Ridgefield Consulting's Accounting Advice: Recent Episodes
Ridgefield Consulting
Ridgefield Consulting bring you exciting new audio articles covering the most talked about topics from our website. The articles, read by our very own team, provide an insight into the hot topics our clients often ask about, in an easy to listen format that you can take anywhere! For more content, we regularly update the 'advice and news' page on our website with the latest accounting news.
More and more of us are earning extra money on the side, whether it's out of need or for personal enjoyment; but do you know that this may mean having to pay more income tax? In this episode, Lauren explains how HMRC will seek to tax those who make extra income from hobbies or side hustles.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-hmrc-taxes-hobbies-and-side-hustles/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
Social media influencing and content creation has fast become a lucrative career. If you're working in this sector, then be sure you understand the rules on how to declare your earnings which may need to include any free promotional gifts you receive.
This podcast episode will serve as a guide to influencers, bloggers, vloggers, content creators and everyone else in between on how HMRC will expect you to report your income.
Access our full article which is updated regularly: https://www.ridgefieldconsulting.co.uk/tax-guides/how-social-media-influencers-and-content-creators-are-taxed/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
Going through a divorce or separation is challenging enough as it is, but when you inevitably have to deal with the financial aspect, it can add another level of complications. This podcast episode from the team at Ridgefield Consulting explains when a tax liability may arise and what the rules are for dealing with them.
Access our full article:https://www.ridgefieldconsulting.co.uk/tax-guides/will-i-have-to-pay-tax-when-i-get-divorced/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
If you've been investing in research and development for the past few years, or you're considering a research and development project for the first time, then be aware of the big changes that came about in 2023. Not only did the Chancellor change the process of applying, he's also changed how much you can claim and on what. In this episode, Lauren will cover the key changes.
Access our full article which is updated regularly: https://www.ridgefieldconsulting.co.uk/tax-guides/2023-rd-tax-credits-changes/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
For any aspiring entrepreneurs, listen to this episode for a step by step guide on everything you need to know on how to set up your own limited company. Ellie will go through the different options available to you as well as share essential need-to-know information for before you get started.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-set-up-your-own-limited-company/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
Could you really make more rental profit by owning investment through a limited company? Well, the answer is, it depends. In this episode, Ellie weighs up the different scenarios and explains in what instances you could make a lot more through owning your property portfolio through a limited companies, as well as warns you of some potential downfalls.
Access the full article which is updated regularly: https://www.ridgefieldconsulting.co.uk/tax-guides/buying-property-through-a-limited-company/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
There are pros and cons to becoming VAT registered, but ultimately, if you're looking to grow your business then learn how you can take advantage through voluntary VAT registration. Lauren explains how.
Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/voluntary-vat-registration/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
If you're thinking about whether you can afford to hire employees for your business, then listen to this episode to find out about employment allowance. Kizzy explains how it works and how much you could claim.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-claim-employment-allowance/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
Want to find out how you can lower your corporation tax bill whilst keep your employees happy? Did you know that there are select salary sacrifice schemes which are approved by HMRC which means they do not attract P11d tax unlike other workplace benefits? In this episode, Kizzy goes over the different available schemes you can use and how they benefit both your business and your employees.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-use-salary-sacrifice-for-your-business/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
In this episode, Simon explains what tax relief is available if your sole trader business hasn't gone as well as planned. When you make a loss, you can claim tax relief. Simon will outline the rules when it comes to offsetting loss in the current tax year, carrying it forwards, or carrying it back.
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
In this episode Kizzy explains how a company director can withdraw cash from their limited company through dividends. She'll go through a step by step guide as well as go over the pros and cons of issuing dividends.
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter
In this episode Kizzy talks about different ways you can donate to charity and how it will help you reduce your tax.
Donating to charity is not always seen as a conscious tax strategy, but can be a very efficient way to reduce your tax payments. Learn how to use three different methods of donating to charity and how it will help you save on tax.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode Kizzy talks about whether or not you have to pay tax on your pension.
Learn about two different types of pensions, when you can start receiving your pension and how much you'll be taxed on it.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, Bryn explains what R&D tax credits are and how small to medium sized enterprises can claim them to make their funding for innovative projects go further.
We go through different scenarios for loss making and profit making companies so that you can understand how much you could receive from claiming R&D tax credits. Bryn also explains the process for how to claim as well as what to do if you find yourself ineligible.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode Ellie shares the team's top ten tax saving tips for self-employed mums.
Being a mother is hard enough work with plenty of jobs to do, but if you're also running your own business then some advice on ways you can save on tax will really help you boost your finances.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode Shameem talks about what happens when you want to close down your limited company and what tax will need to be paid.
Learn the best way to close down your solvent limited company if you no longer want to trade through it any more. We explain two different methods you can use and how they will effect your final tax payments.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s podcast on a tax guide to furnished holiday lets. In this episode, Kizzy will be explaining all the ways you can save on tax when it comes to your furnished holiday let. Kizzy will also explain how tax on furnished holiday lets is different to buy-to-let properties which will allow you to decide which would be the better option for you.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s Accounting Advice podcast. We’re an independent firm of Chartered Accounts and our team have created this podcast to share free expert advice, provide practical tips to save on tax and offer explainer guides so you can take control of your own tax and accounting matters.
In this episode, Simon explains how to use the Seed Enterprise Investment Scheme (SEIS) for your limited company. He’ll cover the entire process from beginning to end, as well as explain why you may want to apply for Advance Assurance and how investors will benefit and why they may want to use SEIS to invest in your company.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s podcast episode on claiming Married Couples Allowance. Nisali talks you through two different types of tax relief available to married couples and civil partners. With so many families in the UK relying on a primary or sole income earner for the entire household, this episode will teach you how to make your household income go a little further.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s podcast on how to run your own payroll for a limited company. In this episode, Amelia who is our Payroll and Pensions Manager, will explain step by step how to run a payroll if you're doing it by yourself.
Not only that, but Amelia will also remind you of what annual obligations you'll have as part of running your own payroll.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s podcast on how to make use of 10 annual tax allowances. In this episode, Caroline will be covering everything you need to know about how making use of these 10 tax allowances can help you reduce your tax bill.
There are many ways you can be smart with your money. Making full use of tax allowances is one. In this podcast, we guide you through ten possible allowances for you to take advantage of.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, we will be covering everything you need to know about what a benefit in kind is to how to calculate what tax you will need to pay on it.
If you receive any other benefits as part of your employment in addition to your salary, it may be the case that you are receiving a benefit-in-kind also known as a BIK for short. You might see it as a workplace perk, or sometimes they’re referred to as fringe benefits, but what you need to be aware of, is that although they can seem like a nice added bonus, they may not necessarily come for free.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, we will be covering the 10 best ways to help you reduce any capital gains tax bill you might have.
You can incur a Capital Gains Tax or CGT for short when you dispose of a valuable asset that has increased in value. This includes selling it and making a gain, gifting or donating it, exchanging it for something else or receiving compensation due to the loss, theft or damage of the item. You do not need to pay CGT on disposals that have not resulted in a gain.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
Welcome to Ridgefield Consulting’s podcast on how you are taxed when you have 2 jobs. We’ll be covering everything you need to know about how you will be taxed when you have more than one job.
It’s not uncommon for people to have more than one job at the same time. When this applies to you, it’s important to understand how you’re being taxed so that you can ensure you are not paying too little or too much tax. If you’re already employed by an employer, you should have been added onto their pay as you earn system, also known as PAYE through a new starter checklist. By doing this, it means that your employers become responsible for deducting the correct amount of income tax direct from your salary including National Insurance contributions and pension contributions when you’re automatically enrolled onto a workplace pension scheme.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, Simon Thomas, Ridgefield Consulting's Managing Director talks us through the difference between a director’s salary and dividend.
He also gives some great tips on what he believes is the best way to pay yourself when you are a director of your own company.
If you have any questions, please don’t hesitate to get in touch.
In this episode, Caroline will be covering everything you need to know about how to register yourself as self-employed with HMRC. She will begin by discussing what being self-employed means to how and when you need to register yourself as self-employed.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In the episode, Shameem explains everything you need to know about capital gains tax. Starting with what capital gains tax is to how to reduce your capital gains tax bill.
Capital Gains Tax or CGT for short is a tax charged in the UK when you make a gain as a result of disposing of belonging or asset. The term ‘disposal’ is used because you can incur CGT not only when you sell something but also when you give it away as a gift, swap it for something else of higher value or receive compensation for it due to loss, theft, or damage.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, Nisali is discussing how VAT works. She covers everything from what VAT is to how and what VAT is charged on.
If you are unsure if and when you might need to pay VAT this episode should help clear everything up. If you are still unsure after listening please don't hesitate to get in contact.
In this episode of Ridgefield Consulting's Accounting Advice podcast, Tim talks through everything there is to know about buying a car for your business. We cover everything from buying a car for personal use to buying a pool car or company car for your business.
It's a jam packed 8 minutes so take a seat and get ready to learn all you need to know about buying a company car through your own business.
In the episode Kizzy explains everything you need to know about claiming tax relief when working from home.
Whether you're a sole trader, company director or employee, there are tax reliefs available if you work from home to help cover the additional costs incurred. So, grab a drink and settle down for the next episode of Ridgefield Consulting's Accounting Advice podcast - claiming tax relief when working from home.
In this episode, Simon Thomas, Ridgefield Consulting's Managing Director, sits down with our Innovation Funding Lead, Bryn Richards to discuss everything that's going on in the world of R&D tax credits.
Now more than ever, businesses need all the financial support they can get with the economy trying to recover from the impact of Covid-19. Many business are facing hard times but still aren't aware of the financial aid thats available to most businesses in the form or R&D tax relief.
So, take 20 minutes and grab a tea or coffee to listen to Simon and Bryn giving some practical advice on how to harness this tax relief scheme from the government to maximise your businesses investment in research and development.
Every business registered in the UK will have to pay Corporation tax on their profits but there lots of ways to reduce your tax liability, legally.
In this episode, Nisali covers our top ten ways to reduce your corporation tax bill, whether you are the businesses only employee or is you have hundreds of employees.
At Ridgefield Consulting, we pride ourselves on supporting our clients to make sure they pay the correct tax whilst making use of all the relevant tax reliefs so they do not have to over pay.
We regularly share the latest tax and accounting advice on our website. The full article from this audio article can be found on our 'advice and news' page linked below:
https://www.ridgefieldconsulting.co.uk/advice-and-news/10-ways-to-reduce-your-corporation-tax-bill/
Benefits in kind are often additional incentives that an employer may offer their employees alongside their basic salary. However, not everyone knows that these benefits can be taxable if they don't meet certain criteria.
In this episode of Ridgefield's Consulting's Accounting Advice, Nisali talks through everything you need to know about benefits in kind as either an employer or an employee.
For more content like this, check out our other audio articles or visit our 'Advice and News' page on our website:
https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode Nisali explains everything you need to know about tax for family businesses to make sure you maximise the benefits of your tax allowances and reliefs.
Running a business with family members can offer lots of benefits but there are also certain rules you need to consider. In this session we cover the tax rules and incentives for employing your spouse or children and an extra tip for how to optimise your costs when employing family.
For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/
In this episode, Shameem explains how to use R&D tax credits together with grants.
R&D is an important part of many company's business plans as they look to develop a unique advantage over your competition. However, many people get confused when trying to claim R&D tax credits alongside business grants so we've taken some time to explain in this audio article.
For more articles like this, check out the 'advice and news' page on our website:
https://www.ridgefieldconsulting.co.uk/advice-and-news/