Earning more is a good thing!

Uncategorized Mar 23, 2022

I want to talk to you about why earning more is a good thing in your business. It's always a good thing to be earning more, particularly as women. I hear people say they want to keep under the VAT threshold, or they don't want to go over the higher rate tax threshold, or that they don't want to go limited because it's more work. Actually, all of those things are good. You are contributing to taxes which means that you can be helping other people. You're helping the wider economy by paying your taxes which then helps for National Insurance and the NHS and education and all the things that we take for granted.  This is the same even if you're not in the UK, you are contributing to everything that makes up your taxes.


Earning more is a good thing and don’t feel that you are greedy, because you can choose what you do with your money. You can take that home, you can spend it on your house, go on holiday - we all want more money!

More money gives you more freedom. You are buying freedom, which might mean buying more time with your family, buying more time so that you don't have to work so much, buying a holiday. You also need to be able to take the time off and I think a lot of us find that’s really difficult to do.


I don’t want you to think about it as being greedy, you can spend your profits on whatever you like, think about it as scaling up.

If you want to do charity work and give money to charity, you can absolutely do that. You can do some pro bono work one day a week knowing that you are earning enough from the remaining four days of the week.

Earning more is never a bad thing. I think, as women particularly, we have a real mindset of thinking that earning more is a bad thing. We need to stop thinking we have a hobby and remember it's a proper business which earns you money. What you do with that money is up to you, you have the freedom to decide. Aren't we lucky to have that choice?

So, never think that being above the VAT threshold is just a pain. Pay somebody to help you do it. It's not that big a deal really. Get an accountant and an accounting system and get them to do it for you. It doesn't cost very much. Don’t be artificially managed by the taxes because that's just not the way it should be. Paying more taxes is a good thing!


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