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Self employed for part year
Hi all, I was self employed as a sole trader from January 2022 to the end of the 2021/2022 tax year. In that period I earnt £25k gross. No other income for the earlier part of the tax year at all. When I input this amount in my tax return I get an error message saying ‘amount entered for turnover exceeds maximum annualised…
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Tax amount on HMRC different from accountant's calculation
Hi, 2021-2022 was my first year working as a freelancer, so I am now submitting my first self assessment and paying tax. My accountant submitted my self assessment for 2021-2022 yesterday and sent me a screenshot of the submission page to show that it's all gone through. They also told me how much I should be paying in…
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Company demanding money from us
Long story short, a recruitment company approached us a few months ago and offered to send us suitable candidates for a vacancy we had. They assured us they had approx 20 candidates on their "green light." This meant they were current and actively seeking employment. I was a bit skeptical but signed up on that basis. They…
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Zettle - terminal or own smart phone
We've recently bought a zettle card reader and dock but did not take the option of the 'terminal' which appears to be basically a smartphone. I can get a sim-free smart phone for much less than the zettle terminal - anyone with any experience of using Zettle got any thoughts on this? I'd rather not use my personal phone.
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receiving money in USD (Which is the best business account)
Hi which business account would be the best (cost-effective) for receiving funds of about $1300 a month I have been looking at these new accounts I,e, Revolt, Wise or Cash Plus. any help would be greatly appreciated
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diversifying small business to save corporation tax
Hi, Wondering if i had two small businesses such as joinery and sandwich van, could they be ran under the same business and the profit from one go to buying stock materials for the other? cheers, Chipper
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Providing services to a company in administration
A client is 20k+ in arrears for a number of services I provide them and have just gone into administration. Ive turned off all but one service so I'm not spending good money over bad. these services are internet connectivity and cloud/email services. left them with email (low cost). The administrator is threatening me with…
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Running a CL caravan site
Previous house owner was running a CL caravan site, I'm going to continue running it and have already obtained the relevant certificates, insurance etc but have yet to start taking bookings. I'm having trouble finding helpful information so any info appreciated. Do I have to register with HMRC as a business/sole trader?…
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Company accounts question.
Hi everyone, So i wrote a small book project and set up a private limited company years ago, which remained dormant. I started to trade this year and made £35 with little no expenses. Its just me as a director and no employees. Normally i do my own tax returns and have done the dormant accounts. However, now ive made a…
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PAYE income tax query.
I am just about to complete my online self assessment for 21/22 tax year. So as usual, I have logged into my government gateway and I noticed a ‘latest news and updates’ box and a section saying to ‘view and print your PAYE income tax history’ I clicked onto it and it’s shows the years up until 2017. This is when I became…
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Payment on account -self employed
I’m a self employed handyman/ gardener my previous earnings have been around 7/8k per year meaning I have no tax to pay but I have volunteered to pay national insurance every year. I have grown my little business slightly this last tax year (April 21 to April 22) and have made a annual pre tax income of just over 13k.…
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Unincorporated or limited
Hi, my friends and I want to set up our own association, approx 30 of us. We have written a constitution and agreed a membership fee to cover public liability insurance cost and club merchandise. Is it better to run as an unincorporated association or to run as a limited company. One member who has his own business wants…
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SELF ASSESSMENT & CAPITAL ALLOWANCES
Hello. I deal with my husbands accounts. 11 years ago he became a self employed window fitter, who sub-contracts, and 6 months into being self employed he bought a new van. At that time we had Accountants doing his yearly accounts. I used to prepare all the details, they checked & submitted his tax return - they obviously…
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New business - Can I borrow money from personal Savings account as a loan
Hi all, I wish to set up a business but use my personal funds to fund the start up, however, I would like the funds to be paid back as a loan and be used as an expense is this possible? Many thanks
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Help- Personal details public via Companies House…
Hello. I’m looking for some advice. My husband set up a small business which has not been taking any income in the last year (due to not running). However, his personal details including date of birth and home address are all available online via Companies House. This is visible when doing a simple google search for the…
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ICO Information Commissioner's Office SCAM?
Hi,Have 2 LTD businesses and received a letter from ICO Information Commissioner's Office requesting £40 for data protection and if I dont pay its a £4,000 fine.Is this legit?The reviews on internet say 96% negative. I've never heard of them.On one business we dont hold any data which is the letter which was sent and…
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Employing your own child as an apprentice
Is it possible to employ my child who is 17 and studying A'levels into an apprenticeship scheme within my own limited company? I cant find any such restriction preventing this. I just want to give my child a good start into the professional life and her studies match my company work too. Many thanks in advance.
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Making a claim against DWP for non payment of invoices
Hi, Hopefully i've got the right forum, apologies if not. I am owed £1800 from the DWP for work done for them. The invoices are now 5 months plus overdue. I have sent email upon email and got absolutely nowhere so feel that all that is left is for me to issue a letter before action and escalate it to the small claims…
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Being paid by Sole trader husband
He will be paying me £500 a month for admin and book keeping, so less than the LeL , he won’t have to register as an employer / pay NI etc. and after March I will have no other income so that’s when he will start. Do I have to do self assessment to declare my earned income? I claim specified adult NI credits via my…
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MTD - what exactly needs to be done to be compliant?
Hi. I've been reading some old posts about 'My Tax Digital' (formerly Portico) with interest. The inference here and indeed on the My Tax Digital website itself seems to be that you need only 'bridge' VAT figures using their software to be Making Tax Digital compliant......and to do that, you need only upload a simple…
