Ridgefield Consulting's Accounting Advice

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/

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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/

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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/

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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/

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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/

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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/

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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/

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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/

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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, thresholds and allowances: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-spread-out-your-personal-tax-bill-payments/

For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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/

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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-deadline/

For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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-reduce-your-tax/

For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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/

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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: https://www.ridgefieldconsulting.co.uk/tax-guides/how-to-claim-rd-tax-credits/

For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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 our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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-limited-company/

For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/

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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/

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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-guides/

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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/

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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/

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