Ascentis TV Episode 14
Ascentis TV recently aired its 14th episode, and it was packed with valuable insights for those involved in foreign currency transactions. The episode covered various topics, including a Tech Talk segment featuring Lee Kaznowski discussing a groundbreaking app designed for the forex market.
Lee introduced the episode by expressing enthusiasm about the app’s potential to simplify and reduce costs in the forex arena. The spotlight then turned to James from Airwallex, a cross-border fintech company originally founded in Australia. James shared the company’s backstory, revealing that it originated from the founders’ own struggles with high transaction and conversion fees while running a small cafe, which prompted them to create a solution.
Airwallex has evolved into an end-to-end banking platform, aiming to break down barriers for businesses engaged in international transactions. A standout feature is its proprietary FX tool, allowing users to convert currencies within their wallet seamlessly. The platform also facilitates both local and international payments, emphasising the use of local methods for cost-effectiveness and speed.
One unique aspect of Airwallex highlighted in the episode is its card offering in partnership with Visa. Users can create virtual and physical cards, including an expense management platform, providing a comprehensive solution for businesses.
The integration capabilities of Airwallex were also discussed, emphasising its synchronisation with popular accounting software like Xero and recent integration with Netsuite. The platform’s versatility makes it suitable for a wide range of industries, with a particular focus on businesses dealing with multiple currencies.
The episode featured a live demonstration of the Airwallex platform, showcasing its user-friendly dashboard and functionalities. Lee and James discussed various aspects, including creating global accounts, receiving local payments, and the seamless currency conversion process.
Following the tech talk, the episode shifted to Mark’s tax tips. Mark focused on tax-free rewards for teams, such as company mobile phones, the cycle to work scheme, and providing free or subsidised food during meetings. He also discussed the annual staff party exemption, emphasizing that any exclusion based on job roles could lead to tax implications.
The tax segment concluded with insights into the benefits of a PSA (Payroll Settlement Agreement) with HMRC, providing a mechanism for employers to cover the tax on benefits provided to employees.
The episode wrapped up with AdminMin, featuring Lee again, highlighting important deadlines, including the self-assessment tax return due on July 31st. Lee also shared information about available grants, including a growth program grant with coaching support and recovery loan schemes.
About Ascentis TV
Ascentis TV is our update show that gives business leaders updates and insights on various growth-related topics such as taxation, financial management, people management and much more. The show features our amazing experts from Ascentis who have many years of experience in helping businesses grow successfully and helping individuals achieve their personal vision of success.
You can find more Ascentis TV episodes and subscribe to our channel on our YouTube here.