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Small biz MoneySaving

Archives for January 2018

Closed Business - Stuck Funds
Hi, my partner closed her business and asked her accountant about what she should do about the funds. She was told to leave them there and they'd instruct further. The bank has now closed and the funds are locked in a closed bank account and Natwest have told her that she has lost the money and it'll go to the Treasury. Is…
Fixed Assets - computer equipment
Hi, Doing my first accounts and not sure how to record my computer which was purchased specifically for business use. It cost £1449 mid-November and company accounts run up to the end of April the following year. A) Are my fixed assets in year 1 £1449? B) Or do I allow for 33% depreciation so assets in yr1 are £970? And…
Self employed need advice
Im self employed and just need some advice on whats below and if its tax deductable... Insurance I only have liability insurance do you think I should have some kind of illness insurance, injury and /or health insurance and life insurance? Contents insurance? Purchasing a car and tax deductions , I was told its better…
Me and fiance thought of a business idea... what's the steps of making it possible.
Buisness idea: We're wedding planning but both finding it difficult to find a venue woth our wants and needs. We thought of the idea that there should be a wedding builder that helps piece every single thing of the wedding together to make it pretty much exactly how you want your special day to be. For an example, we both…
National Insurance for both employed and self-employed
I've been looking at turning a hobby into a part time job. I'm currently working full time and i'm a little unsure about what national insurance I need to pay on my self employed part time profit. I'm expecting my profit next year to be about £3-4k, will I need to take my paye income into account when working out my…
Mutual NDA and personnel
Hello. I have a small business and do ad-hoc contract work for a much bigger company. This work is low value and sporadic so I'm not too bothered for it. We have a mutual NDA that covers 'confidential information'. A couple of sales staff of the larger company have approached me asking if we have any job vacancies. Im…
Business Credit Checking Service
Hi I'm looking for a recommendation for a business credit checking service please. I have been using Credit Focus for years - originally purchased via Barclays Bank at £10 plus VAT per month, following their split with Barclays at an increase of £12.50 per month & I have now just received an email increasing to £20.83 per…
Experience of craft fairs
**posted in another forum but was directed here. I wondered if anyone has experience with craft or vintage type fairs or general fairs (that are not necessarily craft/vintage, but market place types)? I really fancy attending events and fairs and I would be selling wholesale lotions & potions that I would be handcrafting…
Google search and service address
Hi I am looking at starting a small business, never done this before so help is required please. Has anyone used a service address? Or can reccomend a company? Not expecting muxh post but when i do get some i would like it to be forward to me. Does anyone know how to get my company to the top of a google search by…
Buying a business
Hi All, Just checking we are going along the right lines in seeing what cost are involved in purchasing an established company we have been looking at. * Business Price * Solicitors Fees * Landlords Fees for the change on the lease * Insurance (once purchased) * Accountants Fees Is there anything I’m completely overlooking…
Trading on eBay & sole trader vs Ltd company
Hi forum. This year I plan to support some local charity and non-profit events by providing sound & lighting equipment and engineering. I have other full time employment and right now this is more of a hobby with a view to a potential career change if (a) I enjoy it and (b) can make paying work out of it. Although not…
Wages etc
Hi I have recently set up a business and at the beginning I occasionally got more work than I could handle. Through various contacts and people I've met and worked with over the years, I managed to cover some of the busy times with various staff and paid them cash on the day. Over the last 6 months this has happened maybe…
Self Employed - No record of previous PAYE earnings
My ex has been self employed from March 2017. Jan - March 2017 he was working as a dog handler security guard on a PAYE basis. When he left, he had huge problems getting a P45. No P60. The company said they had sent it, eventually emailed a blank P45 after many requests. This company were always very very difficult to deal…
Selling on Etsy
This is my first post in this forum, which I only discovered recently :) I am seriously thinking about setting up my own Etsy shop to sell my handmade (crocheted) stuff...this is all new for me, and obvioulsy I want to do it right... My question is what are the legal requirements for such a shop? What do I need to do…
Ltd Company Card - Account Name?
Hi I am sole director of a limited company. I have received my company account card. However the card is in just my name and doesn’t have the company name on the card. Is this right? When I go onto online banking, it doesn’t give account holder name or have statements yet as it’s brand new account , simply has my details…
Buying existing company and staff advise
Hi, My partner is looking at purchasing a well established soft play area and cafeteria business we have currently found out the information required other than it comes with 10 members of staff. I’ve spoken with Ernest Wilson who have advertised the business regarding staff contracts at this present time they seem they…
Verbal Contract
Evening all, I will not bore you with the details but basically I am a small business owner and have been stung by an energy company who say they have a verbal contract with me whereby I agreed to a contract over the phone. Me trying to get out of the contract is now becoming rather messy and basically I want to access a…
business name idea
Hi guys im struggling for a business name that has a domain too. I do stickers for furniture, like vinyl graphics on cars but for furniture and kitchen cabinets. So far I have Furnituremagic furniturewrappers Furniture doodles Relive Furniture really looking for something, and would love your help
Annual Company Accounts and Credit Card Dates
Hi, I'm filing my first company accounts and have a few credit card transactions that span my end date (30 April). If the transactions took place in April but the credit card was paid on May 1st do they go in my first year accounts? Or into year two? If they do go into year two do I need to account for them as money owed…
small biz registered address servicer provider
Hi a family member runs a Ltd company (office work) where company address is from home, but registered address also their home. Getting fed up with all the junk mail etc. Is there a service provider where the company registered address can be changed to as a mail box drop, rather than the home address? thanks

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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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