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Returns and refund law
Hi not sure if this is the right place for this. I’m thinking of opening an online store which sells children’s toys which I will be having manufactured. I want to know that if someone buys something from my online store and open the item, box, packaging and “sets up” the product…then decides they want to return it within…
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Shipping Courier
Hello all, I'm looking for advice on the best courier service in the UK. Cost effective would be great but service more important. I'm about to setup a B2B/Ecommerce business. It'll ship anything from 1-20 parcels a week. Most parcels small in size and less than 5Kg although there will be a handful (hopefully more) parcels…
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End a partnership: how to?
Asking for a friend. They used to co-own a house, which they rented out. Tax returns all compliant: partnership, both individuals, all up to date. House sold some time ago, final returns which would include this income source dealt with. Other partner has been unable to find the right form to end the partnership. Is that…
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Director's loan account
Can someone clarify somethings for me because the only info I can find online is if you take money out via a Director's loan? I am the opposite - I have given/loaned/lent my newly formed limited company a large sum to get it up and running. Is it true that I can take money out as repayment of loans INSTEAD of a salary/wage…
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Commercial Property being sold by Landlord
We have been renting a property for 20 years, for the first 7 we had a Heads of Agreement Lease and then when that was due for renewal in 2011, we did not sign a new lease and continued to pay rent on a monthly basis since then.. Fast forward to 2023, the landlord has passed away and the beneficiary of his will is looking…
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Why can't you open a business account these days?
I have banked with Barclays for over 20 years and was told today that they are not opening any new business accounts at the moment. So I had a look around and none of the major High Street banks are making you feel welcome. What on earth is going on?
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Sole vs Limited Company
Hey folks - looking for some real world advice. I am due to speak to a tax advisor this week, but being a little impatient :) I have been a sole trader for 7 years working as a comedian, however over the last year or so I have diversified a little bit into event management and promotion as well, and now have several…
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Personal Tax Allowance not show in my Self -Employed Assessment
Hi Can you help, I have entered all my details on the HMRC self-employed assessment for 21-22 but the calculation for tax I owe is wrong, as it does not take in account of my personal tax allowance, in total I earned less than 20K, Just call HMRC this morning on hold for 1hour, once I got through there system was down and…
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Small Claims - Payment offered but rejected
We are in the process of making a money claim online, the defendant offered a payment and made it before we rejected it. Mediation failed so it is now going to a hearing. They are asking for the money they paid back, do I need to do this or should we wait and see what happens in court. They offered £100 but paid £120
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CCJ REPAYMENT
I have taken to court a customer who owed me for services provided. I have used a Solicitor, at considerable cost and the debt has now increased to just under £5000. There is a CCJ recorded. High Court Baliffs attended the business address and reported back, no contact with the debtor and was aware the property was owned…
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Late registering partnership advise please
Hi, myself and my partner are individually registered as self employed. As of November 2021 we set up a partnership together (new venture) but failed to register this new partnership with hmrc as we thought this was done at the same time as tax return. We have just discovered the partnership return should be submitting…
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Sole Trader giving leasehold business assets away to a Limited Company
Hi, my partner has had no luck with selling his business. To save him the trouble of folding it, he has offered it for free (including all assets) to another business owner, in the same field. I believe this owner is a limited company, owning one business already. The lease can easily be re-assigned by the lessor, the…
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Seiss took SE income over threshold BUT Martins advice saved a fortune on Tax bill amount.
In case it is helpful for anyone I wanted to highlight a small success, inspired by checking Martins advice site once again. My partner is a sold trader who lost all work in creative industries during the pandemic and was therefore in receipt of Seiss payments. These were a godsend and effectively kept his earnings on the…
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Companies House dissolved small limited company as I missed Confirmation Statement letters
I wondered if anyone else has experience this, as my bank said they'd heard a lot of it happening. I have a small business and was shocked to find my business has been dissolved a week ago. My bank account has been frozen. I now have to go through a process to reinstate everything with fees around £1k. On my first…
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Adding VAT to a quotation retrospectively
We accepted a quote for a bathroom refurb some 7 months ago. The work has been delayed for several reasons but is due to commence next month. We’ve just been told that VAT now has to be added to the quote as the tradesperson has reached the £85k limit and now needs to register with HMRC for VAT. Do we have to pay this or…
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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
