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UTR Query
Hi I occasionally undertake sole trader freelance work (alongside my full-time employment). My question is I've been asked to undertake a one off freelance piece of work for a company and they've requested my UTR number to process future payment. I don't have any issue supplying this if it's absolutely necessary, but just…
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HMRC inspection and growing anxiety issue
Hello My small business is under HMRC inspection. The letter was received in Dec for Sep VAT reclaim. The inspector requested a number of invoices in Jan so I sent them back right away but there was no response for months. I and accountant kept chasing by emails and calls but no update was made by HMRC. Due to the lack of…
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15 year old selling online
Hello, my daughter (15yrs old) wants to sell online to make a bit of money. She isn't old enough to have an ecommerce website yet, and Etsy would be a great platform for her to use - but again, she isn't old enough (same with Ebay etc). I'm happy for her to sell on my Etsy account - however, I'm a high rate tax payer and…
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SEO Cashback Site
Hello you very wonderful and intelligent people that make up this forum. I sincerely hope everything is going well for you. I am going to be setting up a small cashback based site on a purchased script. Where users can complete affiliate offers for monetary pay-outs. I please wondered for SEO what are the aspects i should…
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Self Assessment: Trading Allowance?
Hi, I am currently filling out my SA for a small business I have and wondered if someone could help me with one of the questions. I am part time employed (pay and health benefits) (around 14k) I also run a small business, and I brought in around £4800 over the year. I have seen a section asking me "Trading Income Allowance…
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Seeking Guidance on Completing My Business Plan
Hi everyone, I'm in the process of finalizing my business plan and could really use some advice or help. Specifically, I need insights on:* Market analysis * Financial projections * Any other key sections I’m aiming to start a Car Wash business and would appreciate any templates, tips, or resources that have worked for…
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Is VAT Registration Worth It for a Sole Trader Selling Used Items Under the VAT Margin Scheme?
A bit of advice please . As a non-VAT registered sole trader, I'm finding that I have to turn down profitable deals to stay below the VAT threshold. For example, I recently had to turn down a deal involving four items worth £20k in total, worth around £24-25k as afew deals like this would push me close to the VAT…
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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
