Should I get myself a company car?

It’s Friday night and you’re in the pub after work for a drink (remember those?). Your friend is on about their brand-spanking new BMW 3 Series with the heated seats and fancy alloys. “Yeah it’s part of the perks of becoming Operations Director”, they say. Meanwhile, you’re thinking of your old, tired-looking motor parked on…

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How much does profit first cost?

Now comes the annoying answer – it depends. So allow us to take you through our process when pricing for an engagement. Firstly, we have to make sure we’re a good fit for each other.  So we’ll initially spend 10-15 minutes on a call with you exploring key factors such as: Your ambitions for the…

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How can I pay less tax?

It doesn’t matter whether you’re a seasoned employee or a fresh-faced apprentice; it’s always crushing to see how much tax has been taken from your monthly payslip. The looming spectre of the Taxman has even made it into popular culture, with both The Beatles and The Kinks once taking a swipe (although with the size…

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Should you pay yourself a salary or dividends?

It’s the age-old dilemma that puzzles business owners around the world and is a question we often receive from clients. Should you pay yourself a salary or dividends? Whether you’re running a small company or you’re a sole contractor, it’s going to be a question you’ll have to answer. Of course, there’s pro’s and con’s…

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How good is Xero/ what are the problems with Xero?

Now we love Xero. A bit strong maybe, but we decided some time ago that we were going to be a 100% Xero practice. Mainly due to the fact that we wanted to be really, really good at using just one accounting package which we could heartily recommend to our clients.

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Hardwiring profitable habits – with a moustache?

One of my inspirations is Pete Adeney, aka Mr Money Moustache. Having retired at the grand old age of just 30, he’s since started a personal finance blog. How did he do it? By saving hard and planning effectively. His website is massively popular and now extends far wider than personal finance, encompassing issues such…

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The company car is back! Temporarily.

For some years, you could be forgiven for thinking that the government didn’t want people to have company cars. The benefit in kind (BiK) tax rates on company cars have steadily been hiked and now are as much as 37%. A mid-range BMW 3 Series could cost £400-£500 a month in tax alone. Electric cars…

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Prepare for the storm

Goodbye 2020! Good riddance. 2021 can’t get any worse so here’s to the good times! Not. So. Fast. 2021 could be the start of the roaring twenties, and the mood amongst our clients is impressively upbeat. I however prefer to temper optimism with a clear-eyed view of the difficulties facing us. This view is perhaps…

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The best UK bank accounts for Profit First

To maximise the return from Profit First, it’s generally required to set up a number of different bank accounts in order to allocate the cash received. This can present a challenge owing to the monthly fee most UK banks charge for using their accounts. One of the principles of Profit First is frugality, so if…

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