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Shared salon
6years ago me and my friend got our own salon together, The salon is used purely for us to do hair we do not sell any products , the salon does not make any money . We have always had our own clients so the money we make is ours and then we split the rent etc . We do not have any legal paperwork or contracts . Where do u…
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Credit card protection on purchase
I have to make a fairly large purchase of material with a company based in Europe (Czech Republic). I have never used them as suppliers before and I have made checks on their website, bought some samples, and searched for reviews (there aren't any but I would not expect to find them as it is a very sepecialized kind of…
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Excel template for small business
Hello, I have previously been using quickbooks to track my orders that I have on Etsy (very small craft business), however, Etsy has stopped linking to Quickbooks, so I'm paying for quickbooks when I'm sure I can log my transactions./expenses etc myself. Is there an excel template that I can use, that has the same fields…
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Retail business rates discount- nobody will give me any answers!! 2 properties
I really hope someone can help. I have a bakery business in a commercial unit. Rateable value is £6700 and we do not pay any rates as we get small business relief. Now we want to sign an additional lease on a shop, again this has a rateable value of £6700. Now that I will have 2 properties (unit is in my name shop will be…
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Side Hussle Q
I understand that if I have a turnover of less than £1000 I do not need to declare this on my self-assessment tax return. However, if I have a turnover of £1300 but a profit of £800 do I need to declare this? (I think yes) and will I be taxed on it? Seems wrong that if I turned over £999 with a £900 profit I pay no tax,…
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Wise: sending money to other Wise Business accounts
I'm thinking of setting up a Wise Business account to pay a supplier in the Netherlands. If you have used a Wise Business account to make payments overseas, I'm hoping you can explain a few things about their fees, which are not clear from their website. 1. https://wise.com/gb/pricing/business says there’s a 0.35% fee to…
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HMRC Basic Tools 2024/25 upgrade help - Mac
I would be so grateful if anyone could advise. I run payroll using Basic Tools RTI and could not move to the new tax year without upgrading the program. Unfortunately, once I'd done this, I realised that my 2016 MacBook Pro doesn't have the required software requirements (Sonoma or Ventura) and due to its age can't upgrade…
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Cheap Shipping USA to UK?
Hi,I started a business a board game I made it did well in UK, sent products to USA for Amazon FBA, it didnt do well and have a lot of stock I need to get back to UK. I've tried selling it at a loss but that doesnt work, I cant liqudate it because Amazon says it hasnt sold enough to give me a price. 10 Boxes - 48" x 44" x…
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Partnership - do we change name or start whole new company?
If a partnership decided to go from a small business run from home selling confectionary online to wanting to open a catering trailer selling confectionary and other food. Do we change the business name and continue or do we need to close the first one and then start a whole new partnership (would that mean registering as…
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Company Director Using My Address as His Correspondence Address
My ex-husband moved out of my home five years ago. I have continuously told him to remove my address as his correspondence address from companies house and get his address listed, but he has ignored all requests. This is his personal correspondence address and not the company registered address. Is there anything I can do?…
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trying to find link to hmrc to get utr number
Hello.... absolutely going round in circles here, hope someone can help. My son was recently made redundant and decided to work for himself. Went on HMRC site to register as self employed and came to a point where he was informed that he already had a UTR. We think this might be from years ago - its possible that he…
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Opinions of Starling Bank for a Business Account?
Since starting my ltd company, we’ve been using Santander for our business account. No major issues but I started looking round for a new bank around a year ago because the old Santander mobile banking app was so outdated and you couldn’t see full details of payments coming in/out. At the time, I opened a Starling account…
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Online Payments
Hi, Can you tell me the cheapest option or a free option to set up taking payments for a virtual business please? I would prefer to email a payment link for the customer to pay the invoice. Any advice would be much appreciated. Thanks
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Self Assesment Tax Rate
I am employed and pay PAYE at higher rate tax banding. I also rent a property out via a limited company and earn £14400 per year through rental income. Is the £14400 payable at the same higher rate as my PAYE income or low rate as a separate entity? Thanks
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How many with small businesses registered as a Limited Company do their own taxes?
My husband and I set up a small business as a registered Limited Company last year. I've kept meticulous records of incoming and outgoing payments and what they are for. I have a business bank account that everything goes through. I'm confident that I can file my own accounts for the business but just wanted to gauge how…
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Is this investment worth it?
I recently wanted to take my max dividends from my small company, pay the tax (at 8.75%) and invest in stocks and shares Isas. Accountant says why bother, you pay all that tax? However, if I do nothing money sits in business account not doing much. What do people think? I appreciate stocks and shares are not a given...!!!
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Amazon FBA - Anyone use this?
Hi all. I currently sell on my own website and on eBay. I'm thinking of moving from eBay over to Amazon using the FBA option. I currently rent office space (approx £470 pm inc VAT) and pick and pack my own products, pay postage, packing, labels, ink etc etc. I know that FBA will cost more than eBay, however, my thinking is…
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Sold trader vs limited company near retirement
I’m looking for some advice about becoming a limited company. My dad is a long term sole trader, employing a number of people. He’s always loved his job, but is now well past retirement age and still working full time. He would like to retire, but it’s not going to be immediate. After a health scare, we’ve been looking…
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Getting things clear - considering self-employment
Hi all, I am just exploring self-employment alongside my PAYE job which is 4 days per week. I have not invested any money yet and want to get everything clear first and not rush into anything. I’d be grateful for any comments or recommended resources to help me look into things further. I think sole trader would be the…
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Renting a business unit (property)
Can anyone advise on some questions about renting a business unit please. Is it necessary to be a business, or can an individual rent one? Are business rate levels comparable with domestic charges? Is it necessary to be doing the same activity as the designated use, or is it okay to use any as a storage unit? Any other…
