-
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…
-
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…
-
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…
-
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…
-
Small claims court - amending and reserving claim
Hi Hoping someone can help. Paid fee to amend a claim via small claims who said unlimited changes could be made and now rejected. We have submitted a claim on a defendant however a N1244 form has been completed and the fee paid to amend and reserve the claim due to some corrections and new information we need to provide…
-
Starting business with existing stock
My wife has quite a lot of items from various sources i.e. own old items, house clearance from family members. She wants to start as a sole trader selling items on eBay and such. What we aren't sure about is how to show the existing "stock" on the books as such.
-
Other Business/ Individuals using my SumUp Card Machine
Hi All, Wondering how I handle this with my first ever tax return for the 23/24 period, does anyone have any advice, I haven't had much luck trying to find an answer online so far. For a weekend every year we have a big community art event this year we used my card machine to process all the card sales. The majority of…
-
opening a google business email
I have a gmail address but want to have professional looking domain email address. Do I go onto google workspace I put down domain I wanted but it won't let me fill in a name at that domain (keeps leaving gaps between end of name and @ sign) What to do? Can i make two different names on this same domain for £10/year? Also…
-
Cheap business email
Want to get a business email as gmail isn't considered professional apparently, what's the cheapest way?
-
Pre trade expenses on electrical work?
Hi Can anyone tell me if electrical work is allowed as a pre trade expense? I work at home in a detached garage which already had an electric supply but I spent £900 bringing it up to modern standards and safety before officially starting the business. I know that building work or conversion work is not permitted as a pre…
-
Self Assessment Forums for Support?
Hello all I am unsure if this board is suitable for queries on Self Assessment Returns so if it isn't does anyone know of any other suitable forums? I am self employed and my returns are pretty simple but I used to have a friend who advised me on what I can claim back (BUPR etc) but they are not available now to do this…
-
Amazon Vine
I'm self employed .. sole "trader" .. essentially I do digital Audio Typing - currently just for one company (although did provide support for more in the past). I don't earn enough to pay tax but do fill in a tax return. I've been invited to Amazon Vine, which is basically where they will send you free stuff, that is…
-
£1000 trading allowance & self employed partnership confusion
I'm posting this on behalf of a family member who has written it for me! Hello, I am confused about the trading allowance
rules and would like to know where I’m going wrong with my understanding
please? I have a simple business partnership with a family
member. This is my main source of income. I’m considering some casual…
-
Tax year confusion. New sole trader, but using equipment originally bought for a hobby,
Hi, I hope someone could help me in plain English please? I'm slowly working my way through various documents sent to me by a business advisor and links to HMRC but I'm struggling with the concept and whether I have done something wrong. I am PAYE in my day job and have been self employed in years past so am familiar with…
-
Business partnership but being frozen out
Hi all, Looking for some advice from any of you who have had experience of this sort of thing. Ive gone into a limited partnership and the business is trading in the UK. The other partner is in Spain. Its a 60/40 split in his favour. We have since had some disagreements and some profitable opportunities have been cancelled…
-
VAT Calculation
Dear All , how i can add vat 5% on purchasing ?? because In my country they calculate VAT like this (VAT On Purchasing )-(VAT On Sales)=VAT I have to pay for government ??..
-
Business inactive - is this all I need to do? (HMRC)
Hi, I own a limited company that I used to rent out a property. This property was sold in October 2022 and has not traded since, had any activity whatsoever, and all filing is up to date. Although I am not currently interested in purchasing another property, I would ideally like to keep the company, just incase this…
-
Amazon Allowing Sellers to use my Trademark
HI,So at first when I complained to amazon about sellers using my trademark they did take them down. Second time, they said that the sellers where allowed to use the terms. It looks like there not using my trademark in there title but when putting it into the search engine it comes up so there using it in there keywords…
-
First time tax return
Mid last tax year I picked up a second job. Self employed processing invoices and invoicing the company in question. It's not loads. I earnt roughly 2.5k last year. So I'm expecting to pay 20% on 1.5k of that with the 1000 allowance. Questions are I have a full time job that I use all my allowances with and obviously pay…
-
What do you wish you'd known before setting up your Limited Company ❓
I'm about to set up a limited company with my husband. We're thinking of having both of us as directors with a 50/50 share split and the registered office as our home address. We've done quite a bit of research but theoretical knowledge is no match for experience. So, we were hoping to get some wisdom and insights from…