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5 yearly upward only to market rent...
We're looking to get a sign up to a 10-year lease on a small warehouse. The landlord has a break at the 8-year point. Leases in neighbouring properties end then, and they may want to do a big refurb. With this in mind, they've lowered the rent to 66% of market rate. This all weighs up fine for us, but we are concerned at…
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Car for business
I am an self employed electrician who does agency work on work sites. I need to replace my car which is an estate for my work tools etc. With second hand prices so high I’m struggling with options around £8k as a “normal” purchase. Can anybody give me any advice on purchasing a car as a work vehicle through my company?…
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Considering consulting - tax questions about first assignment
Not sure if this is in the right section as it's related to tax, self employment and freelance/consultancy. I currently have a full time job but i am dripping my toe in the world of consultancy to see if it's something i can do full time and leave my current job. I currently earn 50k so in the 40% bracket. I have a small…
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How long for tax repayment?
Hi. This is my first year of filling in a tax return as I have just set up my own business. I am due a repayment as I have over paid tax, which I have requested, but I am just wondering how long this usually takes. My husbands repayment came through in 48 hours, from when he requested it, but mine has been a couple of…
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£1000 Allowance
I am a collector/hoarder & have decided to thin down my collections & not leave a problem for my heirs to sort out. A friend says if I sell more than £1000 worth in a tax year that I have to declare it to HMRC. I have looked on the HMRC website & there is a section on "Tax free allowances on property and trading income"…
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Invoice - date range
Hi, on my invoices for one of my customers its more convenient for us both if i calculate hours and cost per week rather than per day, e.g. February Wk1, Wk2 etc. Would this be acceptable to HMRC? Thanks
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Opening a Shop - Free Business Rates For A Year?
Hello, I was interested in opening a shop and I was told by someone that if you are a new business you would not have to paybusiness rates for the 1st year. I do not believe this to be true as I have not seen any information regarding this. However please could someone confirm this. I tried to call my local council and…
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Energy Agent mis-sold contract with EDF -who now void contract, massive price hikes - Advice please!
Hi There, This is my first post so bear with me if I make any Faux Pa's (I have put this in the business forum assuming I may get told off if in the consumer area). I'm a partner with my parents who are in their late 70's, in a family business. On 26th August last year, my Father signed up with Bionic to change our…
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Delivery help
Hello! Back in December, I sold 2 meter boxes to a customer online. Day of delivery customer called to say they had been damaged in transit which I sincerely apologised for a sent replacements out and then claiming the cost from the courier. As the goods were delivered on the 14th of that month and I hadn't heard from the…
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What sort of car insurance should I get?
This thread is specifically about what sort of insurance I need to get for my company car which I will be using personally. I know some business owners just get private insurance and declare that the car is company owned. However as I plan to put graphics and branding on the car, will personal insurance cut it? Do I need…
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My Accountant has passed away and my taxes due
I have just found out my accountant of 15 years who was a sole trader passed away, and her funeral was last week. Her daughter contacted me after a few of my emails to find out my accounts progress to her Mum to tell me whilst I was semi awake. Does anyone know what happens as her daughter suggested that there would be a…
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Public Liability Insurance for individual with IVA
How do I get PL insurance with an IVA on record? The IVA was taken out four years ago, with one year left to pay. But I keep being refused quotes because of the IVA. I have a small hobby baking business but wish to sell at markets. Markets require proof of liability insurance certificate in order to acquire a stall.
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Best card reader for sales...?
Currently have the Paypal here and find it works find but have been advised to look at Zettle or Sum up? Any advice?
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VAT Question
Hi everyone My friend asked me a question about VAT on new builds yesterday and I'm not quite sure about the answer. He is a subcontractor builder and has just started a job on a new build where he has been told he does not need to charge VAT (it is a qualifying build). He has, over the past few years done work on other…
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What can be done about a competition business owner leaving a negative review for my business?
Hi all I'm looking for some advice for dealing with a competition business owner that has left a negative Google review for my business, to clarify that's the only negative review my business has, it's really disappointing because I go out of my way to make sure that my customers are happy with our service which is why all…
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Accountants held accountable?
Hi there, I'm not sure if you can help but here goes.. Our accountants failed to inform the HMRC that our trading partnership changed to a Limited company in 2019 therefore, in the eyes of the HMRC we were still self-employed when the SEISS grants came out. We received a SEISS letter through the post stating we were…
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Starting a business - Help urgently needed
I'm in full time employment but started a side hustle in 2017, it earned next to nothing that year (under £300 for the whole year). I've plodded along since then, always thinking I was earning too little to make this official. But after a friend advised me to check the gov website, I calculated all of my earnings since…
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Investec Bank
As a director of a Ltd company, I have used this bank in the past to invest in a Business Savings account. When the rate dropped I closed the account (as most people would do).. I made an application online for a 32 day business savings account this week and got rejected. On enquiring as to why (as all the reasons they…
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Brand new business - when do i file tax?!
Started a new business in November 2021 Have been reading up on the tax returns (yes i know i'm a little delayed, please bear with me, running a second business AND working full time with kids is pretty hefty) and it says on the HMRC that i dont need to Register until 5 Oct in the business' second tax year - which would be…
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Personal Savings Allowance
I'm currently doing my self assessment tax return and I have received interest from a bank account under the £1000 personal savings allowance (PSA). When I enter the amount into the gross section it is trying to tax me and if I enter the amount in the net section it is trying to refund me tax. There is no mention of the…