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Becoming a legal entity & Tax rules?
Hi all, I'll try to keep this as brief as I can, My partner and I started helping out friends and family during lock down with various forms of online social media management while we were out of work, just to keep our minds occupied during the pandemic. We recently were asked through a friend of a friend to build and…
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Which is the easiest company to open the business account with?
My Mrs is opening a start-up LTD company. Knowing here, which includes her health conditions, she will want to start and do it it all at her on phase which is likely to be really slow. The plan is to open the company, then bank account and then look for the clients. We are looking at the copywriting business here, so no…
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Reimbursing startup costs + overseas supplier
Hey all, I have recently set up a catering trailer business and I source the products from an overseas supplier. My son has paid for most start up expenses such as domain registration, email hosting, company formation agent fees and so on. He also paid one supplier (around £15k in total) using his own personal credit card…
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Director pay
Hi, can someone explain how i can take my pay once i become director and shareholder at 45 or 50k per year
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Sole trader proof
So I've decided to start selling some bits on eBay to make some extra cash so I've signed up to a bulk order company. You can only buy from them if you are a registered limited company or sole trader. They are asking for my company name and registration number (is this just my name and self assessment urn)? But they are…
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CapitalOnTap cashback credit card for businesses
I thought others might be interested to hear that there's at least one business credit card that pays cashback. It is https://www.capitalontap.com/. The rate is 1%, uncapped, so pretty good! Another advantage is that they don't add any fees on foreign currency transactions, which is a big advantage for me, as I'll be…
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Tide Accounting - interested in your experiences of accounting software
I have a Tide business bank account and am considering signing up for Tide Accounting which claims to "Sort out your taxes without the need for an accountant". I know that there is other similar software out there such as Quickbooks but I am thinking of going with Tide Accounting for the sake of simplicity. I have a small…
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Chargeback via PayPal by buyer - item defective/not as described.
Hello, We are a small business and we supply inflatable products, marquees, awnings.. in April, after many discussions, a customer went ahead with a custom order which was made to his measurements and design. 2 months in the making, he finally got it but he was out of the country so his girlfriend and gardener set it up.…
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What 'income' do they mean?
Hello, I have a full time job and I am considering to sell my hand-made items online and wherever, not relevant to my job. My employer is deducting taxes on my behalf so that part is sorted. How about the sole trader situation? Reading HMRC rules they talk about up to £1000 income when I don't need to tell the HMRC. I…
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Sole Trader working with another Sole Trader
Hi everyone, I'm a sole trader, garden maintenance. This financial year I needed an extra pair of hands so reached out to another another sole trader gardener to assist in a number of my clients gardens. He's been helping me out sporadically through this season up until today. I've been invoicing the clients directly for…
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Ltd co never paying its debts and transferring assets to a new Ltd.
What's stopping a director of a Ltd co transferring all its assets to a new Ltd, and then winding up the old company, in case someone takes it to court claiming money?Maybe the director can do this over and over again, thus never paying any CCJ or debts, and always transferring his assets from one company to another. Am I…
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Ebay want me to register for VAT
Hi all Looking for some VAT advice I have been selling autographs on ebay, it started buy selling my own 50 year collection individually, then once i sold what i wanted to i decided to keep the sales going by buying new collections etc and selling them I was careful as i thought not to exceed the vat threshold of 85000 but…
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Payroll software and invoice software
I have been using a cloud based service for this but they are hiking the price in January to £240/year from £86 so looking for alternatives. any recommendations that are kore reasonably priced? I want it to be able to produce quotes, invoices and submit PAYE RTI
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Foreign client requires VAT number?
Sorry if this isn't the correct board to post this! I am a freelance translator, registered as self-employed. I work with a variety of clients and agencies and invoice them directly. However I also do quite a bit of work for a Danish company. At the moment they pay me through a freelancer platform, where of course they…
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Ending flat rate VAT
Hi, we are currently on the flat rate scheme and am after a bit of advice as to when you need to go from this to normal vat. The turnover over the last year isn’t at £230k but it says if you expect turnover to top £230k in the next year. Ideally we would like to stay on FR for as long as possible but how do they measure…
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Earning money through a partnership while travelling abroad - what to do about HMRC?
Hi all, I’ve been part of a software development partnership since 2022, and have filed self assessment for the 22-23 tax year, on behalf of the partnership and myself. We’ve already been paid for 1 invoice in the 23-24 tax year, so I’ll also be submitting a self assessment next year. Up until last week I was also in full…
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The problem with TattiLashes
No idea where to put this so just sticking it here. For probably a year now, Tatti Lashes and I'm assuming its the one I found online, appear to have registered their deliveries to, I assume the owners or manager, my mobile number. So I get their "Parcel is on its way messages", because one time I got their full address…
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Trademark issue letter from competition
Hi,I sell a product and registered several trademarks which all was successful in UK. A year later I received a letter saying one of the trademarks is used by another company but there not in UK, there in Europe. They asking it to be transfered as I dont use that trademark. I thought as we are in Brexit we are outside the…
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Contacting Newsagents
How could I get a email list or contact all newsagents in UK?
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Claiming small courses as a business expense
I have a small business and while starting up, I had been purchasing softwares and a couple of small courses and never claimed these. I have went to purchase another small course from a tutor and the course details "that it can be claimed as a business expense" Is this possible for a sole trader to claim this on their self…
