to keep track of turnover numbers so that you can see where we're going financially!Keep track of turnovers by using accounting software like Xero Accounting Software ! They'll help us stay on top of things without having to do any calculations yourself,Turnover is one measure of your financial performance.  Your turnover in business has some importance, but it should not be your main financial priority.  This sounds bonkers,Listen now  to find out more.Watch out for next week's podcast.  I will dive deeper into profit, what it is and why it's so important.If you found this podcast useful then share episode on social, leave a review on Apple podcast, connect with me on  ….ConclusionMoreover, you need to know what turnover in business is. This podcast tells you all you need to know, calculations, tips, and advice.Listen to find out more.I love to help business owners connect with and understand their numbers, improve their attitude to money, make more profit, save tax and time.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areIf you found this podcast useful then share episode on social, leave a review on Apple podcast, connect with me on Instagram , You Tube, Twitter , LinkedIn and Facebook,Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

What are the risks of self-employment? Great question.  Risks and life go naturally together. It's as natural as ham and pineapple pizza gin and tonics and cheese pickle sandwiches.  That's no different when you enter the world of business and you start working for yourself and become, self-employed think of those risks as part of your route to self-employment.In this podcast, I will guide you through some of the main issues that you are likely to face. I'm going to discuss how to best prepare for them, knowing and dealing with those risks gives us a clear path to success.  Hi folks. My name is Mahmood. I am the podcast host of I hate numbers and my mission in life is to simplify the world of finance and numbers for business owners, help them make more time, help them save tax, make more profits and improve what goes on between their ears.Self-employment versus employmentThere are many benefits to going alone, there are also downsides.  Control, responsibility, destiny, and money are some of them.Wanting to explore the tax differences?  Check out or FREE online calculators.What are some of the other risks of working for yourself looked at in this podcast?Uncertainty, risk, and your money attitudeWorking capital, money fuel to run your business.Mistakes, and what Edison’s take on it isPricing your products and services correctlyTracking and understanding your money in and money outSales and marketing. It’s more than your website and a bunch of business cards.Check out or FREE online calculators.Moreover, do you want to know the answer to the question ‘What are the risks of self employment ?  This podcast tells you all you need to know, with tips, and adviceListen to find out more.Firstly, I love to help business owners connect with and understand their numbers.  Above all I want you to improve your attitude to money, make more profit, save tax and time.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Can you claim tax back for working at home?  Have you had to work from home because of COVID? Would you like to know how you can claim tax relief and get extra cash into your pockets? Well, carry on listening to this this week I Hate Numbers podcast episode to find out how.Firstly, I will let you know how the tax relief works.  Secondly, how you can check if you are eligible to make the claim.  Lastly, how you make the claim and what that can be worth to you.Listen to find out more.If you work from home, or have staff working remotely for your company, then this podcast is for you!  The pandemic resulted in millions of people having to work from home.  Tax relief for working from here has been with us for several years, but for 20-21 and 21-22 the rules have relaxed.  One day working from home, can result in being able to claim £125.Listen to find out more.How to claim for working from homeCan you claim tax back for working at home? Short answer, yes.  Firstly, either claim tax relief based on a flat rate allowance’ or claim the extra costs you have actually incurred.  To do so you’ll need evidence such as receipts, bills, or contractsThis can be worth as much as £125 for a year.  You can claim for previous years, there is up to £500 on the table.  Follow the link to check if you can claimConclusionMoreover, do you want to know the answer to the question ‘Can you claim tax back for working at home?    This podcast tells you all you need to know, calculations, tips, and adviceListen to find out more.I love to help business owners connect with and understand their numbers, improve their attitude to money, make more profit, save tax and time.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

If you submit a UK tax return and you owe more than a thousand pounds, then be aware of payments on account.Payments on account are a topic that is not properly talked about or understood, but it can catch out taxpayers.  In this episode I am going to dive deep into payments on account.Firstly, I will look at what Payments on account are, how they are calculated, how to reduce them and when you have got to pay them.  Secondly, my friends Rishi and Boris will be helping me with numbers and dates.   Finally, I will look at the general framework of how the UK personal tax system works.Listen to find out more.Your Income and tax that is deducted Are you self-employed, a landlord who might have some rental income being a director, shareholder who has income by way of dividends?Be aware that some you make ends up in your pocket without has not had tax taken off when you earn it. There is more responsibility on your shoulders to make sure you have put enough by to cover your taxes.We are here for you! We will help you with all the little things like saving for your taxes and making sure they are taxed at source so there are no surprises come tax time.Tax calculatorsAre you looking for a way to calculate your taxes?You have come to the right place! We have online calculators that will do all the heavy lifting for you. All you need is some basic information about your income and deductions, and we will take care of the rest. It could not be easier.This tool can help make filing taxes less stressful by doing most of the work for you. If this sounds like something that would be helpful to you, go ahead and give it a try today!Click here now to use our free tax calculator!What nextMoreover, do you want to know more about payments on account?  This podcast tells you what you need to know about payments on account, calculations, tips, and adviceListen to find out more.Help me share Number Love by telling your friends and family about the show.  Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Self-employed and want to know more about the fifth Self-Employment grant?Most importantly, the fifth Self-Employment grant differs from previous grants. There’s an extra turnover test to see how much you can claim. This podcast looks at this, grant eligibility, what you must do. In addition, I will share examples and tips. Above all, your claim is based on your reasonable judgement, evidence, and judgement.Click here for the full podcast now! You won't regret it! I'll answer your questions so you can make an informed decision about applying for the grant.Who can claim the fifth Self-Employment grant ?This fifth Self Employment Grant is for those affected by the coronavirus outbreak.  The grant will cover the period May 2021 to September 2021.No government announcements have been made for additional financial support for the self-employed beyond September 2021.In today’s podcast, I am going to be looking at how the fifth self-employed grant differs, compared to previous grants.  Furthermore I look at eligibility criteria, and evidence.  Lastly, I will be looking at how much the grant is worth, and possible HMRC follow up action.How is the claim made for the fifth Self-Employment grant ?Firstly, HMRC will make the initial assessments as to whether you are eligible to apply.  They should you to to confirm whether you can make the application.Initial eligibility, for example whether you are self-employed, level of your trading profits, and filing your tax return HMRC will know that.  No change compared to previous claims, check out those details.You don't need to provide any financial data because HMRC have that on file, you've got to make a declaration that you intend to continue to trade, you've got a reasonable belief that there's going to be a significant reduction in your trading profits because of reduced business activity.  The key thing is the link and connection between Coronavirus and your business between May and September 2021.But make sure you have the evidence to back that up. More of that in the podcast.What nextAbove all, do you want to know more about the fifth Self-Employment grant?  You can get it if you meet all these conditions.   This podcast will tell you what you need to know about eligibility, the pitfalls, examples and tips.  Your  claim is based on your reasonable judgement, evidence, and judgement.  What does this mean?Listen to find out more.Help me share Number Love by telling your friends and family about the show.  Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Social Enterprise and Community Interest Companies are a great way to do good and make money.They go together like a well fitted glove.  Social Enterprise means business that wishes to do social good, be entrepreneurial, and make money.  A Community Interest Company, or CICs for short is a great vehicle to run your social enterprise through.This week’s podcast looks at Social enterprise and Community Interest Companies, the what, why and when of CICsListen to find out more.Social Enterprise and the details of CICs Firstly, Social enterprise is about making a profit and doing good at the same time. It can be anything from running an ethical coffee shop, to providing clean water in developing countries.  Secondly, CICs are companies with features different to traditional companies. These features include the asset lock, community interest test, and halfway house between a charity and private company.Moreover, you can choose your own path with social enterprise.  You can start your own business, or work for someone else who shares your values. With CICs there's no need for compromise on either side of the equation - you get both financial security and social impact that will last long after you've left work behind!Social enterprises are businesses that generate profit and make a positive difference to society. They are not just small projects; they can be large scale like the Eden Project and Big Issue.CICs and CharitiesIf you're looking for a way to help your community, but don't know where to start, this podcast is for you.A CIC (Community Interest Company) is a different form of company set up by anyone with the intention of benefiting their local community. They are not charities and they do not have charitable status. This means that they will need to pay tax on any profits made from trading activities.However, if forming a charity is in your cross hairs then a CIC can be the first step on that path - Charities can be converted from CICs, and have CICs running in tandem with them.There are many benefits to setting up a CIC.  Theses include being able to offer shares and attract investment from individuals who want to support your work.  You can take advantage of government grants and funding schemes.  Above all you have more control over how you operate without the restrictions of charity over how you run your organisation, and make and use money..Listen to find out more.What nextWhat new types of business are you looking for?We're here to help you explore how these new types of business might work for your organisation or project. You may find it helpful if you're looking for ways to turn your idea into reality,  Contact me If you're already running an enterprise but would like some help on how best to do this. I'll be happy to see what we can do together!Help me share Number Love by telling your friends and family about the show.  Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

When and how to complete form W-8BEN-E is a must for non-US tax resident entities earning money in the US.  This week’s I Hate Numbers podcast follows on from last week.Last week I dealt with individuals and sole traders earning money from the US, who have income from the U S.  This week in I Hate Numbers, it is the turn of companies, partnerships, charities, and single member companies.Tax and forms, tax and forms go hand in hand, just like chips and gravy, gin and tonic and pineapple and pizza. None more so do tax and forms go hand in hand when, as a non us tax resident, you are dealing with the us and earning money from there.In this week podcast, it is the turn of companies, partnerships, charities, and single member companies.  When and how to complete form W-8BEN-E is my this week podcast focus .What goes into form W-8BEN-E? I will walk you through form W-8BEN-E.  My podcast may not be the perfect format for showing what the forms look like.  I have got you covered, check out my you tube video video for a visual.  Moreover, I am going to take you on step by step by journey to explain the form, what it is about, and what goes into it.At 30 sections, the W-8BEN-E IS a weightier tome compared to the one that individuals and sole traders must complete.  Do not get overwhelmed though, not all thirty sections will apply to most of you, it’s a one size fits all form.Abbreviations and forms are natural bedfellows, it must be a word space thing!   Let’s face it, it would not be a form unless you had abbreviations.  Abbreviations are FATCA, NFFE and TIN.  Phrases keep the abbreviations company.  One such phrase, or term if you prefer is the ownership and based erosion test.  You need to know what this is to complete the form.Listen to find out more.Single member companiesThere are different tax and business structures in the US compared to the UK.  One example is the C corporation , which is the most common business structure.  The C corporation is taxed like UK limited companies.  The company pays tax on its profits. The individual shareholders directors will pay tax on the basis that dividends are withdrawn, or salaries paid to the owners.Moreover, single shareholder companies are not recognized as US C corporations, which are limited company as we know them in the UK.   If you are a single member company that wants to be taxed as C Corporation then you must complete a couple of extra forms, as well a form W-8BEN-E.Listen to find out more.What nextIn conclusion. If you do not complete the W-8BEN-E form correctly you will get a financial kick in your balls, 30% tax stopped at source.  Ouch! This podcast on When and how to complete form W-8BEN-E is useful stuff.Help me share Number Love by telling your friends and family about the show.  Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areMy news section, FREE online calculators are there for you.Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Where you are not a US citizen and have money from the US is Why you need to complete form W8. This money could be from your clients, pension income, royalties, dividends, capital gains – you get the picture.Who must complete the W8 form?Most importantly, it applies to anyone who is not a U S citizen who does not have a permanent establishment in the U S. For example, if you are an individual, sole trader, company or even a charity, not for profit then you must complete form W8.Firstly, there are two main variations of the form W8. Form W-8-BEN for individuals and sole traders, and W-8BEN-E is for companies, partnerships, charities, and corporations.This weeks’ I Hate Numbers podcast focus is on the W-8BEN form.What is the purpose of the W-8BEN form?Great question. The IRS form must be given to your US client or payer, otherwise they will deduct 30% withholding tax! Before payment is made to you, they must establish who you are, what your tax status is, and whether withholding tax applies to your situation.I will talk you through what goes into the W-8BEN form. You cannot complete a tax form without getting a headache over jargon. My mind also wanders to George Bernard Shaw who said that The United States and Great Britain are two countries separated by a common language.,I have you covered. I will translate the official speak, talk US-UK tax treaties and TINs. Fancy seeing what a completed form looks like, click the link to see a video visual.You need to complete the form to stop 30% tax withheld at source. You don't want this!!. Remember, you still must report this and account for it in the UK, but we're talking about preventing withholding tax being applied.What nextIn conclusion. If you do not complete the W-8BEN form you will have 30% tax stopped at source, which is not what you want. I hope you found this podcast useful. Help me share Number Love by telling your friends and family about the show. Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areMy news section, FREE online calculators are there for you. Just click here now to get started!Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Do you want to know the Six steps to managing your cashflow ?Cash is the lifeblood of any company. It's what pays for salaries, inventory, and everything else that keeps a business running smoothly Do you know how to manage your cashflow?This week on the I Hate Numbers podcast, we're going to talk about six steps to managing your cashflow. You'll learn what it means and why it's important for your business. I'll also give you some tips on how to do it without getting overwhelmed!If you want a successful business, then this is one of the most important things that you need to be doing. It doesn't matter if you have a profit or not - if there isn't any money coming in, then there won't be any money going out either! Managing your cash flow will help keep everything running smoothly so that nothing falls through the cracks and puts stress on other aspects of your company. And don't worry - I've got lots of easy-to-follow advice for making sure that happens!Click here now and listen to my latest episode!Do you want to know more about how people feel about money?Money is a big deal. It's the lifeblood of your business and it can make or break you. You need to understand what cash flow means, why it matters, and how to manage your finances in order for them not to get out of control. I'm here with six steps that will help you do just that!There's an opportunity for you to win fifty pounds cash or amazon voucher by completing this quick two minute survey! All we need from you is two minutes of your time so we can better understand the problem and find solutions together. So click below now and complete the survey!Click and complete our short two minute survey!What nextYou’re looking for a way to manage your cashflow? I hope you get some value from this podcast on six steps to manage your cashflow. You are not on your own! Contact us to see where we can help. Our news section, FREE online calculators are there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! areClick here for more business and finance, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

You may be thinking, "I'm a business owner. I don't need to worry about How different is cash to profits? " But it is important to understand the difference because they are not always interchangeable. Cash is what pays your bills, while profit is how much money you have leftover after paying those bills. If you want to grow your company or just stay afloat, understanding this distinction can help make sure you have enough of both on hand.This podcast episode will show you what is the difference between cash and profits.  Next time someone asks if your company has any money in the bank, you will be able to answer with more confidence.Download our latest episode now by clicking here!Money mindset and financial goals.Do you want to know the two most important financial goals you must-have?Cash and profit.  Your money mindset, your attitude to money must be tuned in to understanding and managing cash and profit.  I need your help. I love hearing what you think about money. Take part in this quick two-minute survey, share your thoughts AND also get a chance to win £50! Wow!Share your thoughts on this quick 2-minute survey for a chance at winning £50!  You'll also find out how other people feel about their finances too so it's great for insight into the minds of others around the world.  Plus, we're always happy when we hear from others so please take part today :)Click here now for a chance at winning £50 with this short 2-minute survey!Are you looking for a new way to manage your business cashflow?The ABC Method is the best way to take control of your business cashflow. It’s simple, easy and effective. You can use it in any industry or size of company. And now there are even more ways to make it work for you - like our free webinar on 27-May-21 at 6 pm where Ill go over everything in detail!I want to show you how this method works so that you can start using it today. Register now and get access to our live webinar, slides, notes, and guide all provided for free when you register! This will not dilute the value but will give you an opportunity to see what this is all about before deciding if it's right for your needs.Click here now and sign up for our Live Webinar on 27-May-21 at 6 pm with slides, notes and a guide provided by us!What nextI hope you get some value from this podcast on How different is cash to profits? Above all, you are not on your own! Contact us to see how we can help? Our news section, FREE online calculators is there for you.  Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tips Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Why should you get your tax return in early?This week I Hate Numbers podcast is about Why you should get your tax return in early?Firstly, I am going to share with you the reasons as to why it is beneficial for you to send your tax return in earlier than the deadline. Secondly, I am going to share some tools and resources. Furthermore, a chance to win 50 pounds either in cash or Amazon vouchers. More of that later in the podcast.There are many reasons why you should send your tax return in early. You may be thinking, well, that is several months ahead, I have got nothing to worry about. I will just wait and deal with it as I normally do with the many millions of taxpayers and do that in the last month or so before tax return deadline comes in. I'm going to say at the outset. That is not a good approach.Listen to find out more.What information do you need for your tax return?An obstacle to starting your tax return is what do I need to get hold off? Let me share with you a resource that we share with our clients. It is available on the website, there's a link in the show notes about the information that you typically need for your personal tax return, going from what you need if you're self-employed, if you're renting property.What can you claim for your tax return?Calculating how much tax you oweFurthermore, if you want to have a decent estimate of what your tax is going to be then check my website calculators. There is a bunch of business and tax calculators waiting for you.  Covering PAYE, break even, company and personal tax, and a whole lot more.What is your money mindset?I am fascinated by people's attitudes to money. Moreover, I take a special interest in how it affects you in your business. I am carrying out a research project on people's attitudes behind money. I would love you to share a minute or two of your time to take part and answer the survey. Now, not only will you contribute to finding more about why we have these attitudes, what we can do to improve them, but £50 is up for grabs.What nextI hope you get some value from this podcast on Why should you get your tax return in early? Above all, you are not on your own! Contact us to see how we can help? Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Let me share Three ways to change your attitude to money. Moreover, in this podcast I will look at way you should change your attitude.This week I Hate Numbers is not the just about how you make that change, in addition it’s about why you need to change.Money is power, freedom, a cushion, the root of all evil, the sum of blessings.  All of us in business we think about money, we talk about money, we plan what we are going to do when we get more of it.But truth is though, how often do you look at money in your business? And by looking at it, I do not mean just staring at a wad of banknotes, but how closely did you look at the numbers in your business?In this podcast episode, I am going to share with you three tips of how you can change your attitude to money in your business. The KPR approach, more on that laterWhy you need to change your attitude towards money in your business?You may be thinking, why do I need to change my money attitude, my money mindset. Well, you need to change your attitude to money if you want to survive and thrive. If you are not happy with the way things are going in your business, it is time to re-look at how you do things.It is time to develop and adopt a new attitude towards money. And what that means is, you are taking more control and getting closer to your numbers.Whatever your business shape or size, type or form you need to move it forward.How to change your attitude towards money in your business?In this podcast episode, I am going to share with you three tips of how you can change your attitude to money in your business. The KPR approachK is for Key, focus on two key numbers.P is for Plan, what that looks like in financial terms.Re, is for record keeping, as heads Digital Accounting is the way to go.Listen to find out moreI need your help There are an incredible and fascinating range of views and reactions that people have to Money, what they are, and the reasons for them are many. I don't pretend to know all the answers and that’s why I need your help.It's not just curiosity for curiosity’s sake, but I strongly believe that knowing what lies behind our attitudes helps us in business and in life.I need a couple of minutes of your time to complete a quick survey. I have There is also the chance No spamming from me, or creepy sales calls. There is also a £50 incentive-prize-bribe up for grabs. To take part, and to find out more select the survey link.What nextI hope you get some value from this podcast on Three ways to change your attitude to money You are not on your own! Contact us to see how we can help ? Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

In this weeks podcast episode, I'm going to share with you seven tips that will help you increase the profits in your business. The first thing is absolutely critical and that's having a good positive relationship with profit.Are you looking for ways to increase the profits in your business?You need to know what makes money and how much of it there is before anything else can happen. Once you have a clear understanding of where your company stands financially, then we can talk about what needs to be done next. And if it sounds like something worth doing, I'll show you how to do it! Let me know if any of these tips sound interesting or helpful for increasing the profitability in your business!Listen here now and find out more about my 7 Tips To Increase Profits In Your Business!Why profit is more important than salesProfit is the value of what you sell less than the cost of doing that. It’s not about how much your product costs, it’s about how much profit you make after all expenses are accounted for. You need to know this if you want to be successful in business.If you don't know where your profits come from, then there's no way for them to grow and expand into new areas of your business or life. This article will help teach you seven ways that can increase profits in any business!Listen and learn these seven tips now!What nextDo you have a business that needs help with numbers?You're in the right place! Moreover we are experts at helping businesses make sense of their financials. Whether it's figuring out how to spend your marketing budget or understanding your cash flow, we've got you covered. Our goal is to give you the confidence and clarity needed to make smart decisions about your company's finances.The best part is that this podcast is 100% free for all ! So what are you waiting for? Get started today by clicking this link and filling out our short form so we can get back to work on making sure your business succeeds financially!You do not have to worry about making these decisions alone! Contact us to see how we can help ? Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

When should your business borrow money? And yes, there will be times when it's good for your business to borrow. There will be times when it should be avoided.Planning, attitude, risk, and cost. These are the four things you need to consider when borrowing money for your business.This weeks episode of I Hate Numbers will cover these topics in detail so that you can make a sound decision about whether borrowing is right for your business. You will also learn how to avoid common pitfalls and mistakes that many businesses fall into when they borrow money for their company.I want to help you succeed with your business by making sure it's financially stable from day one! So, let's get started on our first topic - planning! To start off, we will talk about what makes a good plan and why it's important to have one before taking out any loans.Your cash flow forecast is key to any business decisionFirstly, you should not undertake any borrowing decision, until you have looked at your business future. Planning is key, borrowing a British Army phrase, Proper Planning and Preparation Prevents Piss Poor Performance.Above all you need a plan that has the three key ingredients your business purpose, end goal, and your route map to get there. Convert your story to your financial plan, your future cash flow story. Then decide whether you should borrow money, or not! As a heads up, I have got a FREE cashflow workshop webinar coming up in May, click to find out more.Listen to find out more.Your attitude, your money mindset matters.What is your attitude towards debt and your attitude to managing money? Debt has a bad press. Borrowing money, the right way, and with the right money mindset will boost your business growth.Those memories of those early days when I started my own business over 26 years ago and I borrowed money are still fresh in my mind.I was not the businessperson then that I am now and I was running my start up from my back bedroom. More money out than coming in. My head was still hurting making that transition from an employee to working for myself. Cash was needed to keep my dream and ambitions alive.Borrowing money, on top of using my own savings, and working ‘part time’ fueled my business survival, and growth, but not without the financial and emotional costs.Listen to find out more.Borrowing money and riskThirdly, let’s talk about risk. More importantly, your risk appetite and managing your risk when you borrow money.  When you take on debt you take on a commitment, more fixed costs. This will affect your business risk, your operational gearing, what a wonderful term?Thinking about your attitude to debt. Is it one that's the attitude of others? Have you had bad experiences before with debt? You are cautious about having that happening in your own business?What is the cost of the loan?You need to look at the cost of the debt, the investment you will be making. The interest rate charged is the lenders profit. The type and length of the loan, your own credit history, the purpose of the loan, the lenders assessment of the risk they are taking feed into the interest rate. For larger and riskier loans, a lender will ask for your management accounts. Make sure your financial house is in order and your financial records are up to date, Digital Accounting is what you need.Check out the loan terms, the interest rate, your monthly commitments. Use my FREE online loan calculator.Listen to find out more.ConclusionThe question, When should your business borrow money? It’s all about P.A.R.CPlanning, make sure you have one.Attitude, what is yours? Is it one that should be addressed?Risk, understanding and managing it.Cost of the loan.If you do not want your business to go backwards, then you must plan for growth. Borrowing money is a positive way to make your growth happen.I would love it if you could share this podcast and Number love with your network and help me with my mission of getting your business closer to your numbers, make profit, save tax, and time and strengthen your money mindset.Numbers are your best friend in business, they won’t lie to you, they provide focus and clarity, lessen your money anxiety.You do not have to worry about making these decisions alone! Contact us to see how we can help you figure out the question “When should your business borrow money? Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tips. Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://t

You might be wondering, Should you pay off your business debt early. I have a few thoughts on when to pay off debt, but first let us talk about the four factors that come into play.There are four factors I want to share with you in this weekly episode of I Hate Numbers.How does risk affect your loan decision ?The first factor is risk. If the interest rate on your loan is high, then paying it off early could save you money in the long run. But if the interest rate is low or even zero, there may not be much of an advantage to paying off your loan early. There is also the risk of having mor fixed costs to deal with and gearing levels go up.List to find out more and check out your gearing with our calculator.When you owe money, there are two types of risk involved – the risk of not being able to repay and the risk of interest rates going up. If you think either one could happen, then it might be better to wait until your loan matures before paying it off.Your Money Mindset and profitabilityThe second factor is personal attitude and mindset about money. Some people feel that they should always pay their loans back as soon as possible. Moreover, others believe that they should only repay when they can afford to do so. Sacrificing other important goals like saving for retirement or investing in a new home purchase is not on the agenda.aThe second factor is personal attitude or mindset about money in general. Do you feel like you need every penny you can get their hands on right now, and will do anything for more cash flow - even if that means taking on more debt! You may be the type of person that wants to pay down your loans as soon as possible. Maybe you do not want any extra monthly payments coming out of your account.Perhaps you are very conservative with how much debt you take on and only borrow what you absolutely need. It may be that you choose to keep some loans outstanding longer than others just so you can make sure everything else stays afloat financially. Making those monthly payments without having too many other obligations piling up at once.The third factor has more to do with how paying off debt will affect your profitability going forward. How much time and effort will go into managing those payments each month instead of focusing on growing the company.What about action?Finally, we come down to action, Should you pay off your business debt ? must not hurting you financially?Prepare a cash flow forecast and see what happens if you decide to pay off your debts You need to manage your cash.Cash flow is the lifeblood of any business, and it's important that you stay on top of yours. If you don't know where your money is coming from or going to, how can you make sure if paying off debt is a good move and everything runs smoothly?That's why we created this FREE guide for entrepreneurs and businesses like yourself. It will help you understand what a cash flow forecast is and how it works so that you can better plan for success in your business. Check out our upcoming webinar-session on taking control of your cash.You do not have to worry about making these decisions alone! Contact us to see how we can help you take Control of your Cashflow. Arrange an initial chat to talk options Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

There are many different business structures available, but What saves you the most tax?. Sole traders, partnerships, limited companies and more. Which one is best for your situation?In this episode of I Hate Numbers I'm going to look at What saves you the most tax? I will look at the difference between the different taxes for sole traders and companies, paying yourself, which structure makes you more money.My FREE online tax calculator will show you the total tax to pay for both business types, give you options and help you plan. Subscribe now!You'll learn about all your options in this podcast episode of I Hate Numbers. My FREE online tax calculator is ready and waiting for you.Sole Trader vs Limited Company Tax CalculatorYou can't decide 'What saves you the most tax?' without looking at the numbers. Moreover, how it works and how much you pay, and which is better. When it comes to crunching the numbers, I have just the thing for you! FREE online calculator.The best way to find out if a limited company or sole trader is right for your business is by using my free online calculator tool. It will help you work out what's best for your needs based on your circumstances.Click here now to get started. My free online sole trader versus limited company tax calculator shows the tax you will pay, personally and business wise. You can see your take home pay from both options. Use the sliders to see the impact of changing profits, salaries, and dividendsYou do not have to worry about making this decision alone! Contact us to see how we can help How to decide which type of stricture is best for you. Arrange an initial chat to talk options Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Do you want to start your own business? Don’t know How to decide which type of company is right for you?There are two types of companies that you can choose from when starting a business. Sole traders and limited companies. Both have their pros and cons. Understand your needs before making any decisions about which type of company is right for you.This week’s weekly I Hate Numbers podcast makes the decision process easier. I outline the differences between sole traders and limited companies in an easy-to-understand way. I also includes some helpful tips on how to decide if one or both types of businesses would be best for your situation.Listen to find out more!Sole trader versus limited companySole traders are just that - they trade on their own. They have no legal protection for themselves or their assets in case of bankruptcy. Limited companies offer this protection by giving owners limited liability, but it also comes with more admin and duties for directors.It's important to understand what your needs are before making any decisions about which type of company is right for you.This week’s podcast of I Hate Numbers will help make things clearer. Moreover you can find out if sole trading or becoming a limited company is best for your business. You will be able to see the pros and cons of each option, as well as seeing what’s what needs to be done when setting up either one.Listen to find out more!What about your business risk and responsibilities?For many smaller businesses being a sole trader offers a few financial advantages, but it also brings an increased level of risk.Becoming a limited company can protect owners from these risks by giving them limited liability, but more admin and duties for the directors.The difference between these two structures has to do with how they see you as an individual and your business. With a limited company, you don’t have liability for any debts or losses but if you are a sole trader then the law sees you and your business as the same so in this case, if there's any debt or loss then it will be seen as your personal responsibility.If this sounds like something that you are looking at then I highly recommend you subscribe to find out more. I also have some great resources on our site to help make sure everything goes smoothly when setting up either of these options. So, take some time today to explore all the information I've put together just for you!Listen to find out more!What nextYou do not have to worry about making this decision alone! Contact us to see how we can help How to decide which type of company is right for you? Our news section, FREE online calculators is there for you. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

What pricing strategy is right for your business is one of the most important questions and decisions you will face. Setting the right price for your product is an important part of running a successful business.It's not just about how much to charge, but also what type of price to use. Your choice will depend on your objectives and purpose. There are many different types of prices that companies use in their businesses - each with its own strengths and weaknesses.What price is right?Understanding what influences pricing, and how to set prices that are profitable can be difficult. But it is not impossible! Listen to the podcast to get the information you need to make sure you get it right. I know that ignorance in this area can be a very expensive mistake, so I want to help you avoid making any costly mistakes.How do I know if my prices are too high or too low? -What factors influence my pricing models? What should I consider when setting prices? How do I calculate profit margins? When should I raise or lower my prices? Do discounts always mean higher profits? And much more...The wrong pricing strategy can be a very expensive mistake! Ignorance in this area can put severe limits on your business and disrupt your cashflow.It's crucial to know and understand your market, costs, and customers to set an appropriate price. The Harvard Business Review showed that a 1% improvement in price could improve profits by 11.1%. Wow!There are many factors to consider when creating your pricing strategy, and you should be flexible and adaptable as the market changes and demand fluctuates.What pricing strategy should you choose for your business is not a formula, but numbers help ? Don't price to please, price to match your performance, experience and worth.” Ned Bryan AbakahWhat nextYou do not have to worry about making this decision alone! Contact us to see how we can help. Our FREE online calculator will help you determine which pricing strategy is right for your business. Just click here now to get started!Listen now and Subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast!Click here for more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

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 importantly it affects how you are paid, and your obligations pertaining to paying taxes.The two main ways that you will earn money in your life. Either as worker/employee or running your own business. You run your business as a sole trader or as limited company or mix and match them. Check out previous podcast episodes.My focus for episode 56 of I Hate Numbers is personal service companies, and your status, and tax. Where your business provides services, for example training, accounting, consulting, IT then you have a personal service company. If you sell products, then you do not have a personal service company.Listen to find out more!Why your status situation with your company is important.Firstly, why is it relevant. I don’t mean are you cool, an upright citizen. More importantly, status is about whether you provide your client services as a worker or self-employed. Is this a contract of service or a contract for services?Above all, remember, this is a three-way relationship, nothing dirty mind you. You do the work; your company invoices your client, and your client pays your company.The gig economy, high profile cases like Uber have been about worker or self-employed status. Uber ended up at the Supreme court, it did not go Uber’s way, and Uber drivers were classified where they had been previously considered to be self-employed. One consequence is more tax money to the government, and less for Uber.Your status decides your rights responsibilities, and more crucially, how much tax the government will collect and who calculates and pays it. Status tests have been here for an age.   Calling yourself self-employed not going to cut the mustard.In other words, if a contract for services, then your invoice is paid gross. In addition you have got greater opportunities for saving tax and tax planning.Listen to find out more!What does self-employed mean.In normal everyday language it means working for yourself, being your own boss. However, we are not talking about normal folks, we are talking government and tax. There is no statutory definition of self-employment. Over the years case law has given us badges of trade. By badges, I am not talking about what you may get at school.Listen to find out more.What it is IR35 all about IR 35 deals with how tax applies if your company falls within its definition. What would the relationship between you and your client be if your company wasn’t there, worker or self-employed?.IR35 deals with personal service companies, it has been with us in the UK since April 2000, other countries have similar.The major change in IR35 is that there is no change in IR35. It’ a question of who makes that judgement call on your status. Public sector bodies have been making this decision since 2017. From the 1st of April 21 medium to large private companies now make that call, if your client is small you make that assessment.  If you want a more detailed look at IR35 then check our video, subscribe so you don't miss an episode.Listen to find out more!.What nextYour tax and status situation with your company impacts heavily on how much your earn and the tax you pay. Check your status using HMRC CEST tool. Moreover, treat with caution, there are flaws. Use our FREE online business and tax calculators to help make better business decisions.Subscribe so you do not miss an episode of I Hate Numbers.. For more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/  

How the 2021 Budget affects your business.Whether you are self-employed or running a company, there is something in here that will help answer your questions.Listen to find out more!Rishi Sunak, the Chancellor has spoken and presented his 2021 Budget.I know it can be hard to understand what this means for your business, so we have put together a quick guide on what you need to know about the budget and how it will affect you.This week on I Hate Numbers, I’m looking at his Budget and the Self-Employed Grant and what it means for your business. I'll also be talking about the Furlough Scheme and changes to that, as well as new Kickstart Grants.I will cover tax rates and allowances for companies, self-employed people, and the Super Investment Scheme too - so there will be something in this episode of I Hate Numbers for everyone!Let me help you understand How the 2021 Budget affects your business now and going forward. Listen to this jargon-free podcast to understand the budget headlines!What is the backstory to the 2021 Budget?Firstly, it was no shock to know that COVID-19 would feature prominently. Secondly some eye watering numbers. Those numbers in billions for the Self-Employed Grants, Furlough, Universal Credit, and other Grants. Lastly, the state of the UK economy now and in the future.Above all , does it matter? Absolutely! You and your business need to understand the landscape, when you plan, and move forward. Cash flow is vital to keep your wheels turning.The 2021 Budget includes a lot of changes to taxes, and financial support programs, that will affect your business.Listen to find out more!What are the 2021 Budget highlights? Income tax rates have not changed, certainly not at this stage.Corporation tax rates set to rise in the future, but not for all companies.Tax allowances are effectively frozen for the next few years. This means tax rises for you over the next few years.Super Investment allowances introduced for capital investment. It is only for companies, and not on everything you buy for your business.Self Employed Grant. Details on the fourth, the same rules as Grant number Three. We got an overview of the fifth and final grant . My prediction for the changes turned out to be correct. An extra 600,000 people now become eligible to claim the Self-Employed Grant. Thanks for listening Rishi.Furlough Grants. Changes announced for May 2021 onward. These changes affect how much you claim, who you can claim for and how much it will cost your business.It was tough gig for Rishi and whether he deserves rotten tomatoes or a well done is a debate for another day - between me and you, rotten tomatoes seems to be the common reaction.In the words of Laura Kuenssberg "Business will, in time, pay billions more. More than a million people will have to start paying income tax, and a million extra will pay at a higher level"Subscribe so you do not miss an episode of I Hate Numbers. Use our FREE online business and tax calculators to help make better business decisions. For more business and finance, news, advice and tipsLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

How you calculate your pricing ratesHow you calculate your pricing rates is vital for your business. Why should that be so? Firstly, it helps you achieve your goals. Secondly, it sends a message to your clients about you and your business. Above all, your pricing is there to make you profit. Moreover, it goes towards building you a sustainable, giving you time, choice, and freedom.The podcast is part of my mission to help you get closer to your numbers, to appreciate the power of what those numbers can do. Improve your money mindset, help you make more profits, save taxes, and help you have the business you want and deserve.Listen to find out more.Pricing products and servicesPricing products and services share some things in common. For example, purpose, numbers, and psychology. There are also big differences. This episode is about services, a future podcast will talk about pricing your products. Still some great takeaways in this episode, whatever your sell.Listen to find out more.How to choose the right price.You pricing will be between the ceiling and the floor. The ceiling is the most represents the maximum price that your customer will pay based. When it comes to the floor, that is the minimum you charge customers.Your business purpose and goals, numbers, and psychology all play their part in How you calculate what to charge for your services. One size doesn’t fit all and you will have a range of prices to suit you and your customers – if you don’t, you should do.Listen to find out more.Your numbers are important.Firstly, let us look at some key numbers you need to get hold ofHow much time do you have available? Your time spent on marketing, accounts and admin needs to be considered. How many weeks will you be working? Lastly, don’t forget your costs and how much profit do you want to make?Listen to find out more.Pricing CalculatorUse our FREE and easy to use online calculator to see How you calculate your pricing rates . Let our calculator take on the heavy lifting of the number crunching. Our beautiful calculator shows you quickly what rates you should charge. It shows you a floor price, and one with your target profit in mind.Type in your numbers to our calculator. See what the numbers say for your pricing.Use the sliders to see the effect of changing time and money! We have got you covered with other calculators. For example, profit margin, discounting and break even.Subscribe so you do not miss an episode of I Hate Numbers. For more business and finance, news, advice and tipsIn This EpisodeAppreciating that pricing is multi-dimensional.Being aware that you need to know what your purpose and goals are.Understanding how your capacity and availability affect what you charge.Learning about the part that costs and profit play in pricing decisionsTips to share and jargon free talkDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thrive.Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Your gross profit and business decisionsThere are so many needed, powerful and insightful business decisions you need to make. You can’t do that unless you know some key financial numbers. Gross profit is one of them.What sort of decisions, let’s list a fewBreak even. How much you need to sell to cover costs, meet your financial targets, your safety cushion.How much you should charge your customers? Pricing your products and services. In addition, pricing and gross profit go hand in hand.Outsourcing decisions. Should you or shouldn’t you. Cost versus benefits, the numbers side needs, you guessed it….Controlling and managing costs. Better margins come from increasing your selling price, reducing waste, improving processes, better buying.Cash flows. Stronger gross profits equals stronger cash flowsListen to find out moreYou manage what your measure.Let’s get serious. If you don’t go digital, embrace cloud accounting then running your business just became a whole lot harder.If you’re serious about your business, and don’t see it as a hobby then go cloud. The tedium, cost, and inefficiency of alternatives is too painful to think about.FREE online calculatorsMost of us want to sell more, make more profit, who wouldn't ?Knowing what your costs, mark ups and margins are, and need to be is one way.Our FREE profit calculator shows you what gross profit you are making now. What gross profit you could make if you altered selling price and costs.We have other FREE profit and business calculators for you to use. Type in your numbers and see what the numbers show for your business.ConclusionWhy Gross Profit is a big deal for your Business for all the reasons listed above. Ignore it at your peril.The podcast is part of my mission to help you get closer to your numbers, to appreciate the power of what those numbers can do. Improve your money mindset, help you make more profits, save taxes, and help you have the business you want and deserve. Get in touch with us to see how we can help you with your accounting and business needs.Subscribe so you do not miss an episode of I Hate Numbers. For more business and finance, news, advice and tips In This EpisodeAppreciating that your business health needs a financial barometerBeing aware that pricing strategies, what to charge is tied in with your gross profitUnderstanding how to calculate gross profitLearning about key business information and decisionsTips to improve your margin.Developing your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thrive.Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

Why Working Capital is Important for Your Business is episode 52 of I Hate Numbers podcast.The podcast is part of my mission to help you get closer to your numbers, to appreciate the power of what those numbers can do. Improve your money mindset, help you make more profits, save taxes, and help you have the business you want and deserve.Firstly, let me tell you what is in his week’s episode.What working capital isExplain how you calculate itWhy Working Capital is Important for Your BusinessTips to improve and manage your working capital.Why Working Capital is ImportantNo business in the world has ever made more money with poorer management – Bill TerryImagine your business as a car. Your car could be a beautiful piece of engineering. However, unless you have fuel to power your car it is a useless vehicle.Your working capital is the fuel equivalent in your business, it powers your business, and keeps it business going. It is your short-term funds that pays your bills, pay yourself, buy more stuff, service loans. You get the picture.Listen to find out more.What is working capitalFirstly, your business will have items of short-term value, current assets. Your current assets will be products you have not yet sold, or projects or services not completed. In addition, you will have unpaid customer accounts. Lastly you will (hopefully) have money in your bank account.Those items are called inventories, receivables, and cash. In old money, that’s stock, debtors, and cash.Furthermore, you will have current liabilities, such as unpaid supplier bills (payables) and short-term loans. In old money that’s creditors.[table id=32 /]Your business should have more current assets than current liabilities. Above all, you need to minimise your money tied up in your current assets, maximise the credit terms given by your suppliers. Be careful that you maintain good relationships with your suppliers and pay your bills on time. Also make sure you can manage and track this with good accounting systems.If you have topics you want explored in future episodes, then let me know. The show is there to help you improve your money mindset, make money, survive, and thrive and give you the business you want. Get in touch with us to see how we can help you with your accounting and business needs. Subscribe so you do not miss an episode of I Hate Numbers. For more business and finance, news, advice and tipsIn This EpisodeAppreciating that your business needs sufficient working capital.Being aware that your money is tied up in your customers and inventories.Understanding that product and service businesses have inventories (stock)Tips to improve your working capital.Developing your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thrive.Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

How to Diagnose Business Failure is episode 51 of I Hate Numbers podcast. The podcast is part of a wider mission. It's to help your business improve your money mindset, get closer to your numbers, make profit, survive, and thrive.Firstly, in last week’s episode we looked at one way of looking at business failure. Secondly, the words poor and leadership were common factors.Why diagnosing Business Failure is important Running your own business is risky. Above all spotting and assessing business failure gives us insight, strength and purpose.  Certainly you get to understand your own strengths and weaknesses, and those of others.We can use this approach looking at our own business, as well as other peoples.Listen to find out more.How to develop a business framework. Numbers are not everything. Your numbers help paint a story but can’t paint your complete story. We dive into performance management and look at the Argenti framework.The Argenti approach looks atDefects leading toMistakes leading toSymptoms of FailureDefects are about management weaknesses and accounting deficiencies. Your mistakes are typicallyOver tradingGearingBig projectsListen to find out moreMost importantly, How to diagnose Business Failure helps you figure out your solution.In this episode we see that growing is not always good. As a bonus check our free online break even calculator.If you have topics you want explored in future episodes, then let me know.To sum up, the show is there to help you improve your money mindset, make money, survive, and thrive. Get in touch with us to see how we can help you with your accounting and business needs. Subscribe so you do not miss an episode of I Hate Numbers. For more business and finance, news, advice and tipsListen to find out moreIn This EpisodeAppreciating that diagnosing Business Failure helps you fix itBeing aware of the practical application of the Argenti frameworkUnderstanding what mistakes, defects and symptoms of failure areSeeing that growth isn’t always positiveDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

Why Your Business May Fail is episode 50 of I Hate Numbers podcast. The podcast is part of my mission to help your business improve your money mindset, get closer to your numbers, make profit, survive, and thrive.Firstly, the motivation behind the choice of topic. My business birthday of 26 years, birthdays are a period of reflection. Secondly, I have made bad mistakes over the years, not always taken on board the advice that I share.What are the four main reasons behind business failure?In the words of Winston Churchill “Success is not final; failure is not fatal: it is the courage to continue that counts.”I look at four areas as to Why Your Business May Fail, being poor with them is a common theme. For example, mindset and money invested and spent in the right way will all be relevant.In this podcast I showcase some examples.Listen to find out more.Why knowing what causes business failure is important to know.Firstly, when your start your business Failure is not your objective. Secondly, knowing Why Your Business May Fail, such as cash flows helps us prevent it.In conclusion the solutions are easier to figure out once you know the causes.If you have topics you want explored in future episodes, then let me know. The show is there to help you improve your money mindset, make money, survive, and thrive and give you the business you want. Get in touch with us to see how we can help you with your accounting and business needs. Subscribe so you don't miss an episode of I Hate Numbers. For more business and finance, news, advice and tipsIn This EpisodeAppreciating that Business Failure happensBeing aware that understanding is half the battle to getting solutionsUnderstanding the common reasons why your business may not succeed.Examples of what factors contribute to business failureDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

What is your Profit for Tax is this week’s I Hate Numbers podcast theme. Last week we looked at how you should budget for your tax bill.Firstly, your money in your bank account is not the same as your tax profit. Secondly, your accounting profit is not the same as your tax profit. However, they are both important numbers. It may sound confusing.Listen to find out more.How the tax authorities look at your businessIn the words of Mark Twain "I shall never use profanity except in discussing house rent and taxes."Firstly, when you look at how your business is performing, then profit is still a key financial measure. Secondly, you consider what you are doing to generate and earn those profits.For example, money invested and spent on training, equipment looking after your customers and suppliers will all be relevant.The tax authorities in the UK look at things differently. They are not entirely interested in how your business is performing. It’s tax they want to collect, and they have a different rule book to go by.In this podcast I showcase some examples.Listen to find out more.Why your tax profit is important to knowTax is an expense, and it is one you need to plan for an be aware of. How you calculate it is what we looked at last week.In conclusion the numbers are easier to get your head around, once you know the reasoning. Let me tell you, there is reasoning,Want a quick and easy way to know how much to pay? Use our free tax calculator, designed for the self-employed and companies? Get in touch with us to see how we can help you with your accounting and business needs. Press subscribe so you don't miss an episode of I Hate Numbers. For more business and finance, news, advice and tips.In This EpisodeAppreciating What is your Profit for TaxBeing aware of how your accounting profit is calculated.Understanding why your profit for tax is different to your business profitExamples of how different costs are dealt with in the accounts and for taxDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/

How you should Budget for your Tax Bill is this week’s podcast theme.  If you are self-employed, a freelancer, run your own business then you have responsibility for your own taxes.You do not have an employer who takes care of that for you.  When you are self-employed you must keep records, work out your tax profit, complete a tax return and then pay over the tax that is due.  It sounds exhausting and stressful.Listen to find out more.How good record keeping helps you keep on top.Firstly, you need to know what you are spending and what you are selling.  Secondly, if you want to know much tax you will pay, you need to know how much profit you are making.  To do that, you need a good record-keeping system.There is one real option these days, and that’s Cloud Accounting.  Knowledge is power, and that power is unleashed when you embrace the world of Cloud Accounting.  Click here to get our free guide.In the words of Dee Hock “Making good judgments when one has complete data, facts, and knowledge is not leadership - it's bookkeeping.”Your gut feeling for making decisions is important, but gut feeling alone is bonkers.  Facts and good information are what drives effective decision making.  To have good information you need excellent record-keeping systems.Listen to find out more.How to calculate how much tax to payThe amount of tax you pay is based on so many variables.  These include how much profit you make, allowances, reliefs, other income you may have, your personal circumstances.  You get the picture.In this podcast, I share with you tips on how to do this quickly and easily.Listen to learn more.Want to learn more and want a quick and easy way to know how much to pay? Use our free tax calculator, designed for the self-employed and companies?  Get in touch with us to see how we can help you with your accounting and business needs. Press subscribe so you don't miss an episode of I Hate Numbers.  For more business and finance, news, advice and tips.In This EpisodeUnderstanding How you should Budget for your Tax BillGet some great tips to figure out how much tax to save.Appreciating what part your mindset plays in budgeting for your tax.Being aware of what your tax bill is based on.The importance of keeping good records.Developing your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/ 

How Information and Communication helps Build your Business Resilience is this weeks theme. Last week’ we looked at what Business Resilience was, and how your leadership plays a big part.Listen to find out moreHow Information helps Build your Business ResilienceFirstly, we looked at the three parts of business resilience. Leadership information and communication. Further to that, and in addition we talk about information and communication in this episode of I Hate Numbers. To clarify, you as business owners are leaders in your own business.Your gut feeling for making decisions is important, however, gut feeling alone is bonkers. Above all facts and good information drives effective decision making. Good information needs excellent record-keeping systems. You also need to that ability to understand, use and apply that information.Listen to find out moreWhy Communication helps Build your Business ResilienceIn addition, your communication is the last part of your Business Resilience. How you communicate with your stakeholders, what to say, and how to say it is key.What is good communication and why is it a key part of Business Resilience. Certainly, these questions and more are dealt with in this podcast episode.Listen to learn moreIn conclusion, we have seen what makes up your Business Resilience. To sum up, it's your leadership, information and communication. In short, it is not too late to learn and develop this for your business.Want to learn more? Check out our Business Growth Club to move your business forward.In This EpisodeUnderstanding the importance of Information for your Business ResilienceAppreciating what good information is, and how to get itBeing aware that effective communication is vital for your businessWhat does good communication look like in your Business?Developing your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/  

How to Build your Business Resilience - Part One. That is the theme of episode 46 of I Hate Numbers.Certainly, a lot of people talk about Business Resilience. Firstly, we need to understand what Business Resilience is. Secondly, we need to know how we can improve our own Business Resilience.  Most importantly, you can improve this, and it is a practical way to deal with what faces you in a changing business landscape.Listen to find out moreBusiness Resilience and your Leadership Firstly, there are three parts to Business Resilience. Leadership information and communication. In this episode, I am going to be focusing on leadership. That is, you as a business owner, leading your business.You need to be a good leader of your own business. Great is excellent, good is a great start point.Leadership means being able to review a situation objectively. , and not getting deflected by.Great leadership means taking lessons from what is going on, learning and being prepared for the next time. This is the ultimate, an ideal time to learn.Now, unless you ask yourself this question as a leader, are you developing the right culture, the right environment in your business where you can learn, take lessons, prepare and equip yourself ready for the next situation.Action beats inaction. For example, in this episode we look at gazelles and lions. Most importantly you need to be gazelle or a lion, in your business. Above all, take the opportunity to strengthen your leadership, to drive your business forward.Above all, it does not matter whether you are a multinational or SME business. You are the leader; you are the one who drives the business forward.Listen to learn moreConclusionCheck out our Business Growth Club to move your business forward. We will show you How to Build your Business Resilience and grow your business. How to Build your Business Resilience - Part One deals with Leadership. Next week’s podcast we look at information and communication as vital parts of Business Resilience.In This EpisodeUnderstanding what Business Resilience means in your businessAppreciating the importance of your leadership as a business ownerBeing aware that you need to take action as a leaderDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/