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Accounts on driving instructor car
Hello My husband is just starting off as a driving instructor. We’ve purchased a car via a personal loan in his name over three years m. My plan is to put the monthly payment through as a business expense. Can anyone tell me if this is incorrect. I’ve read that you can claim 100% under an annual allowance but not interest…
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Renewing Retail Premise Lease, No Guarantor - Advice Please
Hello, first time here, so please be understanding. I've been running a small business shop premises for just over two years and in the coming months (before the initial 3yr lease expires later this year) I need to confirm with my landlord if I plan to renew the lease for another three years. Should be a simple decision,…
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Need some guidance on filing a AA02 Dormant Company Accounts (DCA) with Companies House
Hi All, I have a dormant Limited company that has not traded the previous 12 months. I need some guidance on completing the form as I'm having trouble with some of the jargon, and my numbers simply fail the validation checks. The Facts: * When the company was formed, 100 shares was created and fully paid at £1 each, so…
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Close Down Your Limited Company by Voluntary Strike Off - Accountant is a must..?
I am in the process to close down my Ltd company which was inactive for last 3 years no creditors or any other financial burden. I am going to use Voluntary Strike Off route for this. Is it a must to have an accountant ?? I am capable of doing the process and documentation for company closure.. Thanks
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What insurance do I need?
I am thinking of investing some funds to buying sweet carts, wedding bits etc which can be hired out for weddings, parties etc. Could anyone point me in the right direction with which insurances I would need? I'm assuming public liability to start? Thanks Trish
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How to get company receipt
Hello, I can't be the only one to have this problem but I can't find out how to solve it. My husband and I have a newly formed limited company. The address is registered at my accountants and so is the banking. That is causing a problem with wanting to shop online because they will not deliver to an address not linked to…
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Recommendations for Beer Mat Suppliers
We have recently opened a bar in Manchester and I was wondering if anyone had experience in dealing with beer mat printers? we are looking to get some custom mats printed with the bar branding and a QR code.
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Fraudulent company using my name and using my address
Hi there, On Monday this week, I received Companies House letters congratulating me on becoming a director; I thought it was a hoax. The company name is "[MY NAME] PHOTOGRAPHY LTD". Checked their website and found that the company is real, active set up on the previous Thursday. The company files show that I am the sole…
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Help Employing family member under £123 a week
I am half employed and half self employed and I am wanting to employ a family member for about 8 hours a week for now. I am not quite sure on what to do, I have tried following the step by step employing someone for the first time on the gov website but I'm still not sure It says I don't need to register as an employer as…
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Online store - what to do now?
Hello. I started an online store that sells products in the UK and I'm struggling with marketing. I used agencies and freelancer and they brought no results except draining my bank account. I'm now in a situation where I'm not sure where to proceed and wonder if anyone has some pointers for me. Ideally, I'd like to sell…
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Self Assessment: can't enter Loss Brought Forward from Earlier Years
In some previous years, my little business made a loss which I have been carrying forward without a problem. In 21/22, it made a net profit. The form is refusing to let me offset these losses against my modest profit. I was in the same situation last year and managed to fill in the form ok. What do I have to do? I'm so…
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Freelancer limited company accounting
I went freelance a couple of months ago, I set up a limited company but as I haven't been making much money yet I haven't employed an accountant. I've done lots of research so I'm hoping I've done everything correctly. So far, I've just paid myself in dividends - I made the assumption that since I was over the threshold…
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Question about bundling goods with different VAT rates
A little advice would be greatly appreciated. I run an online pram store and we are shortly about to start selling car seats. VAT on prams is 20% while VAT on car seats is only 5%. I want to run an offer where I give away a free car seat with every pram order. But I want to structure the purchase so that they are paying…
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Tax breaks for volunteering?
I'm a search technician with a Search & Rescue team. The organisation is a registered charity, and we are all 100% unpaid volunteers. Over time, we tend to buy our own kit (anything from rucksacks to torches to food) to supplement what's been provided by the organisation. Does anybody know if it is possible to claim back…
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Due tax refund..
Due a tax refund, not sure how it's going to arrive. Background, for the first half of this year, I was in employment and earning a regular wage, paying income tax via PAYE every month as part of my wages. Midway the the year, I quit, I'm now the director of my own limited company. I'm using Freeagent for bookkeeping (just…
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Anyone using hmrc PAYE tool?
I’m assuming it’s very straightforward for a sole trader with one employee earning £580 monthly?I’ve just downloaded it onto my laptop, my Wife (who does my books and tax returns) was hoping to be able to get to grips with it before April when I will be registering as her employer/ paying enough to get NI credits.…
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Advice on selling to EU countries
I was hoping for a little advice on Exporting if anyone could be so kind. I run a small online Pushchair/Pram/Car Seat business here in the UK. At the moment we only ship to the UK and I was considering expanding to selling in Europe. I am trying to figure out what duties and taxes will be liable on orders shipped to…
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General Partnership declaring profits vs drawings
Hi all, In our first year of a general partnership (50/50 split), and the accounting year comes to an end in line with the tax year. In terms of assessment forms we need to complete (partnership and self assessment), we're fine with that, but my question was around what needs declaring where, depending on what we're…
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Paying emergency tax but won’t earn over the Personal Allowance threshold
Hi, I’m hoping someone can help me as neither of the HMRC helplines or Google seem to be able to help. I operate as director of a limited company but am paying myself up to the Personal Allowance this tax year as salary with the rest as dividends so as an employee won’t personally owe any income tax or NI. I used the HMRC…
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Customer in liquidation + cold caller offering to buy the debt owed to us
Hello. I'm hoping someone can offer an insight into a rather unusual situation. We are a small business (sole trader) and one of our customers (a Limited Company) has gone into liquidation, owing us circa £26,000 (inc VAT). We have submitted our Proof of Debt form to the liquidators but aren't holding out much hope of…