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"Basic PAYE Tools" messed up end of year
Not sure this is quite the right place to ask but you never know :) Elderly relative has one employee and does the PAYE tax through the government "Basic PAYE Tools" software. All has worked well this year, calculated the tax and paid it all. Submitted the details to the government, done the last payday of the Year. But at…
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How to properly record £5k loan from director in CH accounts / HMRC?
I'm doing the accounts for a small non-profit company. It's not a charity, but it has non-profit clauses in the constitution, so most of the income is through grants from grant-making foundations and donations. One of the directors has loaned the company a £5,000 interest-free loan (just before the end of the financial…
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Xero signup offers
Hi, we run a small chauffeur business and have got to the point where our current accounting system isn't up to the job. We thought that having just started a new financial year and being quiet with coronavirus this would be a good time to setup and learn the system. We have decided on Xero as our booking platform will…
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Self-Employed Flat Rate Working From Home - Any Plans to Increase?
I've been using simplified expenses as I've been working from home for the last 3 years. Obviously, this tax year energy costs are going to be substantially higher than last year. Does anyone know of any plans to increase the flat rate for simplified expenses? I know it's probably a no because the government are always a…
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Furnished Holiday Let Tax Status Question
Hi everyone, I've got some BTL properties, it's my only source of income. I've been doing tax returns for years and am familiar with that. I've just listed a Property on Airbnb full availability, all year around. Now that I'll be a FHL owner, do I need to register as self employed or sole trader or can I do nothing and…
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Desperately need advice regarding business
I have a small business with a small number of clients. Due to these difficult times, the business is losing clients right left and centre, to the point where I'm having to top up the money (out of my own personal savings) to cover the wages of my 2 employees. The company is no longer profitable and I cannot afford to pay…
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Self Employed - Can I have a volunteer?
I can't seem to find an answer for this. I am self employed and run a small freelance business. If I am ill or unable to work for some reason, is it okay to have an unpaid volunteer take on some of the work just to keep the business ticking over? Admin and such? I'm just thinking of contingency and if my partner could step…
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Flat Rate VAT after 1 April?
What's the rate of Flat rate VAT after 1 April 2022 for catering small resturant? Thanks
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Buying a pub to turn into a b&b ?
Hi, so we have been searching for suitable bed and breakfast premises for a while with relatively little luck. What we do keep coming across are closed down pubs that have the current proprietors just living in them. We know most of these have been denied change of use to residential, but my question is, how likely would…
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Self employed national insurance contributions
Hi There, Following the Chancellor's spring statement from the start of the 2022 - 2023 tax year there will be no Class 2 National Insurance contributions due between the Primary Threshold and Lower Profits Limit. Until now the self employed have had to pay Class 4 National Insurance contributions once their profits have…
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card machine companies not giving important information
i Signed up with Takepayments for a card reader for my new business. i never received a copy of my contract and i called them today to cancel as i thought i was almost up on my contract. i dont use the card reader anymore and closed the account that the money was going in to. there was more being taken out by Takepayments…
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Contract
hi , I am wanting some advice on how to get out of a business contract that says I am unable to leave it please ?
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Online Card Processing Options
I'm selling goods online via my own site and currently using Stripe for credit card processing. I'm currently processing about 250 card payments a month for a gross volume of ~£16500 or so. Assuming they are all UK cards, this brings fees to about £281 a month. I sell probably 10% of my orders outside the UK, and stripe…
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Kickstart Scheme Payment Gateway Bust - DWP won't pay
Hi, My company uses the government's Kickstart scheme to provide jobs. Today we where notified that our payment gateway, the intermediary that facilitates payment, defaulted or may have on its grant agreement with the DWP. The DWP has suspended all future payments for our current Kickstarter employees. Meaning they have…
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Company Name and Services Change
Hello - I wonder if anyone can help me? I have a limited 'dormant' company, as I have been trading as a sole trader. I would like to change the name of my company and what it does, ideally without needing to start the process again. Does anyone know if this is possible, and if yes, what it might entail? I am hoping to keep…
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Starting a supply teaching direct company that I work for as a supply teacher
I'm interested in setting up a supply teaching direct company that would be a bit different to normal supply agencies. It has been done in other areas, just not in my area yet. I would like to work as a supply teacher still and it be more direct communication between supply teachers and schools. Like the company teacher…
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Small Business Scaling
Hello you wonderful people, hope you had a great start to the week. I have for several years ran a business on my own, starting blogs and doing online marketing. I even experimented doing some buying from china and re-selling on eBay and made a small profit. I have retained profits but struggle to know what i can do to…
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Becoming an employer?
Bit of a query for those of u with experience..... In Dec the Mrs set up her own domestic cleaning business as a sole trader. It's gone mental and she filled the 38 hours a week she wants to do within a month. We are confident, given the level of interest that we could double the clients within a month if we employed or…
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Starting a business from a hobby - advice
Hi everyone, I’m hoping you can help me and I’m sorry if these questions have been asked before. Last year I went on a career break which turned into me taking voluntary severance from my full-time job. While I was off work I began making Christmas decorations and trying to sell them on Facebook and Etsy. It was a very…
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Paid deposit signed contract, then resign new contract but hidden charges, do they count?
HI,I run a event every year at a building, in 2020 I signed a contract and paid a deposit of £1k.The event was poseponed due to covid to 2022. Then couple weeks ago a new contract which looked identical was sent with a slight change about if there is a virus you still need to pay the fee, but then after signing and talking…
