-
Closing a limited company with no money
Hi, Would anyone please be able to help me regarding a limited company that was setup about 4 months ago and I need to close it. The reason was that I was planning to setup a restaurant business. At the time I didn't do much research and simply I paid Company Formations to set it up and they did everything for me. However…
-
Setting up Mileage Expenses
Hi. I am looking into paying our staff mileage expenses. They all use their own personal cars. I don't know what to set the amount at though. I know we could cover the full 45p per mile. Would our staff be better off getting the full 45p from us? I am guessing they will get less when claiming the difference from the…
-
Lease equity?
Hi A friend leased a shop from the council 20 plus years ago. The lease I understand cost about 20K. The business now leases a year at a time, due to the original 20 plus years having elapsed. Is there any value in the lease if you see what I mean if the business were to move on and someone else take over the lease? Thanks
-
Any other business owners noticed a big drop in turnover the last 1-2 months?
I am involved with 3 different UK businesses, each of them is in a totally different industry from hospitality, to car products and online services, and since covid they have had many ups and downs good times and bad and although Jan/Feb are usually quiet, however since Xmas this year all of them have been hit way harder…
-
HMRC Set up a limited company - how??
Been on the HMRC website for 30 minutes, cannot work out how to set up a Ltd company. Can anyone tell me where to do this on the website. The site is rather confusing and badly designed. I'd like to set it up myself. Many thanks
-
Leasing new shop when whole building up for sale
We have a shop on the edge of a small town and have been keeping an eye out for suitable premises in a more central location. We think we’ve found one that suits us and is in a great location for the business, but have just noticed that the landlord has decided to sell the building (retail unit plus 2 flats above). Has…
-
GDPR question
I bank with Mettle, have been with them for the last 12 months. Today I've received notification that they are reviewing my account. They've picked out 4 transactions that they would like more information about. They are incoming payments from other people that have been invoiced. All businesses. They haven't specified…
-
Being asked for a cancellation fee I didn't know about
I contacted a printing business for a quote for some personalised shopping bags. I went back and forth with them on the design and then they asked if I could approve the design, they would then send an invoice and I would have 30 days to pay. They sent over the invoice for 100 bags, however things took a turn for the worst…
-
Self employed overdraft or loan?
My husband bought a franchise 11 years ago, he borrowed £40k off the bank a couple of £k off parents and we paid the rest ourselves out of my redundancy money. Fast forward 11 years, the debt to family is all paid, he has been “paying” us a monthly amount which has increased steadily but is not a massive amount. I recently…
-
Can limited company make pension contributions to a non salaried director
I'm a non salaried director of my spouse's limited company but I'm not a shareholder since I'm am on payroll for a full time job and don't need the extra income for tax liability. Can the limited company make pension contributions to my personal pension as a way of taking income from the business tax efficiently?
-
Free Bank account
I was wondering if anyone has any advice on a business bank account for a small business, think side hustle. I want to keep money separate for accounting purposes, but there are so many options. I would like a free account as I don't see the benefit of a paid account for my small business. TIA
-
Taking card payments in different currencies overseas
Hello! Hopefully someone has some tips on this. I'm a musician in a band. The band is (or very soon will be) a limited company. We're tidying up how we run things. Until now, when we've toured we've used a SumUp reader and APP to take card payments for records and things we sell at shows. Mainly in the UK. We've also…
-
When to register for tax
Hi - both me and my partner have gone it alone in the last year. I lost my job last February and then started on my own (just self employed - not a registered business yet) in August 2022. My partner left her job and went freelance (designer) last July. When should we register for tax and does anyone know first steps…
-
B&B building and public liability insurance - can't find reasonable quotes
In light of the new Scottish B&B legislation, I am now required to have building and public liability insurance. I have a full time job, so only run the B&B at the weekends over the summer for some extra income. I only made about £4000 last year and insurance quotes are coming out at around £800. That's almost 25% of my…
-
Franchise help
I hope this is posted in the right place and thanks in advance for any advice. I am currently considering buying a preschool franchise. I have been looking at the pros and cons of setting up a limited company to buy the franchise, to give some degree of protection. However, the franchisor has told me that even if I do set…
-
Setting up a LTD company - free and easy
Just saw a thread on setting up LTD company's and noticed a lot of people messaging things about how confusing it is or how costly it is. I used these guys to set up mine and it's totes free and took about 5 mins and I had the companies house documents within an hour.…
-
Business energy contract
I agreed a new business energy contract for my gas (due for renewal 01/04/23) , in August 2022. I did this to get a better deal on my electric. Now energy prices have come down a little I can get a much better deal staying with my existing provider. They are telling me that the broker I signed the contract with won't be…
-
Fees have been paid to wrong bank account
Hi I am owed £979 from booking.com for hosting guests over new year -this money was paid to an account called prepay technologies account instead . Customer service told me that there had been outages in Jan which (in my case) obvs replaced my bank details booking.com are a lowest of the low company and I was nothing to do…
-
Another business is buying from us in bulk then selling where we sell.
HiI have a product that I manufacture and sell via website. Some times I get people who have shops who want to sell my product so I sell them in bulk at a discounted rate. The problem is are main income is from google ads shopping and we have sold to another businesses and there selling on google ads which is reducing our…
-
Desktop or Laptop for Business
Hello! We have an old (9 years plus!) desktop PC which needs replacing. It got me wondering whether just a laptop would be better for us. We need Microsoft for the forms we use. Most of the work is printing off the training paperwork/invoices, emailing. We store a lot of invoices/certificates on the desktop (also use…
