In this episode of The Leaky Bucket Podcast, host Ian Morgan dives into why strategic planning is essential for business growth and sustainability. Learn how a Virtual CFO goes beyond traditional accounting to help craft a long-term financial roadmap that aligns with your business goals. From budget monitoring to cash flow forecasting, discover how forward-thinking financial strategies can turn your business from reactive to proactive. Don’t miss this foundational episode on setting your business up for success!

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this timely episode of The Leaky Bucket Podcast, Ian Morgan breaks down the key announcements from the recent Labour Party budget and their implications for business owners. With changes like the employer’s NI increase, lower threshold, and a hike in the National Minimum Wage, Ian explains why strategic plans and budgets need to adapt. Learn why this budget might lead to price increases and job losses, and how you can prepare your business for these shifts. This is essential listening for staying ahead of the curve.

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this first episode of The Leaky Bucket Podcast we dive into the power of a Virtual CFO and why it’s a game-changer for growing businesses. Whether you’re a business owner with a turnover between £1m and £10m or just looking to understand the benefits of strategic financial leadership, this episode is for you. I, Ian Morgan, founder of MBS Accountants, break down exactly what a Virtual CFO does, the key areas they help manage—like cash flow forecasting, budgeting, and strategic planning—and how they can drive your business towards sustained growth and profitability. Tune in to find out how a Virtual CFO can free you up to focus on what you do best while ensuring your finances are handled by an expert.

Ready to learn more? Listen now, and don’t forget to subscribe for upcoming episodes where we’ll explore more insights on how a Virtual CFO can transform your business

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this episode, we explore the critical importance of investing in your finance function and how it can make or break your business.

We discuss why allocating 1.5-2.5% of your turnover to financial management—including bookkeeping, reporting, cash flow, and tax compliance—can significantly impact growth and profitability.

Through real-world examples from businesses that faced major financial challenges due to underfunding their finance departments, we illustrate the tangible benefits of proper financial oversight. From resolving VAT issues and correcting bookkeeping errors to saving thousands in tax liabilities, this episode shows why your finance function is essential to success.

Don’t wait until it’s too late—learn how to invest wisely and secure the future of your business.

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this episode, we dive into the top 10 things every business owner should know when it comes to making sense of their management accounts. These reports are key to understanding the financial health and performance of your business, but often they can feel overwhelming or unclear.

We’ll break down:

•The importance of accuracy and timely reporting

•Why cash flow statements and profit and loss overviews are crucial tools for decision-making

•How to leverage KPIs, trend analysis, and variance reporting to steer your business in the right direction

•Why clear balance sheets, segmental reporting, and user-friendly formats can make all the difference

Whether you’re running a growing company or just want to understand your numbers better, this episode will help you simplify your financial reporting and make better, data-driven decisions for your business.

Tune in for actionable tips and insights that will transform how you view your accounts and help you drive your business forward with confidence!

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this episode, we explore the pros and cons of putting a company car through your business. We focus on two main types of vehicles: commercial vehicles and electric vehicles (EVs).

Key Points:

•Commercial Vehicles:

•Offer significant tax benefits, including full tax deductions and VAT recovery (if VAT-registered).

•Typically exempt from Benefit-in-Kind (BIK) tax if used exclusively for business.

•Electric Vehicles:

•Benefit from lower BIK tax rates due to their low emissions.

•Eligible for government grants and 100% first-year capital allowances.

•Lower running and maintenance costs compared to traditional fuel vehicles.

•Enhance your business’s green credentials.

Considerations:

•Personal use of company cars can lead to additional taxes (BIK).

•Weigh the cost vs. benefit of owning the car through your business versus personal purchase.

•Choose the right vehicle based on your business needs.

This episode helps business owners make informed decisions about whether putting a vehicle through the company is the right move, especially with the rise of commercial and electric vehicles.

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

In this episode, we delve into the crucial topic of choosing the optimal business structure for tax efficiency. We’ll compare and contrast four main types of business structures: sole trader, partnership, Limited Liability Partnership (LLP), and limited company. Here’s what you’ll learn:

1.Sole Trader:

•Pros: Simplicity and full control.

•Cons: Unlimited liability and higher personal income tax rates.

2.Partnership:

•Pros: Shared responsibility and relatively easy setup.

•Cons: Unlimited liability for partners and personal income tax on profits.

3.Limited Liability Partnership (LLP):

•Pros: Limited liability and tax flexibility.

•Cons: More complex to set up and partners still pay personal income tax on profits.

4.Limited Company:

•Pros: Limited liability, lower corporation tax rates, and tax-efficient profit extraction through dividends.

•Cons: More regulatory requirements and administrative costs.

We’ll guide you through the pros and cons of each structure, focusing on their tax implications and helping you make an informed decision based on your business’s profit levels, liability concerns, and administrative capacity. Tune in to learn which business structure could save you money and protect your assets while aligning with your long-term business goals.

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website

Join Ian Morgan as he explores the most efficient ways for UK directors and shareholders to pay themselves in 2024/25. This episode covers the basics of dividends, outlines three key strategies for tax-efficient income, and offers crucial advice on managing higher earnings and additional income sources. Whether you’re optimizing salary and dividends or navigating tax complexities, this episode provides actionable insights to help you maximize income while minimizing tax liabilities. Tune in for practical guidance tailored to your financial success.

For more details, visit our website or the MBS Accountants Blog.

Hello. Welcome to the leaky bucket to podcast. I'm your host in Morgan, and I'm here to make accounting fun and practical. With over 15 years of experience as an accountant and a business owner, I'm excited to share tips and tricks that will help you improve your financial controls and gain the clarity that you need to succeed.

So let's plug these financial leaks and take your business to the next level. Stay tuned for some great insights

Thanks so much for taking the time to join us for this episode today. We will continue to bring you great tips and tricks in future episodes. But if you can't wait until then, then you can always head over to our Facebook group and join the conversation with fellow business owners and entrepreneurs.

Accounting Tips and Tricks Facebook Group - https://www.facebook.com/groups/accounting.tips.and.tricks

Until Next Time...

Support the show

We hope you enjoyed this episode

You can find out more about us using the links below

Know your Business Financial Health? Check this Score Card
Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website