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Small biz MoneySaving

Archives for May 2017

Closing down my small business, querying the term 'licensee'.
Hello, I am hoping somebody can help me. I am closing down my small business and giving notice to my landlord. I rent a portion of a shop floor to do my work, all utilities/rates are included. In my 'contract' - it is referred to as a 'license', I am referred to as the licensee and the landlord as licensor. What is the…
Sole trader using personal credit card - vat/accounts
Hi i help with my friends business dealing with phone calls and doing invoices and basic accounts. He is vat registered and aims to go limited soon. A few questions: 1. Is it worth me doing a book keeping course 2. He wants to pay a big bill to a supplier with his personal 0% credit card, how to account for this and be…
EU safety testing and China clothes
Hi I'm looking at setting up a business. gift boxes filled with items one thing I wanna put in is a dress for a child. I found a China wholesaler but am unsure about the EU requirements have been searching online for days and got no where. The clothing has safety category GB written on, how to wash and clean also says what…
Business Mobile
I work through a small limited company. My accountant has suggested I get my mobile phone and contract through the company. However when I go to a phone company such as EE or Carphone Warehouse, they both want to have the contract ultimately in my name (for credit check purposes) with the company mentioned. I'm not sure…
Corporate Debt Collection
Hi all, Hoping someone might be able to shed some light on what can be a fairly worrying subject. Bit of background, I am a 50-50 director of a limited company. 8 months ago our business completed a video which was part of a 2 video deal with a company. They agreed to pay 50% deposit and then the 50% upon completion of…
Important Company Dates
Hi, Is it possible to get a listing of important company dates for filing returns and all payments (inc. VAT) for the year ahead on the HMRC website? I've almost got caught out by something I agreed was to be handled by the accountant but was done submitted on time. As director I'm still responsible but I'd no visibility…
Giving to Charity
Is there a way of determining what paid employees earn in a charity (i mean the exec staff)? I want to avoid giving to charities where their earnings are IMO too high or where the has been controversy surrounding them. Thanks.
Switching from Sole Trader To Limited
Evening everyone So we've just completed our first Trading year accounts and the first year in my opinion has been phenomenal in growth starting with £500 we finished with a turnover of £33,000 and Net Profit of £10000. What I want to know is this I am considering now switching over the company to Limited instead of myself…
Wowcher/groupon book keeping course
Hi all, my husband has recently started up as a ltd company, at the moment we plan to pay someone to do the book keeping side of things, as I feel I don't really understand when it comes down to the tax and vat, filling in the forms itself looks very daunting. We thought pay an accountant for the first year so I don't have…
Best Shipping/Courier options for Ecommerce in UK
It's been a few years since I worked with e-commerce and shipping options. Back then, we imported a spreadsheet with our orders into a Royal Mail service that printed off some paid labels. Probably still used by many now (can't remember what the service was called, you had to apply to Royal Mail direct) Are there any good…
Farm shop & Tea Room
:hello: lovely people! I need to pick your brain on a business venture I'm about to throw myself into. I want to take over a farm shop and a tea room in a country side location. Big car park, garden on the side, huge potential. What would you expect to find in a typical farm shop and tea room? Type of produce Deco Food &…
Recommendations for club accounts for non-charity
Hello. We run a small project that benefits vulnerable children. We're not registered as a charity, and have so far self-funded what we do. We're small and simple, but need to do a small amount of fundraising now to help towards costs. It's been suggested we open a club bank account, and we're looking for recommendations.…
Switching from Flat Rate VAT to Standard VAT
Hi, I'm going to be changing from the Flat Rate Scheme to Standard VAT and I've got a few questions: 1. Can I get the change period altered to be the start of May - or must it go to the start of the next quarter? 2. My understanding is that I just write them a letter telling them of my request to change schemes and when I…
Setting up a new partnership with HMRC
Complicated situation but already work full time, PAYE. I also have a sole trader business and complete Self Assessment for that business - I do it myself and don't use an accountant. In 2015 I started working with another person and we decided to form a partnership. Our first paid job was in August 2015 and we've had…
Insurance policy for non payment by customers ?
Hi , I'm a sole trader and offer payment plans to my customers , Things have gone well in general with only the odd bad payer here and there . I'm wondering is there an insurance policy that would be suitable to cover any losses due to non payment by my customers ? I'm a flooring installer and typical agreements are never…
Trade Mark query for Martial Arts club - HELP.
Hi, I hope someone on here can help me out. In my spare time I run a small Martial Arts class a number of nights per week - non profit. I have recently had an e-mail from someone in the same field saying that I am using his Trade Mark as my Club name. The fact is the name is similar but for one different character in the…
Charities and Small Claims Courts
Hello All, Regrettably I need some advice. A charity owes me a substantial sum of money for which it looks as though I'm going to have to use the small claims system. They are now refusing to respond to me in any way. My question however is who do I send the claim to?money claim allows 2people I believe but surely the…
Paypal Alternative
Hi , I am a small independant online retailer selling mostly refurbished / used musical instruments 95% my sales are online through ebay / reverb . I am looking for an alternative to paypal as the fees are taking a big chunk of any profit I make , I know most people prefer to use paypal due to the ease of use but fees are…
Deceased sole trader lease debts
I wonder if anyone may be able to advise me on this issue. My husband died at the end of last year. He was a sole trader and leased a commercial property in his name only. I am the executor of the will. When he died the business was passed to a colleague of his (the assets were worth very little as it had been run down due…
Setting Up A Business Partnership
Hi, my mate and I are in the process of trying to set up a small business cleaning windows, gutters etc. This is going to be a part time job we can do around our shifts. We are putting in the same amount to get us started but have been advised to get a partnership agreement written up by our accountant. My question is, if…

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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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