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Small biz MoneySaving

Archives for January 2016

Need some advice RE a PTFA / parents group
Hi guys, I'll try and keep this as simple as possible. My daughter started at a new school in Sep 2011. I immediately enquired about a PTA - and attended the meeting shortly afterwards. However, it came across to me that the head teacher didn't think highly of any ideas that were given and their attitude was "I finish at…
Registering as self employed, how much do i pay?
I've recently opened a shop online, its a small hobby job. I don't have another job and I get very little from this hobby job. i am wanting to register as self employed but don't want to be hit by bills I cant pay. I'm 19 and have no idea what i'm doing with this self employment stuff. My profits are below £4000 a year.…
leaky business premises
I have a rented business property with rain leaking through front of building. Builders tell me it needs repointing and new roof. Although the landlord has promised to do this end of March I am concerned about the effect on business. The leak with a bucket under it is the first thing people see when they enter the…
tax on comission, selling on behalf someone else
Hi! I'd like to sell the items online on behalf of someone else, who is internet illiterate, but I am not employed by them. The items are collectables and the selling price would be high. I'd get as small commission from it. All the money from sold item will go to my bank accounts first. How do I go about tax in this…
How much do chuggers get per sign up for Charities?
Chuggers, not only do they blight and harass shoppers at the small market town I work at. I had the pleasure of knock on my door at home at 9pm by someone wanting me to sign up to Macmillian Cancer. How much do each of these chuggers get per sign up? Do they donate there own "hard earned" money to the charity they are…
Accepting Credit Cards
What would be the cheapest and simplest option of being able to accept credit card payments?
Domant Company - Need help with filing company Accounts (AA02)
Hi, Really appreciate any help with the following... I set up a limited company which has not started trading yet. I now need to file the company accounts, which I would like to do via Company House webfiling. I believe it is the AA02 for myself - a dormant company form as I have not started trading yet. I am unsure how to…
Customers who want term time only cleaning-should I ask for pavement/retainer-help
Hi all, I have just started my own cleansing business and it's going well and I have a waiting list. I have a couple of customers who I took on and want term time only as they are teachers. I initially said yes but on review I cannot afford to drop 15 weeks a year pay, in effect half pay for the year. This isn't just…
Small Biz tax avoidance scheme gone bad
in 2013 my accounts at the time advised me to enter into a DOTAS-registered tax avoidance scheme which cost me over £20k and reduced my corporation and income tax bills. at the time I was told "All of our investments along with our Tax schemes have undergone vigerous due diligence by our network tax experts, and only the…
Changing Merchant Account provider
I have just registered with 'SUM UP Payments Ltd' for my Merchant Account Service 3 days ago. Actually I am yet to receive my PIN+terminal. Now the problem is, I have now changed my mind after reading through feedbacks/reviews of their customers (I should have that before anyway), None of the reviews is good. I have been…
MPs discuss late payments to small businesses
On Wednesday 27 January from 2.30pm, MPs will discuss late payments to small businesses. The debate will be led by Alok Sharma, Conservative MP for Reading West. Watch the debate on Parliament TV.
Does anyone use Gocardless ??
Hi , just after some feedback , does anyone use gocardless to collect direct debits from customers ? I've recently started offering payment plans to my customers , and all seems to be going well . The concern I have is a bad experience I had with worldpay zinc who actually closed my account for no stated reason (a while…
Commercial Kitchen Rental
Hi I want to start a food business. Initially I wanted to use my home kitchen but as I have a toilet that leads directly to the kitchen I know it won't be approved :( I want to rent a kitchen either in the evenings or at weekends while I work out if the business is viable. Does anyone know of any directories that might…
Difficulty of obtaining a business overdraft with Santander
I have a small ltd. Year 1: £10k turnover, £4k loss (£4k paid to me for tax efficiency) Year 2: period ended about 4 months ago, accounts in preparation, marginally better than Y1 Year 3: turnover averages about £3k/month so far, good margin but most is paid to me In this industry, Xmas is a quiet period but so far Jan has…
Can I build a house with my Ltd company funds?
Hi guys I have a Ltd company with about £100k in retained earnings. I also personally own a plot of land (as well as my main residential) with foundations already in place. I would like to build a small holiday cottage on the land and rent it out for part of the year. I don't have the personal funds to do this (and I don't…
Accountant Expectations
Hi all, I became self-employed late last year and set up my own limited company. Since then, it's been going better than planned and I feel like I need better advice about tax etc. I went with one of the big national accountancy firms, but I feel a little bit disappointed. If I have a query, they're quick to reply and…
Self employed - where to start?
I've accepted a job as a full time caddy having only ever done this on a casual basis in the past. I'll be self employed as a contractor (I have to bill my player for my fee) and settle my own travel expenses out of the agreed fee (paid in €'s). Not sure where to start in terms of bank accounts and paying tax / NI, after…
self employed pt time cleaning-do I need a business bank account?
Hi all, I'm not sure If I need one? I've recently become self employed and set up cleaning. I'm only working 3 days a week which is currently 16 hours a week. Do I need to have a business bank account, currently customers are paying into my first direct account (only in second week of working) Any advice would be…
setting up LTD
Hi guys I'm forming a limited company. With myself only as a director and nobody else. I need it for contracting work. I've been on companies house to register. In terms of shares etc. .. what's the best thing to ? And also is it best for me to be worker of my Ltd etc in tax point of view ? How do I do the share bit ? Also…
Questions to Chancellor of the Exchequer - 19 January 2016
On Tuesday 19 January, the Chancellor of the Exchequer answered questions from MPs on issues relating to small businesses. What fiscal steps he is taking to support businesses. What fiscal steps the Government is taking to support manufacturing exports. What recent representations he has received on proposed changes to HM…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Small biz MoneySaving

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