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Self assessment and EV help
Hi I’m looking for info on my work vehicle. I’m a self employed cab driver and have recently started renting an electric cab. How do I account for this on a SA? Before was simple I would just claim back my diesel expenses. I know how many KW it takes to charge and how much I’m paying per KW/h do I just calculate that and…
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Working From Home
Hello you very knowledgeable and wonderful people that make up these forums. I sincerely hope you are doing well today and you are happy. I find when i am working from home, i work at home a few days a week doing website design, i find i jump onto my PC in a morning without breakfast, my meals get late like lunch and i…
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Can your landlord back date an electricity terrif increase?
We rent our unit from the local authority, who supply our electricity and bill us quarterly. The landlord has recently emailed all the tenants in the building advising that our electricity unit price will increase, but they are going to back date the increase from November 2022, and apply a standing charge. Can they do…
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Shopify is mandating a business phone number. Any ideas for an expensive second phone number?
Hi! I'm setting up as a sole trader selling business to consumer using Shopify and Etsy. Shopify require a business phone number for customer receipts. Giving my personal number is not an option, do you have an ideas for how I can get a business number inexpensively? I don't want to buy a second mobile phone, I was…
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Daughter has set up new business in our home. Are we eligible for any benefits?
Hi All Our Daughter has set up a business as a lash/beauty technician in our garage that I have converted into a salon. She is doing amazingly well for a 17 year old, and the business is now in its 2nd year(Super proud parents!!) We have recently completed her first self assessment, and as expected for a new business after…
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Ltd Company - income and related expenses in different c.tax years
Hello everyone, Coming up to corporation tax return time, and with a slightly change of business trading I'm finding that income for quite a few jobs is coming in before the end of one tax year and the related expenses and costs being paid out after - so I'll end up with a large tax bill this year and possibly a loss the…
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Alternative address as a sole trader
I am wanting to start as a sole trader but live in a rented property. I will be selling very small items online, using postal services. It takes up one desk and a shelving unit within a bedroom of my 3 bed property. I have written and explained this all to my landlord. Do I have any others options if my landlord does not…
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Finding a chinese supplier
Hi Its early days but I looking to source some general products from china to start a small online business. I have read some of the pitfalls and scams you can get into but I wondered if anyone had used a sourcing agent such as Kanary or Sourcingallies. It seems when you start off its better to use one of these agents…
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Starling business banking is closing down my account as I have a 'separate entity'
I opened a Starling Business account over a year ago, as a sole trader. I thought that was the correct option. But Starling have now told me they are closing my business account next month as it's a separate entity. (I gather they mean registered as a Ltd company with Companies House). Ok, I get it, but why not just offer…
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Customer Won't pay debt. What to do next...We'd prefer to make them cease trading? CCJ? Strike Off?
Hi all Please pardon my business ignorance here but I am not sure what to do in trying to help out a relative who's very upset because his customer won't/can't pay. The story goes... My relative has a decent business buying and selling construction products. He has had a particular customer for a few years who has always…
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Can I sell crafts on Etsy or my own website if my mortgage prohibits business use of my house? (UK)
My sister (27) and I (28) have separate homes. I own a house with my husband, and my sister lives with our parents. However, I am uncertain whether our parents own the property or are still making mortgage payments. The mortgage agreement for my house prohibits using the property for business purposes, and I am unsure if…
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Cheapest/best shipping solution for new ecommerce business?
My husband
and I are planning to start a fitness equipment and accessories retailer (Miller
Fitness Equipment), and sell across UK mainly, and possibly Europe/US. Some items
will be sold via a drop-shipping service from suppliers we’ve contacted (mainly
the really big items), but for small to medium size products, we plan…
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Classified as Major Business for leccy
Hi - this could be one of those that no one has come across. We're trying to get quotes for a new electricity contract for our business and everyone we speak to is unable to quote because we are classified as a Major Business. We have a 3 phase supply to our small campsite on a half hourly meter (those metering and data…
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Best way to do accounts and payroll for a very small community-interest company
Can anyone recommend the best approach for doing the financial administration of a new community-interest company? I've just completed my first year 2022-2023 and at the start I thought I'd do it all myself initially. Then I found that just the payroll to pay myself a salary required more learning than I had time for,…
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Paypal account under a different name
HiI have multi businesses. So to keep things simple I use one paypal which is mine to sell a food manufacturing product. An use my girlfreinds paypal to collect money for items (computerware shop). But its title is Nails and Hair as I forgot to change it to Hardware. I can only have 1 account and my gf can only have 1…
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Self assessment
Hello. I wanted to clarify. I have always been paye. However due to my earnings I have always been asked to complete a self assessment. Due to loss of employment my earnings for 2022/2023 will be considerably below £100,000. I’ve completed the HMRC online form and it says I do not have to complete a self assessment but it…
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Does an LLP Need a PSC?
Hi Just wondering if an LLP needs to have a person of significant control or can all three people have equal rights? TIA
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HMRC and sub-contracting
Just getting things straight with regards to doing 1st year’s accounts. Husband went self employed as a gas engineer last October, he’s been getting lots of sub contracting work and if repair work is needed, he buys the parts up front, so they go through the business account / freeagent accounting software as expenses. He…
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Business Savings Rates
I'm new to this game and wanted to move some money out of my Business Account into a seperate Business Savings Account. The interest rates are shocking! Am I missing something or are we stuck with low savings rates for the near future.
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Sister and I plan to start an online craft store. Questions on starting, tax, and registration...
At the moment we have not made any money from the business but have spent our own money on a website domain, a logo and a workspace for us to share buisness related things and a CRM system. * When do we register with HMRC? now or when we make money? * What do we do about taxes? * At the moment, there's just me & my sister…
