Ridgefield Consulting's Accounting Advice

Tax guide on buying investment property through a limited company

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-comp...

Step by step on how to set up your own limited company in the UK

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' ...

What are the 2023 R&D Tax Credits changes?

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-cr...

How to claim employment allowance

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 e...

How to use salary sacrifice for your business

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-g...

How voluntary VAT registration can benefit your business

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 ...

How to take out dividend from a limited company

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. Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-take-out-dividends-from-my-limited-company/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guid...

What to do if you missed the tax deadline

In this episode Nisali helps you understand what will happen if you miss the tax deadline. She'll cover issues such as automatic penalties, how you can appeal to do, what to do if you cannot afford to pay as well as some tips on how to avoid missing the tax deadline again. Please note that our article versions are regularly updated so you may want to check for the latest rates, thresholds and allowances: https://www.ridgefieldconsulting.co.uk/tax-guides/what-to-do-if-you-miss-the-tax-deadl...

10 Advantages of completing your tax return early

In this episode, Ellie shares 10 tips on why there are advantages to completing your tax early. From practical advantages such as avoiding fines, maximising tax strategies, and securing a mortgage, to more personal benefits such as not feeling stressed, having to waiting on a call queue and being able to budget better. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/advantages-of-completing-tax-return-early/ For more content like this...

How to get tax relief for trading losses when you're self-employed

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-get-tax-relief-for-trading-losses-when-youre-self-employed/ For more content like th...

How to spread out your personal tax bill payments

In this episode, Kizzy explains the different ways you can split up your income tax bill throughout the year to help you pay for the total bill come 31st January. Spreading out the costs can make paying for your tax much more manageable. Learn about the ones that you can arrange yourselves, and the ones that HMRC will automatically enrol you onto so that you're not caught out. Please note that our article versions are regularly updated so you may want to check for the latest rates, thresho...

3 Different ways to donate to charity to reduce your tax

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/3-different-ways-to-donate-to-charity-to-r...

Do you have to pay tax on your pension?

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 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

Do you have to pay tax on your pension?

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/do-i-have-to-pay-tax-on-my-pension/ 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...

How to claim R&D Tax Credits

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. Access the full article which is regularly updated: http...

Top 10 tax saving tips for self-employed mums

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/top-10-tax-saving-tips-for-self-employed-mums/ For more content like this, visit the 'Tax Guides' page on o...

What tax needs to be paid when you close down a limited company

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. Access the full article which is regularly updated:  https://www.ridgefieldconsulting.co.uk/tax-guides/what-tax-needs-to-be-paid-when-you-close-down-a-...

Marriage Allowance

How You Are Taxed When You Have More Than One Job

In this episode, Poppy explains how you're taxed if you have more than one job. Many people wonder if they are taxed more if they have multiple jobs, so we bust the myth and clarify on what is really going on with your tax. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/how-youre-taxed-when-you-have-more-than-one-job/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-gui...

Marriage Allowance and Married Couple's Allowance

In this episode Nisali explains how marriage allowance works and how it is different to the Married Couple's Allowance. Find out why it's worthwhile to claim if you're looking for ways to make your money go further as a couple. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/marriage-allowance-married-couples-allowance/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-gu...

Tax Advice For Family Businesses

In this episode, Lenka explains the tax rules when running a family business. It can be beneficial to run a business together as a family to keep money within the same household, but make sure you follow these rules. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/tax-benefits-for-family-businesses/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/ Sign up to our...

Tax On Furnished Holiday Lets

In this episode Poppy talks about the different taxes that are charged on furnished-holiday-lets compared to buy-to-let properties. Find out which type of investment would be better for you based on tax treatment alone. Access the full article which is regularly updated:  https://www.ridgefieldconsulting.co.uk/tax-guides/a-guide-to-tax-on-furnished-holiday-lets/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/ Sign ...

The Difference Between Directors' Salary And Dividends

In this episode Poppy talks us through the difference between a director’s salary and dividend. She 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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/directors-salary-or-dividends/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/ Sign up t...

10 Ways to Reduce Your Corporation Tax Bill

In this episode, Poppy shares her top ten tips for reducing your corporation tax if you run a business through a limited company. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/10-ways-to-reduce-your-corporation-tax-bill/ 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.ridg...

How To Run Your Own Payroll

In this episode, Poppy provides guidance on how to run a payroll yourself for your business if you have employees. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-run-and-manage-payroll-for-your-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.ridgefie...

10 Ways to Reduce Your Capital Gains Tax

In this episode, Kizzy offers 10 top tips to reduce your capital gains tax if you've disposed of assets and have made a gain. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-reduce-your-capital-gains-tax/ 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.ridgefieldconsul...

How to Make Use of 10 Annual Tax Allowances

In this episode. Simon shares 10 annual allowances that not everyone may know about to make full use of in order to save on tax. Access the full article which is regularly updated:  https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-make-use-of-10-annual-tax-allowances/ 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.ridge...

How to use the Seed Enterprise Investment Scheme (SEIS) for your limited company

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 ...

Tax on Furnished Holiday Lets

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/adv...

How to use the Seed Enterprise Investment Scheme (SEIS) for your limited company

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 ...

Married Couples Allowance

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...

How to run your own payroll

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-n...

How To Make Use Of 10 Annual Tax Allowances

Welcome to Ridgefield Consulting’s podcast on how to make use of 10 annual tax allowances. We’ll be covering everything you need to know about how making use of these 10 tax allowances can help you reduce your tax bill.  For more content like this, visit the 'advice and news' page on our website: https://www.ridgefieldconsulting.co.uk/advice-and-news/ 

How To Make Use Of 10 Annual Tax Allowances | Ridgefield Consulting

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...

Tax On Benefit In Kind

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...

How To Reduce Capital Gains Tax | Ridgefield Consulting

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 cont...

How To Reduce Capital Gains Tax

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 cont...

How You Are Taxed When You Have 2 Jobs

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...

How You Are Taxed When You Have 2 Jobs | Ridgefield Consulting

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...

Tax On Benefit In Kind | Ridgefield Consulting

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...

How to register as self-employed with HMRC | Ridgefield Consulting

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/register-as-self-employed-with-hmrc/ For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsu...

Capital Gains Tax

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 compensat...

Capital Gains Tax | Ridgefield Consulting

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 compensat...

Capital Gains Tax Explained - Ridgefield Consulting

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 compensat...

The Difference between Director’s Salary and Dividends

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. 

The Difference between Director’s Salary and Dividends | Ridgefield Consulting

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. 

How to register as self-employed with HMRC

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/  

How does VAT work | Ridgefield Consulting

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co.uk/tax-guides/how-does-vat-work/ For more content like this, visit the 'Tax Guides' page on o...

How does VAT work

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. 

Should I buy a company car or personal car | Ridgefield Consulting

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. Access the full article which is regularly updated: https://www.ridgefieldconsulting.co....