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Small biz MoneySaving

Archives for May 2019

Expanding/second business
My husband has run a cafe for 10 ish years and an opportunity has come up to change locations. Ideally we would like to sell the first business but there will be an unknown overlap period as we have 3 years left on lease. Is there a way to avoid (legally) vat registration as our income will soon exceed threshold…
Self employed already and second business (sort of)
I have been self employed for 7 years. Last year I published a book not related to my current business, which has a small income and a few expenses. Do I need to declare this as a 'second business' and in that case do I just write 'author' or should I add it to the current business where it says 'any other business income…
Limited company
I have a ltd company and I’m the only director and employee. What are the best ways to get money out of my business account and into savings and investments, the most tax efficient way.
First VAT quarter only 3 months?
Please ignore sorry can’t delete
limited company question
Is it possible to start a limited company but not draw any income from it and keep all profits in the business? I am full time employed and do not need the extra income just yet and would like to keep tax as simple as possible, what tax would the business be subject to and in the future (possibly 5-10 years) when i need to…
How to advertise service on Facebook Marketplace?
There seem to be plenty of services advertised on Facebook Marketplace. However when I have attempted to set one up, all the categories seem to be for selling goods. Can anyone give me an idiot’s guide?! Here’s hopin’ & thankin’ in advance!
Company Car?
A lot of questions for a lot of subjects, hence the number of threads (sorry!) My company is based from home, probably 99% of my driving is going to be for business, I own my own car and so I am wondering, is it better to own it myself and 'claim' mileage, fuel etc or should I sell my car to my company? Which would have…
How are 'kickbacks' dealt with in terms of accounting?
Hi all, I have a fledgling Property Maintenance company and we intend to work with a particular Property Management company who can potentially put a lot of business our way. They look after properties for landlords and will be instructing us on maintenance jobs when they arise. After a job is complete, we invoice the…
Starting a new business if on PIP
Hi. I have chronic illness (ME/CFS) and PTSD due to a trauma, I was attacjed 6 years ago. Anxiety and agoraphobia so I rarely leave my home. It's tough and life can be pretty lonely. I've recently started knitting and made blankets to send to friends. I can do this on my less fatigued/pain days and its given me a bit of me…
Fuel cards
Hi All, I'm interested to hear peoples thoughts and experiences on fuel cards? My company (when running) will do quite a lot of traveling as we will be going to clients instead of them coming to us (home based). Do you find fuel cards work for you? Thanks
Book keeping/receipt management
Hi, I'm letting out a property shortly and am looking to set up a simple book keeping spreadsheet and perhaps use some kind of app to manage receipts digitally. Just wondered if anyone had any recommendations or could link me to a simple booking spreadsheet I could start with? I've been playing around in Excel and…
Employed and self employed
Hi all, I'm hoping someone can shed some light or experience of my current situation. I am employed full time taking £22k per year. I am about to register a Ltd company, so will also be self employed. When I do my self assessment at the end of the tax year I will obviously document my 'job's' income and then the dividend…
Company account
Apologies if this is a silly question. I have read a million times over that client entertainment can not be claimed against for tax, however, this is a very common practice for creating business opportunities in my field. Can I pay for the meal on my company card? After all, it is a cost required to make for the business?…
Best receipt management app (ideally syncing with Xero automatically)
Hi all, I've just started a new company and use Xero as my accounting package of choice. Unfortunately, to add their receipts management app costs an extra £5 per month, which is a bit steep, especially considering the monthly Xero cost of Xero itself. Are there any other receipt management apps that I can easily use to…
Mobile card payments
Hi, Looking for a mobile card payment provider. Anyone use them? could you give an honest review of your provider before I decide on one. The main elements I need are as follows. Mobile card payments Payments when card isn't there Web payments Thanks
Below VAT threshold - Making Tax Digital
I am planning on registering for VAT but will not be earning above the threshold. Making Tax Digital only appears to apply to companies that currently trade above the threshold. HMRC's page about how to get ready has a section referring to turnover being below the threshold but just pushes signing up anyway. I don't want…
Small Franchise Contract Help
Hi, I bought a franchise for £5995.00 from the Franchisor/Director of the company. I have now sold that franchise for £10,000.00. In the original contract I signed, one point states: Prior to the sale of the Franchisee’s Business the Franchisee shall pay or procure the payment to the Franchisor of such sum as represents…
Moneysoft Money Manager Software
Does anyone use this package & (hopefully!) operate VAT under the cash accounting system? I'm pulling my hair out trying to set it up and the helpline is worse than useless!
Logo Design - Recommendations
Hi, Can anyone recommend a LOGO design company? Thanks
vat advice
I have small landscaping business and approaching the vat threshold. I have a few questions and hoping people who have been in same situation may be able to help. 1. I sometimes use a sub contractor to do some of the work. he is not registered for vat so doesn't charge me vat. When I do a quote for the client and add his…

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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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