Ok this is something completely new to me but I think it will be a great add on to Mums Tax Break.
I’ve read a fair few personal development books these last 2-3 years and from each one I have taken away something different. If I can put those snippets of knowledge down into blog form and encourage you as my reader to then read such books and gain the same knowledge, I’m technically giving you a little something and I like that.
I have spent the last 2 nights cuddled up on the sofa reading ‘She Means Business’ by Carrie Green. Carrie Green is the founder of the Female Entrepreneur Association (FEA). I think I started following the FEA on social media maybe a year ago, if you don’t follow them already, their posts are very pink and gold, full of inspirational quotes, daily tips and beautiful affirmations.
I pre-ordered the book prior to its launch, this gained me access to the ‘She Means Business Book’ closed Facebook group which as I write this currently has 8,931 members. All of whom are female business owners with the same dreams and determination to build above and beyond successful businesses.
I also gained access to the ‘My Perfectly Planned 2017’ online course with downloadable workbooks, ‘The Business Pros tell All’ A series of online video training, workbooks and meditations from 25 of the worlds class experts and the “She Means Business Course’ a 28-day business challenge starting 01 March.
The book itself ties in with the FEA brand, very pink, white and gold. It is of high quality and feels very fresh and crisp to read. There are 259 pages broken down into 3 main sections including a brief introduction to the 28 day ‘She Means Business’ challenge. And of course in true FEA fashion the book is jam packed with inspirational quotes.
The first section of the book titled ‘She shows up for her dreams’ gives an in-depth story touching on Carries childhood and early years as a female entrepreneur. It is evident from the book that she has always had a strong and close network around her for support and encouragement – especially her father. She talks about creating a business vision, all the struggles every business owner has on their journey and how she was able to overcome them using beliefs from the law of attraction.
The book is broken down into lots of little chapters, it is very easy to read and it allows you to stop-start (which is perfect when you have a toddler at the top of the stairs screaming down every 10 minutes or so). At the end of each chapter there is a ‘She Takes Action’ summary giving you key issues and points to action. I haven’t seen this in a book before and I think it is a lovely feature.
Also at the end of the 3 main sections there is a checklist again to action various tasks, etc. Throughout the book Carrie refers to the resource section on the FEA website which features downloadable goodies to accompany the book itself.
The second section ‘She gets herself out there to shine’ is pretty much a how to guide with a 5 step action plan to follow in building up the main core of your business to where you need it to be – financially and successfully. Carrie details these lovely and adds in her own personal experiences as well as others for further understanding and illustration.
The third section ‘She’s unstoppable’ gives an overview of what it is like and how it feels to have reached your goals and get to where you want to be. She offers advice on how to keep the momentum flowing, overcoming overwhelm, celebrating a success and building a good network of mentors and business friends.
The book ends on the 28 day ‘She Means Business’ challenge which I am yet to read as I’m eagerly waiting the release of the online course to accompany it as mentioned above.
Overall, I thoroughly enjoyed the book and highly recommend it to others. Especially if you are at the very beginning of your entrepreneurial journey as I would imagine most of the content will be completely new to you. I am now even more intrigued as to what the FEA members course is like. One of the most important things I am taking away is to set myself a business mission.
I’ve read the book straight through, I’d advise maybe doing this too and attempt it a second time with a journal and pen to scribble down lots of notes and crazy ideas to get you started on your own personal journey of female entrepreneurial success. This is my plan of action for this week!!
If you have read the book as well, please let me know what your thoughts are in the comments? Also, Are there are other books you can recommend?
Until next time, lots of love, Iona <3
p.s Please click here to purchase your own copy of ‘She Means Business’ by Carrie Green
p.p.s In true Mums Tax Break style I am writing this at 00:29 on a Saturday night with my toddler cuddled up next to me watching cartoons!
As we approach the last week of February we are saying goodbye to our monthly valentines theme for February but before we do I have a belated small valentines day gift from me to you.
A Mumpreneur – A woman who sets up and runs her own business in addition to caring for her young child or children.
Running a business, I think is hard enough for anybody, but throw in raising a family and looking after a home on top of that is on another level hard.
As a 'mumpreneur' I have been through many highs and lows, with lots of different challenges to face, I have very often come home feeling on top of the world but equally come home in tears wondering if I should instead find a job.
We very often start a business we desire with lots of hard work, commitment, passion and with the idea in mind we are doing the best for our children whilst being at home. It gives us instant flexibility and as a mum of young children there is no greater gift. Being a mum boss, working from home it means we don't have to worry about school pick-ups, school holidays, sick days and the rest.
Instead what we do feel (and not realising what we are letting ourselves in for) is an overwhelming amount of guilt, stress, financial pressures, excessive work hours, and tiresome days. All of these can sometimes create a build-up of resentment aimed at our businesses.
I am going to share with you a few of my own experiences and best advice I can give as a fellow mumpreneur. By no means am I implying I have all the answers as I am pretty sure I have many more bumps in the road to overcome myself.
Before my final goodbyes for this month… I thought I would leave you with a hint of what is to come for March 2017, We will of course be celebrating mothers day in style with some information and advice regarding maternity allowance.
To download the fabulous and free 16 page e-Book ’14 Ways for a mumpreneur to fall back in love with her business’ all you need to do is enter your name and email and as if by magic the link will appear below for you to open in a separate window.
Happy Valentine’s Day from everyone here at Mums Tax Break!
The 2015/16 tax year introduced us to the marriage allowance – Meaning that if you are a married couple and one of you earned less than the personal allowance of £10,600 you were eligible to transfer 10% of your unused allowance to your partner saving them £212 in tax.
I think I had maybe 4 or 5 clients who were able to take advantage of this, £212 doesn’t seem like a lot but hey its better than nothing (and it definitely covers the costs for a romantic valentine break away)!
So… Can I Claim?
You as an individual are eligible to apply for the marriage allowance (for the 2016/17 tax year) if the following conditions apply
– You are married or in a civil partnership
– You have an income of less than £11,000
– Your partner has an income between £11,001 and £43,000
And… How much will I receive?
Personally, you as an individual won’t receive anything, instead your partner will receive the benefit.
The marriage allowance (for the 2016/17 tax year) will allow you to transfer £1,100 of your personal allowance to your partner. This will see a reduction in their tax payable of £220.
There are 1 of 2 ways your partner will receive this reduction
– Through change of tax code if your partner is in employment, meaning they will pay slightly less tax each pay date
– Via the self-assessment tax return if they are self-employed, meaning they will pay less tax at year end
…Is it easy to do?
Depending on your personal circumstance there are 2 ways you can claim for the marriage allowance
– If you are self-employed you can easily do this via your self-assessment tax return by providing your partners personal information – Full name, date of birth, NI number, address and date of marriage
– If you are employed or unemployed you can complete the online application over on the HMRC website – Apply for Marriage Allowance Here!
…What if my income increase?
If your circumstances are to change and you are no longer eligible to claim the marriage allowance you or your partner can cancel online via the HMRC website.
Ahhh I didn’t know about this! Have I missed out for last tax year?
Good news – No you haven’t! You can backdate the claim using the link above, even better news as the 2015/16 tax year has now passed instead of reducing your partners tax code HMRC will instead send you a cheque for the £212.
Just one last little point
The marriage allowance is a set transfer currently at 10% of the personal allowance for 2016/17. This means regardless of income levels you can only transfer £1,100.
If your income is above £9,900 you will trigger a small tax liability payable to HMRC as your personal allowance will be reduced to this amount after the transfer. Any profits above this amount will be taxable at 20%.
It is therefore always worthwhile discussing matters with your accountant before you consider making a claim.
Are you doing anything lovely to celebrate valentine’s day this year? Please share the love in the comments and tag your beautiful brides <3 <3
Happy February, I can’t believe how fast January passed…
For those of you who don’t know already, I run a small bookkeeping and accountancy practice in Newport, South Wales as well as keeping the Mums Tax Break blog. January 2017 has most definitely been a record month at Ivy Wood with a total of 32 self-assessment tax returns passing through! I only had 50 to file in total so as you can imagine there has been a lot of late nights, early mornings and weekend working! I took on 5 new clients and registered 3 new businesses… Hopefully the momentum will keep up throughout the year.
The blog theme for February here at ‘Mums Tax Break’ is obviously going to be based around valentine’s day and our main read a bit closer to the big day will be based around the marriage allowance – Hopefully we can save a few of you some extra pennies. But for now, we’ll be talking about how important it is to love yourself.
I was lucky enough to attend a ‘De-stress and beginners Meditation’ work shop at Past and Beyond towards the end of last year and the main thing I took away from that experience was that I don’t look after myself. My main priorities in life are looking after the kiddies and running the business. It was a scary moment when I realised that if I was to just crash and burn out one day all the hard work I’ve put it would be for nothing as not only would my kids suffer but who would look after Ivy Wood.
It hit the nail on the head even more when I went back to have my chakras balanced (sounds scary, but amazing) and the spirit guide advised that I needed to drink more water. I came out of the salon at 15:20 that afternoon when it dawned on me that I hadn’t eaten or drank a thing that day!
Now I am no expert but even I know that isn’t healthy but that was just the norm for the life I’ve built myself – I wake up of a morning, make sure the kids are fed, dressed and out of the door on time for nursery or school, I head straight over to the office or off with a client and get engrossed with my work all day before leaving again for the school run. I’d survive throughout the day on the occasional tea, coffee and biscuit and It’s only at tea time that I will sit down and eat a proper meal.
As a result of working with Trish at Past and Beyond one of my goals for 2017 was to be more mindful, to be more at ease and look after my own health. Obviously, that went out of the window throughout January so to kick start that in February I’ve come up with the idea of ‘Feel Fab Feb’.
Every day throughout February I will be posting on social media a ‘Feel Fab Feb’ task with the thought in mind of giving you a time out to take care of yourself. You can follow us on Facebook, Instagram and Twitter using the following @mumstaxbreak or you can click one of the social media icons that are hovered around the blog!
Day 1 of ‘Feel Fab Feb’ is take yourself to bed early tonight, it doesn’t seem like a big deal but I’m confident you will feel a difference in the morning. For me personally, it is much needed right now. Ideally, I would like an extra in bed in the morning but hey I’m a mum, you’re a mum and we have school run duties!