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Useful guides from MoneySavingExpert.com Do I need a business bank account?Coronavirus Self-Employed & Small Limited Company Help
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Building website for small business
I'm currently trying to help my wife set up her business. We are currently looking at setting up the website however I'm aware of several providers where you can design your own. Does anyone have any recommendations on which on to use? I've gone through a number and not sure which to go for. I was thinking about Wordpress…
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Is there more benefit of becoming a Limited Co versus sole trader (Jan 2026)?
Hi Forumites! Happy new year!! I have recently been made redundant - so with all my skills have decided to start my own business. I've read that the tax rules have changed as well as the cost of compliance, means there is now a smaller gap now to being a sole trader versus Ltd Co (tax wise) and actually, you are able to…
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Holiday rental property help
Hi, we would like some help regarding the best way to set up a holiday rental business. Currently, we have a home property with no mortgage, which is worth about £350K (but no rental potential). We also have some savings which we could put towards a business. If we wanted to purchase a bigger place with rental potential,…
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Sole trader into Partnership
Hi! 👋 Just wondering, if my wife and I are both sole traders and would like to join into a partnership, what would need to be done apart from creating a new business? 🧐 I was trying to find some advice online on the gov.uk site, but only found that we need to create a new business as a partnership and carry on normally,…
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Sumup Air payment settings
Using the sumup air device and the phone app. After inputting the amount on the checkout page and pressing 'charge' it takes you to the payment methods page where you select the card reader or payment link. Is there a way to remove the payment methods page and make all payment by the card reader only? If you are doing…
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Course attendee wants refund due to absence
I run a course that that runs for a few months, and one person attended for the first few weeks but then messaged to say they were unable to attend due to illness, and would update me on when and if they would be back but didn't. The course was fully booked and I was unable to offer the spot to anyone else. And now after…
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Making tax digital questions
Hi, I’m a taxi driver and up to now I’ve written all my income and expenses in a book which I total up at the end of the year and send to my accountant that then does my SA. I have some questions about MTD, my accountant has said that I don’t need to do anything different other than give him the figures every quarter is…
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Limited company unpaid invoice
Hi I was working as a limited company consultant and dealing with a number of projects for engineering consultancy. My line manager asked me deal with a number of projects and getting progress for projects and asking me to complete the tasks and assigning me projects. I was managing my own hours but was billing client…
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Energy broker disputes
Buisness Reduction Services ( NW) I am seeking help and wondering if anyone has experienced or resolved a dispute with Buisness Reduction Services ( NW) and PreAction resolution reached, acting on their behalf . At 0717 I had a cold call from a private number . I had just recieved keys to begin work setting up my first…
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Non refundable deposit
Hi All, The forum team advised me to post here Just before I explain my issue. I live in Scotland. Apologies about the length of this post Our son (25) runs a very small website design business. All his customers are local people who are very happy with his service. He has multiple disabilities and struggles with…
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Side Hustle Tax Question
I started a side hustle on ebay that has slowly grown over time. Initially it was designed to pay for the hobby (3D printing) and that is really it. Under the new digital tax sharing scheme I have now gone over the threshold for the tax year at which point HMRC/ebay are deeming that my hobby sales are a "business". I have…
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Mettle any good? (Not in the MSE business bank accounts article)
Hi all, I'm just setting up a business bank account. I've seen on the forum and in other places that people use Mettle, and that the FreeAgent software is a good bonus. However, it is not featured in the MSE article on business bank accounts, and I can't find any info on transaction fees on the Mettle webpage. Is it…
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Tax return question for 24-25
I’m just submitting my tax return for the 24-25 year. I've noticed this year because my profit is less than £12750 but more than £6845, I do not need to pay any national insurance. Is this correct? I normally pay both class 2 and class 4. My profits are down this tax year so I don’t need to pay class 4? Also, it asks of…
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Best Business Bank Account for New Business Startup being paid in Euros
Hi, I'm setting up a new limited company in the UK consulting for a business in Europe who have agreed to pay me monthly in euros. Rather than opening a business bank account and the having said bank use it's own unfavourable exchange rates whilst attracting possible transaction fees converting euro's to pounds, can anyone…
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HMRC Compliance Check Letter
Hi all I received a letter from HMRC who want to go into more detail regarding my last tax return. I've always submitted my returns and payments on time. I do my own accounts, and so have no accountant or tax advisor. Although what they are asking for is extensive in terms of documentation, it seems relatively straight…
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Accountant recommendaions
I am openning up a business with very straight forward circumstances. I currently have a simillar business that I will be closing. There are two people on payroll including myself. Literally all I need is Payroll once a month, Accounts at the end of the year and being able to call the accountant once in blue moon if I have…
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How can I get help for my business startup ( For unemployed)
hi everyone I lost my job, months ago (A very experienced, Microsoft cloud software develoeper) (1) Starting an online business. A Customer management software I built from scratch, still at infancy stage All jobs I have been applying for, say I am over qualified or declining me, saying I wont stay. (2) I have now applied…
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New Registered Company, Bank Query
I've recently registered a new company for my sole trader business. I've already been using a business bank account in my own name for this, but moving forward can I continue using the existing busness account or should I open a new account in the name of the registered business?
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Anyone used the Co-op Business Bank Account?
hhm, I am small business and moved to the Co-op for cheaper charges (!!) - however, for the first 6 weeks noone could pay into my account due to a technical error on their end (now sorted I hope) and just today, when I paid an invoice it actually lists it as a standing order. I rang the bank and they said that this is how…
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should i pay the accountant the full amount
First year in business started April 7th 2024. With no prior experience, we chose an accountant on our local high street. He didnt want us to use an online digital service, so over the year I collated spreadsheets of income and expenditure along with paper receipts/invoices. Delivered the ledger files to his office early…
