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Returns policy for Jewellery
Hi :) I am in the midst of setting up an e-commerce Jewellery and Hair business. I am going to start with selling earrings and wanted to understand the rights consumers have. With the packaging, the earrings will be placed in cellophane bags that have a seal, then placed into an organza bag which will then be placed into a…
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business questions
Hi all, I am wanting to start a small gardening business, it is still in the planning stage and i have some obstacles to overcome before i take to leap (i.e passing my driving test). I have got a few questions to ask so sorry in advance. Firstly i am wanting to know if they would be any grants out there to get me started…
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Tax refund paid to accountant
This year I've been fortunate enough to qualify for a tax refund on both my business and personal accounts. When returns were submitted by my accountant, their bank details were entered for the repayments. The refunds are worth a few hundred quid, how long should I expect to wait before receiving the funds? Asking here as…
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New to Self Employment
Hey all, So I am new to this self employed thing and I have some questions that I know some on here will be able to help me out with! Question 1 - Tax I do work full time with an income of around £22k per year and I have started my own dog walking business to work around this job. I've got a spreadsheet and I am going to…
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Corporation Tax issues
DS1 has his Ltd Co registered at our address, because he was nomadic until a couple of years ago. We open his post and scan it for him. He has an accountant, and business is going well. However, over the last few months, there have been several letters from HMRC saying Corporation Tax is due. And DS1 has said - the…
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Lloyds business overdraft removal
My wife and I have a business account with £1k overdraft with Lloyds. Currently, the overdraft is maxed out. Recently we had a letter from Lloyds advising that the overdraft is up for review and to contact them asap. When we spoke to the advisor he said they will want to see our accounts. Due to the pandemic and IR35, the…
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trademark infringment
Hi,I have a business started in 2018, was LTD in 2019, been trademarked since 2020. Resently past 2 weeks another business has 100% copied by website and my trademark. I've tried emailing about 8 trademark compaines in the UK no one replies. 1 replied today saying they can send a C&D letter but want £1,200 which I think is…
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New Shop - Business Rates Question
Hello, I am due to be starting a small shop in Preston and would like to know do I need to apply to pay business rates or will this just happen automatically when I begin renting the shop unit? Also I believer there is a 50% retail discount in business rates. Is this correct? Is this something I would have to apply for or…
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Business account funds have been limited!
Has anyone else experienced this issue with their business account? Account funds have been removed because the bank wants you to complete a standard/routine form to update your account details - I hasten to add without informing you first? 7:30am this morning I see that my TSB business account balance is correctly just…
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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…
