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Small biz MoneySaving

Archives for June 2020

Directory enquiries company has my personal address listed against my limited company
Not entirely sure which section to post this in so apologies if its wrong but will try here first. A directory enquiries company phoned my business and asked if they could update the info they have for my company. She then proceeded to read out my personal home address which shocked me as we have been a limited company for…
Companies house can't file accounts via webfiling
Hi, About to go into penalty period i.e accounts overdue and I'm unable to file accounts via webfiling I've left 5 messages via customer complaints no replies since 1st message left 1 week ago + currently phone lines are closed Error messages keep logging me out then it's an issue with cookies I've obtained error…
Small Business loan/backstop loan desperate advice needed
We would be grateful for any advice given please. My husband owns a 50% share of a property worth £400,000 which has no mortgage on it, together with a field worth £150,000. Although he is rich in property, we have no actual funds and scrape by each month. He has registered a business and looking to start up his own small…
Best Company Type to Go For in Buying House Overseas - Advice Please!!
Hi Guys, My Dad, Brother and I are talking of collectively buying a small property in Bulgaria to run as a retreat space, offering tailored getaways centred around a few days of rural living, open fires, traditional food, enjoying the beautiful mountains and less 'rat race' pace of life (yoga, photography, cycling, hiking…
Image using on website
Hello all, I'm not sure of the correct category in which to post this, so I hope I've selected an appropriate one. My borther-in-law is a small business owner in lawn care, specialising in sports turf management and I am designing his website. Over the years he has worked on the European Tour, etc. and has worked with…
Recycling for Good Causes - has anyone used them for fundraising?
Looking at using Recycling for Good Causes to help raise funds for a couple of local charities/rescues nearby. Are they a good company to deal with? https://www.recyclingforgoodcauses.org/individual-donors/
Crazy high charge from TNT/Fed-ex month after delivery
I set up a new business last year and have been ordering shirts from Turkey. Usual cost is around £3K, and I get a £30 customs bill from TNT (on top of shipping fee) This time I bought around £4K worth of stock, and my TNT bill has come to around £1800! That is almost 50%. Some of it is claiming to be VAT bill but I paid…
Ltd company advice
Hello everyone, Hope your all well? I registered a limited company while living in London 3 months ago, haven't traded yet & its an online company. I've now moved back to Scotland to be closer to family am I right in saying my registered office must be in England/Wales and can be a virtual office provided by the liked of…
Taxes on hobby business
Over lockdown, I have rediscovered my love for art and have began doing commissions and prints. It's been better than I anticipated, and I'm now booked up for quite a few weeks, which lead me to think about when to start paying taxes on this. I have read that an annual trading allowance of £1000 is allowed, and this does…
Filing my own corporation tax return / accounts
Hello, I would love a bit of advice here. Context: I opened a very small limited company a year ago to provide a structure in which I create bespoke items for individual customers. I am the sole member of the company. The company has not seen any customers during its first year and all financial activity consists of…
Home Office Rent
Hi, I run a design studio via a limited company structure. Earlier in the year, I rented three desks at circa £380/desk + VAT in central London. I now work from a home garden office. Given that I was paying £1,140 for my office space earlier, what is to stop me paying this as an expense to myself in future, given I have…
How to ship goods from China to UK Home
Hello All, I need some assistance and hope that you may be able to help me. I am planning on setting up a small online business but can not find any basic information on the following: 1. The manufacturer has provided costs FOB so they will deliver to the port and then require the shipping company to transport these to the…
Backdated Business Insurance?
I have outstanding invoices from a client and it's highlighted that I don't have insurance for consulting work I run through my company. Are there any known insurers that can cover backdated, with potential disputes outstanding? Policybee are getting back to me in a couple of days, but I want to speak to as many as…
Small business. Name dispute
I’ve recently opened up a small business on Etsy selling crystals: I also opened up an Instagram with the same name as my Etsy. A lady on Instagram contacted me to say because her Instagram business name started with the same reiki term as my shop starts with (it’s a reiki chakra) but hers does not contain the word…
Cancelling an invoice from a previous financial year
I'm registered self employed and arranged to do some work for a small charity back in March. They were keen that I invoice them immediately so the invoice would fall in 2019-20. Now they don't want to do the work and I am happy to cancel the invoice but I have included it in my Self Assessment tax calculations for the…
Car Lease after finishing with my Ltd Company
Hi I am waiting for a straight answer from my accountant and just wanted to see if anyone has a view. I worked through my own limited company for 12 years, I took out a new lease car agreement in my company name in April last year, but decided to give up contracting and secured a permanent role in September last year. to…
Starting a small business + expenses
Hi, Hopefully I have posted this in the right forum, feel free to move it if not. Basically I am looking to start my own online retail business in the next couple of years and my plan was to spend the next year or so investing heavily in stock, whilst still employed so I eventually have enough inventory just to up and…
Taken on a freelance writing gig – now what happens with tax?
Hi Everyone, I've recently managed to pick up a bit of freelance writing work which is great! I have signed a piece of paper with an agency which states that I will be responsible for my own National Insurance, taxes, pension etc. So now what do I do? I'm guessing that I will have to do a tax return so I'm keeping a record…
Dormant Accounts with Net Assets
Hi. A couple of years ago, my neighbours and I set up a company to purchase the freehold to our building. As we have no transactions this year we're filing Dormant accounts. Our share capital is 3 (3 directors with a £1 share) and our net assets are £15,000 (cost of the freehold) but on the Companies House form I get the…
Starling BBL for business in first year of trading
Please does anyone know what starling mean by ‘established customers’ who they are giving priority for a BBL please. I started trading last September and opened a personal account with starling on 4th March this year converting it to a business account a few weeks later Someone has told me that if I didn’t have a business…

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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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