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Self Assessment Questions re How to Declare 'Bundles'
I have bought & sold items online and now need to complete a Self Assessment as I am over the £1k trading allowance, and have (inadvertently) become a Sole Trader. I have some questions regarding how to declare 'bundles' please. Eg a Beauty Advent Calendar. Cost £250 from the retailer & contains 24 items. Purchased knowing…
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Resale of Tickets (Trade Show)
Hi there, I run a VAT registered business and bought 4 tickets to a trade show last year. I ended up selling 2 to another business at face value as I didn't need them and they had sold out. Do I need to charge VAT on the ticket sales? I purchased them for £236 (no VAT) and have sold them for £236, so if I should have added…
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questions about sending in to HMRC as requested.
So childcare want more proof I work and want to see income and expenses etc. I do have an accountant but childcare want this very quickly and it needs to be all sent in, in next 48 hours so Im doing it myself. I have some simple questions. 1. They want to see my business account statment, each line just says "paypal…
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MPLC licence in a business with no TV, just computers
I run a small business with around 120 employees, I have been contacted by a quite aggressive sales person from the Motion Picture Licensing Company - MPLC - who states that their database indicates that we do not have an MPLC licence and insisting we need one. I have never heard of this organisation but a quick Google…
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Have 3 businesses but childcare want more proof of income now its appeal stage
so we get 30 hours as both parents are working. I have 3 businesses, 2 are company which no money comes out from no PAYE set up. The 3rd is a events businesses. So Im in a pickle, so I do an event and bring in £20k per event and I do two a year, but I keep that in that bank account, I don't put anything in my personal, as…
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Recommendation for book on doing own accounts as a sole trader
I am intending to register as a sole trader shortly, and would welcome any recommendations for a book on how to do my own accounts. The business will be a small sewing based business, run from home, and so I doubt that I will make enough to justify paying someone else to do them.
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Amazon seller Account level reserve, and cash flow problems. Advice needed!
We are going on to the Account level reserve DD+7 ((Delivery date + 7 days)) in September having postponed it for a year. This means that for 3-4 weeks we won't be able to disburse funds from our sales (and therefore won't have a cash flow to pay wages, buy stock, postage and all the other outgoings a small business needs…
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Recommendations for private health insurance for two company directors
Hi all,My business partner and I would like to set up a private health insurance policy for myself, him and his family.I'm single and he's got a wife and three kids. We're both in our 40s.Are there any providers who stand-out from the pack? What kind of features should I be looking at?Thanks in advance for any assistance.…
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MTD for ITSA software advice
Folks I am sure there are lts of people searching for Free or good value software. I am one of them. I am a sole trader not VAT registered. I current use Excel and have been checking out various Bridging Software. 123 sheets appears to be a good option. Anyone got any thoughts on a decent software? many thanks harry
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Letter before action?
My son is starting a new business, to be honest it's on a shoestring budget. It requires a boat with an outboard engine. He has spent the winter and spring renovating a boat to make it serviceable for the job. Last year he spent a considerable amount of time painting a luxury yacht for the customer of a marine outfitter.…
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HOW TO MAKE VIDEOS AND PUT THEM ON SOCIAL MEDIA
Hi Folks I am a maths tutor and want to make videos on topis which students find most difficult. In the videos, I only want to show my pen, the question and workings out, plus my voice stating how to resolve the question. Can someone kindly suggest the type of software that I should use? Can this be done at home or would…
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How is business ??
Not really related to money saving, but wondering how everyone is finding things in 2025? After about seven good (and some very good) years running our small business in the construction industry, work has gone off a cliff since xmas. I'm hoping it just me, and its a blip, but I'm struggling to understand where the…
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accountant problem
My accountant charged me to set up payroll 5 years ago - I recieved a bill for the last 5 years of running payroll - im a one person company, he had never set out ricing or send any invoices in the last 5 years and now wants £2000. one thing is that it feels very unfair / unreasonable to be charged for services i know…
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Is this a GDPR Breach?
Hi all, I was just wondering if someone could offer some advice Where I work we run a series of conferences, one of these we licence out to a third party on our behalf- we own the data for anyone who attends etc but its licensed to them. As part of this anyone who signs up for the event can tick a box to receive further…
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Unique Tax Reference-Self Assessment
I received a letter from HMRC recently requesting me to contact them regarding Self Assessment so I did...to my amazement they told me that according to their records, I had an incomplete tax return for 2009 and this incomplete tax return had accumulated fixed penalty charges going back 17 years with an outstanding amount…
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Sole trader self assessment- accountant needed/
A bit of advice please . I am a soletrader selling online through ETSY and a couple of other selling sites . I pay an accountant £280 to check over all my spreadsheets , bank statements I have sent and then they submit it through self assessment . I sell mostly through etsy and keep a track of all the costs on a…
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Investing in index fund
I have just under 200k, of my small limited company money, invested in an index fund that was set up by my IFA. My IFA deals with this, my pension, my house mortgage and several BTL mortgages. I've had my company draft accounts for the year and although the fund has increased a bit, the 'stockbrokers fees' listed in the…
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Can i still be self employed with zero takings?
Hi, i am hoping to set up a business soon, it'll take some time to establish, at least a year, if not 2, in that time I expect it to turn over £0! It'll (unfortunately) have all the time/money expenses of a business though, and because of that and the fact I'm aiming to make money, can I still register as self employed?…
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Closing business
Hi, I'm currently a self employed childminder and plan to close my business July 25 and have accepted a new job starting in September 25. In regards to my tax period from April until July does anyone know what happens regarding this? As wouldn't earn £12,751 for this period however will be earning above that starting…
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King's Trust Enterprise Programme Experience
Hello everyone. I wanted to get some views from people who participated in the King's Trust enterprise programme from 2024-25. I've tried to get onto the programme twice now, but I've been rejected because I don't have the qualifications or experience required to run my business, even though my business doesn't require a…
