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Small biz MoneySaving

Archives for February 2022

buy products from eu company, product guarantee？ 14 days return?
I found a website which is a company registered in eu country, they has sale office and warehouse in UK, but not UK Registered. If I buy the products from this website, how about guarantee? If It run into trouble, it seemed not easy to deal with? thanks
5 yearly upward only to market rent...
We're looking to get a sign up to a 10-year lease on a small warehouse. The landlord has a break at the 8-year point. Leases in neighbouring properties end then, and they may want to do a big refurb. With this in mind, they've lowered the rent to 66% of market rate. This all weighs up fine for us, but we are concerned at…
Car for business
I am an self employed electrician who does agency work on work sites. I need to replace my car which is an estate for my work tools etc. With second hand prices so high I’m struggling with options around £8k as a “normal” purchase. Can anybody give me any advice on purchasing a car as a work vehicle through my company?…
Help with Xero
Hi, I'm a new user of Xero, Self employed, building trade, VAT registered, trying to get ready for MTD. I'm hoping some helpful person on here, that uses Xero could answer a few questions for me. 1, I buy small hand tools quite often, but I don't know what code to put them under? 2, Also flooring materials, again not sure…
Considering consulting - tax questions about first assignment
Not sure if this is in the right section as it's related to tax, self employment and freelance/consultancy. I currently have a full time job but i am dripping my toe in the world of consultancy to see if it's something i can do full time and leave my current job. I currently earn 50k so in the 40% bracket. I have a small…
£1000 Allowance
I am a collector/hoarder & have decided to thin down my collections & not leave a problem for my heirs to sort out. A friend says if I sell more than £1000 worth in a tax year that I have to declare it to HMRC. I have looked on the HMRC website & there is a section on "Tax free allowances on property and trading income"…
How long for tax repayment?
Hi. This is my first year of filling in a tax return as I have just set up my own business. I am due a repayment as I have over paid tax, which I have requested, but I am just wondering how long this usually takes. My husbands repayment came through in 48 hours, from when he requested it, but mine has been a couple of…
Opening a Shop - Free Business Rates For A Year?
Hello, I was interested in opening a shop and I was told by someone that if you are a new business you would not have to paybusiness rates for the 1st year. I do not believe this to be true as I have not seen any information regarding this. However please could someone confirm this. I tried to call my local council and…
Cheapest/best shipping solution for new ecommerce business?
My husband and I are planning to start a fitness equipment and accessories retailer (Miller Fitness Equipment), and sell across UK mainly, and possibly Europe/US. Some items will be sold via a drop-shipping service from suppliers we’ve contacted (mainly the really big items), but for small to medium size products, we plan…
Invoice - date range
Hi, on my invoices for one of my customers its more convenient for us both if i calculate hours and cost per week rather than per day, e.g. February Wk1, Wk2 etc. Would this be acceptable to HMRC? Thanks
Energy Agent mis-sold contract with EDF -who now void contract, massive price hikes - Advice please!
Hi There, This is my first post so bear with me if I make any Faux Pa's (I have put this in the business forum assuming I may get told off if in the consumer area). I'm a partner with my parents who are in their late 70's, in a family business. On 26th August last year, my Father signed up with Bionic to change our…
Small Business Scaling
Hello you wonderful people, hope you had a great start to the week. I have for several years ran a business on my own, starting blogs and doing online marketing. I even experimented doing some buying from china and re-selling on eBay and made a small profit. I have retained profits but struggle to know what i can do to…
Business account funds have been limited!
Has anyone else experienced this issue with their business account? Account funds have been removed because the bank wants you to complete a standard/routine form to update your account details - I hasten to add without informing you first? 7:30am this morning I see that my TSB business account balance is correctly just…
Delivery help
Hello! Back in December, I sold 2 meter boxes to a customer online. Day of delivery customer called to say they had been damaged in transit which I sincerely apologised for a sent replacements out and then claiming the cost from the courier. As the goods were delivered on the 14th of that month and I hadn't heard from the…
What sort of car insurance should I get?
This thread is specifically about what sort of insurance I need to get for my company car which I will be using personally. I know some business owners just get private insurance and declare that the car is company owned. However as I plan to put graphics and branding on the car, will personal insurance cut it? Do I need…
My Accountant has passed away and my taxes due
I have just found out my accountant of 15 years who was a sole trader passed away, and her funeral was last week. Her daughter contacted me after a few of my emails to find out my accounts progress to her Mum to tell me whilst I was semi awake. Does anyone know what happens as her daughter suggested that there would be a…
Public Liability Insurance for individual with IVA
How do I get PL insurance with an IVA on record? The IVA was taken out four years ago, with one year left to pay. But I keep being refused quotes because of the IVA. I have a small hobby baking business but wish to sell at markets. Markets require proof of liability insurance certificate in order to acquire a stall.
VAT Question
Hi everyone My friend asked me a question about VAT on new builds yesterday and I'm not quite sure about the answer. He is a subcontractor builder and has just started a job on a new build where he has been told he does not need to charge VAT (it is a qualifying build). He has, over the past few years done work on other…

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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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