Business Mindset

Should I Run Payroll In My Business?

During the early days of a business, owners concern themselves in finding ways to generate more revenue. Investing in services and systems for employee salary is the very last thing that occupies their minds. But paying your employees the right way is a critical responsibility that can affect your business in the long run.   …

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Why It’s A Good Time To Go All In On Your Side Hustle?

“It’s always better to have a second source of income.” I’m sure you think that, too. If you’re a paid worker or “salaryman” as what most people would call it, one of your greatest fears probably has something to do with making ends meet. Most months, strictly budgeting your income is enough to suffice your …

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Should I Take On A Person As Self Employed Or As An Employee?

With the recent world events, going back to the “normal” living situation seems like a far-fetched idea. Thus, people are bracing for the “new normal” where traditional ways are replaced by adaptive modern methods like online classes and work from home. Almost half of the population is now working from home, even with the gradual …

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What Is Debt Snowball?

Lately, it seems that the majority of people and businesses have accumulated a certain level of debt. This experience is rather usual, especially for those in the middle class. You have all of these needs that you want to achieve, and yet you do not have the money for it. This is why we settle …

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What is IR35?

In order to address “disguised employment”, the HM Revenue & Customs introduced the IR35 or the “off-payroll working rules”. IR35 evaluates whether a business’s contractors are employees or self-employed whenever they take on work for clients.    If the contractor is “inside IR35”, the government sees the person as an employee. Therefore, they face an …

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What Is a Liability?

When doing any kind of business, you need to understand that all of your moves will involve some sort of risk. The world is already a vicious place, but adding money into the mix makes it even more dangerous. Whether you are a start-up or an established mega-corporation, there is still a chance that everything …

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What is a Dividend?

A dividend refers to the reward that a company gives its shareholders depending on its growth. This may be given in various forms, like cash payments and stocks, depending on what a company’s board of directors and its shareholders agree on. While it is not required for a company to pay a dividend, it is …

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Should I Put my Rental Property Into A Limited Company?

The pandemic has changed a lot of people’s lives in a short amount of time. Having everything upended for so many people has made it one of the worst years in history. It has affected the way we live our lives, and the ramifications will be more visible as the years pass. Furthermore, it has …

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Using A Limited Company To Buy Residential Property

When it comes to finances, there are so many things that you need to know and consider. Here in the UK, more than half of the population does not know how to manage their finances. One of the most important yet neglected parts of this process is taxation, and it is found in almost every …

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