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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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Recommendation for book on doing own accounts as a sole trader
I am intending to register as a sole trader shortly, and would welcome any recommendations for a book on how to do my own accounts. The business will be a small sewing based business, run from home, and so I doubt that I will make enough to justify paying someone else to do them.
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Resale of Tickets (Trade Show)
Hi there, I run a VAT registered business and bought 4 tickets to a trade show last year. I ended up selling 2 to another business at face value as I didn't need them and they had sold out. Do I need to charge VAT on the ticket sales? I purchased them for £236 (no VAT) and have sold them for £236, so if I should have added…
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Recommendations for private health insurance for two company directors
Hi all,My business partner and I would like to set up a private health insurance policy for myself, him and his family.I'm single and he's got a wife and three kids. We're both in our 40s.Are there any providers who stand-out from the pack? What kind of features should I be looking at?Thanks in advance for any assistance.…
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MTD for ITSA software advice
Folks I am sure there are lts of people searching for Free or good value software. I am one of them. I am a sole trader not VAT registered. I current use Excel and have been checking out various Bridging Software. 123 sheets appears to be a good option. Anyone got any thoughts on a decent software? many thanks harry
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MPLC licence in a business with no TV, just computers
I run a small business with around 120 employees, I have been contacted by a quite aggressive sales person from the Motion Picture Licensing Company - MPLC - who states that their database indicates that we do not have an MPLC licence and insisting we need one. I have never heard of this organisation but a quick Google…
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Letter before action?
My son is starting a new business, to be honest it's on a shoestring budget. It requires a boat with an outboard engine. He has spent the winter and spring renovating a boat to make it serviceable for the job. Last year he spent a considerable amount of time painting a luxury yacht for the customer of a marine outfitter.…
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HOW TO MAKE VIDEOS AND PUT THEM ON SOCIAL MEDIA
Hi Folks I am a maths tutor and want to make videos on topis which students find most difficult. In the videos, I only want to show my pen, the question and workings out, plus my voice stating how to resolve the question. Can someone kindly suggest the type of software that I should use? Can this be done at home or would…
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How is business ??
Not really related to money saving, but wondering how everyone is finding things in 2025? After about seven good (and some very good) years running our small business in the construction industry, work has gone off a cliff since xmas. I'm hoping it just me, and its a blip, but I'm struggling to understand where the…
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accountant problem
My accountant charged me to set up payroll 5 years ago - I recieved a bill for the last 5 years of running payroll - im a one person company, he had never set out ricing or send any invoices in the last 5 years and now wants £2000. one thing is that it feels very unfair / unreasonable to be charged for services i know…
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Is this a GDPR Breach?
Hi all, I was just wondering if someone could offer some advice Where I work we run a series of conferences, one of these we licence out to a third party on our behalf- we own the data for anyone who attends etc but its licensed to them. As part of this anyone who signs up for the event can tick a box to receive further…
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Unique Tax Reference-Self Assessment
I received a letter from HMRC recently requesting me to contact them regarding Self Assessment so I did...to my amazement they told me that according to their records, I had an incomplete tax return for 2009 and this incomplete tax return had accumulated fixed penalty charges going back 17 years with an outstanding amount…
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Sole trader self assessment- accountant needed/
A bit of advice please . I am a soletrader selling online through ETSY and a couple of other selling sites . I pay an accountant £280 to check over all my spreadsheets , bank statements I have sent and then they submit it through self assessment . I sell mostly through etsy and keep a track of all the costs on a…
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Investing in index fund
I have just under 200k, of my small limited company money, invested in an index fund that was set up by my IFA. My IFA deals with this, my pension, my house mortgage and several BTL mortgages. I've had my company draft accounts for the year and although the fund has increased a bit, the 'stockbrokers fees' listed in the…
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Can i still be self employed with zero takings?
Hi, i am hoping to set up a business soon, it'll take some time to establish, at least a year, if not 2, in that time I expect it to turn over £0! It'll (unfortunately) have all the time/money expenses of a business though, and because of that and the fact I'm aiming to make money, can I still register as self employed?…
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Closing business
Hi, I'm currently a self employed childminder and plan to close my business July 25 and have accepted a new job starting in September 25. In regards to my tax period from April until July does anyone know what happens regarding this? As wouldn't earn £12,751 for this period however will be earning above that starting…
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King's Trust Enterprise Programme Experience
Hello everyone. I wanted to get some views from people who participated in the King's Trust enterprise programme from 2024-25. I've tried to get onto the programme twice now, but I've been rejected because I don't have the qualifications or experience required to run my business, even though my business doesn't require a…
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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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Moving money from business to savings account [Merged]
Hi all Unsure if this is the right place to post please feel free to delete. I am classed as a soletrader - running a sidelone alongside my employed work. Have been running it since December and just letting the money accumulate in the bank not a lot but around 2k. Is there any reason I can’t move this money into a savings…
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GP partner profit share renamed as locum income in end of year Limited Liability Company
GP partner profit share is taxed through a limited liability company, corporation and dividend tax paid. In the end of year Company Account summary, this income is entered as “locum income” in the schedule of reserves, rather than GP partner profit share. Why is this?
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Who pays for EICR? Commercial Lease Office
Hi, I have a joint commercial lease with a colleague renting an office. The landlord arranged for an electrician to see the office the other week. Today, we receive an invoice to pay for the EICR. I cannot see anywhere in the lease where it states that tenants are liable. Please advise what to look out for in contract…
