Small biz MoneySaving

So I'm thinking of running a simple side hustle that allows people to rent some of my products for a small fee, so basically instead of them spending £300 on something they can borrow it from me for £20 per month then send it back to me when they are finished, it's a very simple idea. But, how do I protect myself from…

Hi All, I'm hoping some social media savvies will be able to assist. (there doesn't seem any way to specifically search this forum anymore so apologies if it's discussed here already!) I need to set up some business social media accounts. However, in order to be able to 'switch' accounts, Meta (thats Facebook, Instagram,…

Hi, I am currently employed full time but have also just started a new business working evenings and weekends as a sports coach. I am looking for various advice on the below questions to get my business as a sole trader set up properly. At the moment I'm unsure how this new business venture is going to go re income etc. 1…

I've been self employed for the past 6-7 years and for the 23/24 tax year I started doing survey/research tasks as a side hustle along with my main self employed job. I know if I wasn't already self employed I would have to register and declare what I make, but seeing as I am already self employed I'm unsure where to enter…

Last year Royal Mail announced that they would no longer be selling the '1st class signed for' and 'special delivery' stamps. I use the 1st class large letter service for many of my packages (which are also under 100g), and knowing that prices would be going up, I purchased all of the '1st class large letter signed for'…

Does anyone know if a sole-trader can borrow money from their spouse for the business with the interest paid being an allowable business expense?If a loan is from a bank or even from a friend then the interest paid is allowable as an expense on the accounts but what if that load is from a spouse?

Having already owned and sold a successful catering business I am looking at something new to start. I'm always horrified of Fly Tipping and have some ideas to help prevent this, working with councils. In theory it would reduce offending by a fairly high margin. I have worked with councils in the past but this is a totally…

I’ve slowed down this year and plan on doing even less in 25/26 as I have a pension kicking in at 60 later this year. My turnover is looking likely to be £32kish, expenses around £6k plus I employ my Wife at £7k ( all official so she gets NI credits ) my tax code is 1130 (married allowance). So only £5200 taxable profit.…

I need a PO box for my business, but the Royal Mail's are £270+ a year. I cannot justify this expense because my business is very small. What would be my best alternatives? Cheers

Hi All, I have long used my personal Amazon Prime account for regular business purchases sent to a number of different client addresses so that I get the benefit of free Prime delivery, which I imagine they hate. The downside of for me is that I need VAT invoices and Amazon makes it as difficult as possible for me to get…

I’ve been underpaid for each and every one of six invoices I sent to a client 12-18 months ago. I only just noticed this when doing my tax return. The client is based in the eurozone so something must have gone awry with the € to £ conversion. I billed them in pounds sterling. The client has conceded that TWO of the…

Hi, I am employed 25 hours p/w by 4 different employers. I really want and need to work more hours and I have been offered a position for a couple of hours a week that would have to be self-employed. Can you help me to figure out whether this would be worth my while and the pros and cons of doing this? Ideally I'd like to…

I live in an area with a lot of elderly people who I'm assuming will not be getting the best value for money in a lot of areas of their lives. I'm planning on starting a small business to help these people and to make a little for myself in return. Ideas that I've had so far are: * Buying a thermal camera so that I can…

Hi Guy's, I'm looking for some advice on current debt i have with my ltd company. I used to operate through my ltd company as sole director for contracting outside IR35 roles. Things went down hill during covid with bills to pay personal expenses etc. which i had to use any remaining funds within the company to pay for…

Run a small business, we ordered £1600 of products from a large online retailer last summer. It came in 32 separate boxes, and around 25% of the goods were unusable/completely broken. I'd just had twins so was a little preoccupied. I opened the boxes the day after they were delivered and reported all the damage with…

HI, I work as an IT Manager and the company i work for is closing down in March and im being made redundant. I will (hopefully) find a new role with a new company and will be on PAYE. My current boss would like me to do some consultancy work for him as well. It will be a few hours a week and i would think i would be…

I previously worked from home and didn't use any room exclusively for business purposes. I therefore didn't pay business rates. I am now renting an office with a rateable value of £10,000. My home is now just a correspondence address (in case I change office in the future). Am I entitled to small business rates relief on…

Looking for some advice on structures please. I have recently (December 24) left my full time job. During January I began exploring possible leads for consultancy work. A number of these look like they may come off. I aim to be charging £400/day and aiming to work approximately 0.5 FTE. However, at the same time a good…

Hi, I run an e-commerce website that targets the whole of the UK. I am now wanting to add a business number to the site. I have the option to pick a local 01 number or a national 03 number. Wanted to get an idea of what people think will look the most professional and fitting for an e-commerce site. I was thinking a…

Hi All Does anyone have a google sheets template for small business accounts or know of any free downloads? I am a start up sole trader and will be running my own accounts for the fordt year of business as income and expenses will be low.