The Balanced Business Podcast

Your year-end accounts shouldn’t just be a box-ticking exercise. In this episode, Nicola walks you through what your accounts are really telling you about your business — and how to use them to make smarter decisions.

You’ll learn what each key report means, from the profit and loss to the balance sheet, and how to spot trends that reveal your business’s true financial health. Nicola also explains the difference between cash and profit, why your accountant’s adjustments matter, and how to read your figures with confidence.

If you’ve ever looked at yo...

VAT can feel complicated, but it doesn’t have to be. In this episode, Nicola explains what VAT really is, when you need to register, and how it affects your pricing, cash flow, and customers.

You’ll learn about compulsory and voluntary registration, how the VAT threshold works, and what to consider before making the jump. Nicola also shares practical advice on submitting returns, managing VAT within your bookkeeping software, and avoiding the common mistakes that trip up small businesses.

Whether you’re close to the threshold or already VAT registered, this episode will h...

Business expenses are one of the most common areas of confusion for directors. In this episode, Nicola unpacks what you can and can’t claim through your Limited company, and why getting it right matters for both tax efficiency and peace of mind.

You’ll hear about everyday costs that are usually fine to include, the grey areas like travel and meals, and the hidden gems such as trivial benefits and staff event allowances. Nicola also shares practical tips on keeping good records, avoiding common mistakes, and making sure you stay on the right side of HMRC.

HMRC doesn’t send gentle reminders: miss a tax deadline and you’ll face penalties. In this episode, Nicola outlines the key dates every company director needs on their calendar. She covers corporation tax, VAT returns, payroll submissions, and annual accounts – explaining what needs to be filed, when, and why. You’ll get tips on setting up reminders, organising paperwork, and working with your accountant to stay compliant. Nicola’s aim is to help you feel in control rather than panicked when deadlines loom. Whether you run payroll monthly or only file once a year, this episode ensures you know what’...

Managing money in a Limited company can be confusing. In this episode, Nicola clarifies what belongs to the business and what belongs to you. She explains the difference between taking a salary, dividends, or a director’s loan; how to structure your pay to be tax‑efficient; and why using the company bank account as a personal spending pot is a bad idea. You’ll also learn about bookkeeping basics for tracking receipts, paying expenses, and recording transactions. With her approachable style, Nicola helps you understand how to pay yourself confidently and comply with HMRC rules. If you’ve ever won...

Becoming a director brings both freedom and responsibility. In this episode, Nicola explores what it really means to be the director of a Limited company in the UK. She explains the legal duties imposed by the Companies Act, the accountability to shareholders and stakeholders, and the personal mindset shift needed when you move from sole trader to company director. 

You’ll hear how directors must keep proper records, avoid conflicts of interest, and act in the company’s best interests. Nicola also shares ways to build confidence in your new role, from understanding your reporting obligations to seeki...

In the second episode, Nicola walks you through the practicalities of setting up your Limited company. From choosing a company name and share structure to registering with Companies House and HMRC, she shares the steps you need to take and the pitfalls to avoid. 

You’ll learn why opening a separate business bank account matters, how to decide on share classes, and why getting the paperwork right now saves headaches later. 

As an accountant who supports owner‑managed businesses every day, Nicola provides clear guidance and real‑world advice. If you’re ready to turn your busin...

Thinking of switching from sole trader to a Limited company? In this opening episode, Nicola tackles one of the biggest questions small business owners face: whether to incorporate. 

She breaks down the differences between trading as a sole trader and operating as a Limited company, covering tax planning, liability protection, ownership structures, and director responsibilities. 

Nicola explains the pros and cons in plain English and offers guidance on deciding when the timing is right. Whether you’re a self‑employed professional, a consultant, or running a growing company, this episode will help you weigh up the be...

In this short welcome episode, I introduce The Balanced Business Podcast and share what you can expect from the series — whether you’re new here or already a few episodes in.

We start with a 12-part series called The Director’s Handbook, designed especially for owner-managed businesses running (or thinking about running) a Limited company in the UK. It covers everything from getting set up and staying compliant to paying yourself properly, managing taxes, understanding your accounts, and knowing when to get support — all in a clear, jargon-free way.

After that, we move into ...