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Tax query...
Hello, hopefully someone can help or maybe point me in the right direction please. If a company buys cars to lease to other companies, ie: as a car hire/lease company, what are the tax rules on the purchase and what they can claim. Are they the standard rules, so the same as if they bought the car to use or for an employee…
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Making Tax Digital for Income Tax
My accountant has retired and I'm in the process of sourcing a new one but proving harder than I thought. Having been picked to be questioned by HMRC's market research on the above, I've been trying to source a new software package to trial but have input my requirements on the Govt website and worked through the majority…
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Using part of my house as a shop
Hi, I would like to use the hall in my house as a shop. It opens onto the street (there are shops further along and one opposite). The hall measures 2.25m by 3.25 m out of 189 m squared for whole property. I want to sell yarn and fabrics so would not have a high volume of bulky deliveries or customers. I would run it my…
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Registering Business and Keeping Details Offline.
I'm starting up a very modest small business from home later this month as sole trader. As my home borders some insalubrious properties and areas I need for my business details to be kept offline. I'm concerned when I register my business with HMRC my details might be online. It would pose a security risk to my property. I…
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Residents Management Company Credit Score
Hi, we’re a small (7 flats) RMC on a variable energy tariff for the communal lighting and fire alarm system. We are paying nearly £3 a day standing charge. We asked our supplier to move us to a fixed contract but they said our credit score was too poor. I use Credit Karma to track my personal score but how can we do…
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Tried Budgeting to Avoid Debt, but It Didn’t Work for Me
I set up a budget using apps, tracked my income, and wrote down every expense. Initially, it worked fine, but over time, I found it really hard to stick to. Unexpected expenses kept popping up—whether it was an urgent repair, an impromptu night out, or even just impulse buys when I felt stressed. It became overwhelming,…
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Companies House Registration
I’m not sure if this is the right forum to advise me? I am one of a dozen of local artists and makers - a mix of amateurs and semi-professionals. We are forming a not for profit group called Chew Creatives, run on a voluntary basis. We are not a registered charity. We do not charge a membership fee. We are also a nomadic…
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Small Business With a Large Charge Back and no recourse on Shopify
I have a small business on shopify and I have just have a customer do a chargeback after me doing a partial refund of $2000 and calculating the costs of shipping before paying the final amount as she refused delivery so in this instance i thought it fair to charge this as it is in my refund policy that shipping will be a…
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Beating business savings interest rates with Money Market Funds
I'm posting this partly to share what I've worked out and partly in case anyone has any comments to add. At the time of this post, the best instant access savings rate for businesses seems to be about 3.15% (Recognise Bank). One way to get a lot higher rate than this is for the business to buy a money market fund (MMF)…
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Dell refusing to replace brand new faulty laptop
Hi, Unfortunately I ordered a brand new top-of-the-range Dell laptop around 5 weeks ago, as a business customer. It eventually arrived and it became immediately apparent the machine is unfit for purpose; it has pixel lines running through the screen making design work impractical and most applications are incredibly…
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What's the point of AIA? (in relation to corporation tax)
So if i run a small LTD, We turnover 200k in the year, profit of 50k. if we buy an item worth 100k it goes into the AIA and it's offset for tax purposes. Lets say we depreciate it over 5 years, 20k a year. in year 1 I have 50k profit, +20k non allowable depreciation, then 100k of AIA, so -30k for tax purposes which I can…
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Sole trader - quit - is old stock now business or private goods?
So I was a sole trader flipping goods online. I was deregistered because I didn't meet the £1000 tax threshold and now have old stock on my shelves. Does that now count as chattels, or if I sell it is it still a business deal as I bought it for purposes of profit? Called HMRC but I don't think they knew.
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Amazon start up
Hi, is there anywhere that I can access an idiots guide for starting up an amazon account for selling. I've managed to get a far as them wanting to take the first monthly payment. Before I take that step what happens after that, as I don't even have any inventory to sell yet. Thank you
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Small business account & account filing software
I have 2 very small Ltd businesses, one I have a free business account with Mettle which gives me free access to use FreeAgent to file my accounts & tax. It’s simple, efficient, linked & free. I'm very happy with it. My 2nd business is currently dormant, I file my dormant accounts through the government website however all…
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Directors Loan
I am about to take 30k directors loan out of my small company. The company can easily afford this, so no issues there. I need the money quickly to fund repairs in my other business (BTL, not limited company). I am aware the money will have to be repaid in full, and I’ve experience of directors loans in the past, although…
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Ways to reduce standing charges on half-hourly meters?
I’ve just moved my business into a new premises and discovered it has a half-hourly meter installed. Our electricity usage will be very low, probably under 2000 kWh a year, but I’m being quoted standing charges of at least £13 per day, despite going to several suppliers. I've also talked to the energy broker we've…
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Merging adjacent units
I have 3 adjacent units, which total 6 individual street addresses, trading as a bar. There is only one entrance (with several emergency exits). I receive 3 different business rate bills for the bar. Would I save money by approaching the Valuation Agency and asking for a re-evaluation and a single bill? I don't know…
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HMRC and stopping payroll
Limited business with 2 employees (both directors). Not much activity recently so wish to stop paying salary for both directors for a few months. Do I need to tell HMRC, and if so what route please? Thank you
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16 yr old
Hi, my daughter (aged 16), wants to set up a business. She's needs insurance but you need to be 18 to get it. If I run the business in my name, can she invoice me, and I pay her the profits (I don't want to pay tax on her business)
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Business Investment for a Start Up
Hi Im looking at starting a business up, but would like some investors in with me where. other than crowdfunding is there anywhere i could meet such people of sites ? Thanks
