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Useful guides from MoneySavingExpert.com Do I need a business bank account?Coronavirus Self-Employed & Small Limited Company Help
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how to fill Self assessment Page 13, Benefits from your employment
Page 13 of 15: Benefits from your employment - use your form P11D(or equivalent infomation) 9 Company cars and vans shall I fill the BIK total amount: £1200 Many Thanks
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Haggling business Insurance
Does anyone know if direct line will reduce business insurance renewal quotes if you call them? Increase this year is ridiculous. When I called them about car insurance last year they reduced it without question. I stupidly contacted them via whatsapp this time around which is obviously an even easier way for them to tell…
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MTD - Soletrader - Stress
I am a non vat registered sole trader selling online mostly on ebay and by website - all my sales go through a Starling business account . I usually fill in a spreadsheet with all my sales / expenses and at the end of the year pass it on to my accountant who looks over all the files and submits them for me . Come April I…
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Partnership liabilities
I've run a small business for the last 20 years with my husband. It's a 50/50 partnership but with no legal agreement. For various reasons I have reached a point where I want to leave the business partnership. What is the process for dissolving a partnership (OH will then set up a Ltd Co to continue the business)? We have…
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Is there more benefit of becoming a Limited Co versus sole trader (Jan 2026)?
Hi Forumites! Happy new year!! I have recently been made redundant - so with all my skills have decided to start my own business. I've read that the tax rules have changed as well as the cost of compliance, means there is now a smaller gap now to being a sole trader versus Ltd Co (tax wise) and actually, you are able to…
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Tax increase as a percentage of earnings.
We all the talk about fiscal drag due to static personal tax allowances I would like to know if I am alone in seeing the percentage increase from when I was working to what it is now that I am retired? When working my combined tax and national insurance deductions were around the 40% mark of my monthly earnings. Now that I…
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Should I change year end date re MTD?
Hi, I am already using MTD and wonder whether it might be a good idea to change the year end for my husband's business (Sole Trader turnover £50k) from 31st December to 5 April. Thoughts please? Thank you in advance.
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Energy broker disputes
Buisness Reduction Services ( NW) I am seeking help and wondering if anyone has experienced or resolved a dispute with Buisness Reduction Services ( NW) and PreAction resolution reached, acting on their behalf . At 0717 I had a cold call from a private number . I had just recieved keys to begin work setting up my first…
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Building website for small business
I'm currently trying to help my wife set up her business. We are currently looking at setting up the website however I'm aware of several providers where you can design your own. Does anyone have any recommendations on which on to use? I've gone through a number and not sure which to go for. I was thinking about Wordpress…
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Holiday rental property help
Hi, we would like some help regarding the best way to set up a holiday rental business. Currently, we have a home property with no mortgage, which is worth about £350K (but no rental potential). We also have some savings which we could put towards a business. If we wanted to purchase a bigger place with rental potential,…
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Sole trader into Partnership
Hi! 👋 Just wondering, if my wife and I are both sole traders and would like to join into a partnership, what would need to be done apart from creating a new business? 🧐 I was trying to find some advice online on the gov.uk site, but only found that we need to create a new business as a partnership and carry on normally,…
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Sumup Air payment settings
Using the sumup air device and the phone app. After inputting the amount on the checkout page and pressing 'charge' it takes you to the payment methods page where you select the card reader or payment link. Is there a way to remove the payment methods page and make all payment by the card reader only? If you are doing…
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Course attendee wants refund due to absence
I run a course that that runs for a few months, and one person attended for the first few weeks but then messaged to say they were unable to attend due to illness, and would update me on when and if they would be back but didn't. The course was fully booked and I was unable to offer the spot to anyone else. And now after…
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Making tax digital questions
Hi, I’m a taxi driver and up to now I’ve written all my income and expenses in a book which I total up at the end of the year and send to my accountant that then does my SA. I have some questions about MTD, my accountant has said that I don’t need to do anything different other than give him the figures every quarter is…
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Limited company unpaid invoice
Hi I was working as a limited company consultant and dealing with a number of projects for engineering consultancy. My line manager asked me deal with a number of projects and getting progress for projects and asking me to complete the tasks and assigning me projects. I was managing my own hours but was billing client…
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Non refundable deposit
Hi All, The forum team advised me to post here Just before I explain my issue. I live in Scotland. Apologies about the length of this post Our son (25) runs a very small website design business. All his customers are local people who are very happy with his service. He has multiple disabilities and struggles with…
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Side Hustle Tax Question
I started a side hustle on ebay that has slowly grown over time. Initially it was designed to pay for the hobby (3D printing) and that is really it. Under the new digital tax sharing scheme I have now gone over the threshold for the tax year at which point HMRC/ebay are deeming that my hobby sales are a "business". I have…
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Mettle any good? (Not in the MSE business bank accounts article)
Hi all, I'm just setting up a business bank account. I've seen on the forum and in other places that people use Mettle, and that the FreeAgent software is a good bonus. However, it is not featured in the MSE article on business bank accounts, and I can't find any info on transaction fees on the Mettle webpage. Is it…
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Tax return question for 24-25
I’m just submitting my tax return for the 24-25 year. I've noticed this year because my profit is less than £12750 but more than £6845, I do not need to pay any national insurance. Is this correct? I normally pay both class 2 and class 4. My profits are down this tax year so I don’t need to pay class 4? Also, it asks of…
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Best Business Bank Account for New Business Startup being paid in Euros
Hi, I'm setting up a new limited company in the UK consulting for a business in Europe who have agreed to pay me monthly in euros. Rather than opening a business bank account and the having said bank use it's own unfavourable exchange rates whilst attracting possible transaction fees converting euro's to pounds, can anyone…
