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VAT Guides
You used to be able to obtain hard copy guides from HMRC but I can’t seem to find a link to order these anymore. Does anyone know if these are still available? They were much more useful than having to read through online
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Starting a business - bank funding v private investment
If you were looking to start a buiness that involved needing to purchase some land and buildings up front, then development cost to turn them into premises, then an income stream from 6 months onwards, what are the funding options. Does it all need to be raised from private investment or will a bank say loan 50% or more of…
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Double Check - Closing Limited company
please could I check if this is a pathway to closing my limited company. My year end is 31 October and the company has not issued any invoices for work since May. If I paid employees, issued P45, de registered VAT, then produced CT600, then paid tax, then paid dividend to empty the account, then closed bank account - all…
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Getting out of phone line contract
Since my husband died we have discovered the farming business signed into a contract for multiple line numbers at different locations, some of which we don't know what they are for or whether they still exist, with a company called Digiquip now taken over by Lily. We have queried these numbers and not had a satisfactory…
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Guide/Tips on starting a small business
I'm in the very fortunate position of having paid my mortgage but still being young enough to still be a long way from retirement (I turn 40 later this month). After some mental health issues during the pandemic I reduced to a 4 day working week and have been enjoying the extra flexibility and time, however I no longer…
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Money Moral Dilemma: My daughter delivered a wedding cake an hour late - should she fully refund?
This week's MoneySaver who wants advice asks... My daughter's a baker and recently got the dates mixed up on a wedding cake order. She got a message asking where it was, and having done all the preparation, managed to get it to them for 7pm - it was due at 6pm. When she delivered it, the customer said: "We'll speak about…
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Limited construction business - claim for historical work
My partner has recently bought a limited construction business. He received an email from someone claiming structural damage caused by a leaking velux window fitted in April 2022, and requesting for it to be fixed under a 10yr builders warranty. It seems that this work was completed by the previous owner, before the…
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Company money to pay personal mortgage
I have a 140k mortgage on my 500k house, through a high street lender. I have enough spare money in my small limited company to take 140k out, clear the mortgage, and repay at maybe £ 1000 pcm, rather than the 1350 I’m paying now (I have around 11 years left on the loan). I don’t want to ask my accountant at this stage, as…
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VAT and Retail Prices
I run a small independent gift shop and have recently gone VAT registered. Just wondering if it's the done thing to still follow brands RRP's to stay competitive or do businesses tend to mark items up higher than the RRP to cover the VAT? The problem is I don't want to be charging a higher price for items where other…
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Public liability for organising craft fairs
Hi, can anyone recommend an insurance provider for hosting craft fairs/markets? I need 10 million cover and the cheapest one I can find is about £480 per year. Is this good? Many thanks in advance.
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NatWest charges after 2 years
I am with NatWest startup business account. I am pondering what are the fees for it after 2 years of fee free and cannot work it out from leaflets. Do they charge fee on intra-bank transfers? I.e. will it cost 35p or whatever it is to transfer to/from NatWest personal & NatWest business accounts?
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Anyone runs LTD company from home?
Based on my conversation with HMRC if I deduct the allowed amount from my business for allowable expenses for running business from home ( I have 4 rooms use 1 exclusively for business so 25% of my council tax, utilities etc.) and then transfer money to my personal bank account to pay for this costs I will need to declare…
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Please suggest a reputable Employment Law firm for small business
Hi all It is clear after a couple of recent 'incidents' at my families company there is now a genuine requirement for the company to employ a company that specialise in Employment Law. We have no idea where to start so started with Google. The first suggestion was a company that claim the have thousands of excellent…
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Money Moral Dilemma: Should I refund my friend for the personal training sessions she cancelled?
This week's MoneySaver who wants advice asks... I've qualified as a personal trainer and set up my own business. A close friend asked for eight sessions at mates' rates, so I booked her in at half-price, and she paid upfront. With three sessions to go, she said it was too much hassle for her to get to them, as she has to…
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How to calculate interest earned on savings for SA tax return
When declaring interest earned from a building society on a Self-Assessment Tax Return is the required method to calculate the interest manually on a 365 day basis over the tax year or is it a case of declaring when a payment of interest was actually made - for example, an account could have been opened in December 2022…
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Business bank account for self-published author with no international charges
I am a self-published author with KDP Amazon and have had to set up a publishing company to 'own' my book. This means I must have a business bank account linked to KDP. My book is available in several countries but when I sell a book internationally, I'm hit with a bank charge which takes all my profit (and more!) from the…
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To set aside default judgment in my favour
I am self employed and one of my clients owes me
money so I have issued a claim to the civil court against him In my N1 Claim Form I have indicated that I wanted
that the court send me back the Claim Form so that I serve it myself on the Defendant within four months according to CPR 6.4 (1) I did this because I wanted to…
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Selling digital products on Etsy.
I'm looking to sell laser cutter/engraver digital plans/instructions only on Etsy (no physical products). This will obviously give me a worldwide marketplace. This is what I envisage happening: 1. Customer will download my digital plans/instructions from Etsy. 2. Customer will load the digital plans in to their own laser…
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3 weeks without wrongly disconnected BT Business line
We're a small restaurant and BT customer for over 30 years. With 2 overdue bills, the line was permanently disconnected, without the correct procedure as per BT Business' Code of Practice being followed, ie there were no reminders, prior warnings, restrictions or suspensions. The day the number stopped receiving calls, I…
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Winding up a small limited company
My business partner and I have decided after 27 years running our small limited company (us and 1 employee) that business is getting gradually harder and harder for little or no reward, that we want to retire. The business is not saleable, relies pretty much purely on goodwill so it will be just a matter of closing it down…
