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Tell HMRC I don't owe any tax
Hi, my company was registered on 13/11/2022. I'm the sole director. The accounting period is from 13th November to 13th November each year. I've not been operating for a full accounting year yet, so I don't have to complete my company tax return yet. I see that I need to tell HMRC that I don't owe any tax 9 months and 1…
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Companies House late filing penalty against a dormant company which is being striken off
Some Background: I set up a limited company a few years ago for a business which never came to fruition. Over the past 3 years i've filed annual Dormant company accounts and the annual confirmation. This year however I decided to close the company down and have it striken off. I applied to strike off on 1st May 2023 and it…
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Cash flow problem, can I use personal funds
Hi, we have a ltd company and have a very small cashflow issue
to meet our corporation tax/salary for staff due in a couple of weeks. It’s only a few
thousand. We won’t have any issues in the future months. Can I as the shareholder
director, transfer funds from my personal account (so directors loan) to the
business bank…
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Bona Vacantia over 4 years ago, any advice appreciated.
My company was dissolved in 2019 after I failed to submit accounts. I had stopped trading but failed to close down the company properly and moved country so didn't know until my account was seized in Bona Vacantia. Around the same time I had an illness and couldn't deal with it which seemed complicated at the time. Since…
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Recommendations for bank account for LTD please
Hi, the accountant has said its time to go Limited but which bank account would you suggest? The company will have 2 directors (myself and my wife) Services based (chauffeur service) UK based Mainly payments in to the company will come from card payment or bank transfers, will be a small percentage of cash (guessing IRO…
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(Former) Business Premises Rates and Electricity
We have spent so many hours days on the phone getting
nowhere I am hoping someone here might be able to give us some insight. My uncle was self- employed, working from a workshop in his
garden which is classed as a business premises for rates purposes. In 2021 he
got ill and ceased trading. He simply
closed the doors of…
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SSE Contract
Hi, we are a small business (only 2.5 employees) using approx 11,000 kw of electricity per year. We are in contract with SSE which finishes on 31st July 2023. In May 2022 due to the massive increases in electricity charges, I signed up with SSE in a new contract to start 1st August 2023. Recently we decided to help with…
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Billhop Replacement
Has anyone found an alternative to Billhop which shuts operations for UK customers this week? Billhop enabled credit card payments to be made to businesses that didn't accept credit cards and was very useful. I can not find an alternative - there is a major gap in the market for a company to offer this.
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Sole trader insurance against clients going bust?
Hi all, I'm self employed/sole trader, basically I work freelance for 12-15 different companies as and when they have work, I visit sites and do reports for them. I try not to let any of the companies run up a bill of over £3500 however its not always easy to turn work away especially if things are quiet. Recently a few of…
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Commercial rental
My daughter currently pays £2000/month for space in a wedding shop. They now want to increase it to £2950. She has also found that they are advertising it for £650 to new tenants. It seems they are trying to price her out of the store, is there a law governing these practices.
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Paying a customer's import tax
Hi, I am sending a package to Holland for a client. I want to be able to pay all their charges up front. They don't speak English and, without going into it, the last time I sent anything it was a nightmare. If they can just get the package delivered and not have to faff about, I'm cool with paying extra whatever i have…
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Transactions done before limited company was set up
Hi, I am in the process of opening up a limited company for my eBay business. I have already bought a lot of stock using my personal bank account. When it comes to doing accounting and taxes does the fact that I had purchased stock before the company was set up cause an issue? Additionally, I have already made a few sales…
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Anyone cancelled their VAT registration?
Has anyone done this and was it a simple process or did you have difficulties? Business is thinking about cancelling as turnover is WAY below compulsory threshold for registration and reducing. Been registered for years. Thanks
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Property Sourcing
I wonder if anyone here does or had done Property sourcing as self employed. I run a hone business already but an old friend approached me with a venture she does where she sources and packages property deals. It sounds far too good, with my skillset, it seems like a great fit but curious if there are any pro's or con's to…
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Jury Service
Hi. This is my first ever post on a Forum and so not sure if I've posted to the best section. My husband is a self employed driving instructor and has been called for Jury Service next week. He will be there for 2 weeks but has been advised he could be called for a trial lasting up to 5 weeks. He has been advised he can…
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You got £20k what would you do with it?
Hi,You got £20k and want to invest it or put it into something where you get a passive income, any ideas?
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Starting a CIC - directors
I've posted this on the charities board too but thought there may be more traffic on this board :) I am going to register a cic this week, I will be the only named director, moving forward I would like to apply for grants and am aware that you need at least three named directors to do this, problem is I don't have anyone…
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Commercial lease - ending prior to break clause
Hi MSE’s, I’m a small retail business owner. My business is doing well however my lung health is declining. Sadly, I need to give my store up as soon as possible for some major surgeries coming up. My next surgery has a 50/50 chance of success. I’m rather complex and also very poorly. We have a break clause coming up in…
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Do I need to submit a Self Assessment?
Hi, I work inside IR35 so pay tax/ni at source BUT I make quite a large Salary Sacrifice contribution to reduce Income Tax. My total Gross is likely to exceed £100k per tax year but not if you take off the SS - is the SS part of that £100k or not does anyone know? Thanks in Advance
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Despair after being scammed
Dear
Sir, I
am writing this as a journal in the hope that something in it may
assist me to regain stolen funds. As
some background, I have for many years(since 2008) owned a small
retail business (newsagents), by way of providing an income for my
wife and myself. We
had differing disciplines and chose this as we could work…
