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Office Bathroom
I am about to move into my first office. The building is unmanaged and so I have to sort out the cleaning/suppliers and everything else myself. I just want to make sure I don't miss out on any important laws when it comes to providing my employee's toilets but also want to make sure I don't have to pay a fortune for it.…
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Business Partnership - only earned 500 - do we need to submit tax return
My friend and I registered as a business partnership last year. I was sent the self assessment tax return paperwork for 2020/21 for the partnership and for myself as a sole trader forming one half of the partnership. In that period we only earned 500 (so 250 each as no expenses) which I believe is under the 1000 self…
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Does the OFGEM price cap apply to business tariffs?
My energy contracts are due for renewal. Unfortunately I am not in a position to sign more than a one year contract because my premises lease needs to be renegotiated with new owners, and the cancellation clauses on the 2 or 3 year energy deals I have been offered are onerous. I suspect I may be better off staying on "out…
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Cheaper international transfers from USA to UK?
Hi all. Not sure if this is the right subforum, it seemed like the closest to the subject I do lots of freelance work for americans, despite living in the UK. They typically pay me by sending money through paypal. We have both grown rather annoyed at the high fees paypal charges though, both for the transfer itself, and…
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Can someone with company tax knowledge answer these questions
Soletrader If I use £7k personal allowance of the £12k tax free, can I
carry that £5k over to the next year? Company When you take out directors’ loan, how do you pay that back,
with salary? What the difference between capital gain loss under company
or personal? If you loan money from one company to another company,…
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Trademark
Hi,I was just inerested in this, so there is a bar that opened about 2014 called Peaky Blinders, which was obviously took from the tv series in america.The bar was on UK TV show on hotel inspector where someone comes in and helps start a business. A year later it opened the USA tv series sent a letter to take this name…
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Lower Tier Waste Carriers Licence
Just checked and i'm registered with the lower tier waste carriers licence. Is this ok for having green waste or wood strapped to van's roof? How about bricks inside van? If a bag of green waste comes off van roof, could the police or whoever prosecute you?
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Financing your business-your savings
If you lend money to your own company is it still classed as your savings? How to do that properly? The same with devices etc. What are the consequences, any costs etc?
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Verbal Leasing agreement
Dear all, I want to start a new training business and local rents are high. I found a local in an industrial state where the current tenant does not use half of the building and he is keen to sublet it to me. Even though he is not allowed to sublet, the landlord does not mind and we have come to a verbal arrangement on…
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Sole trader related questions
Hello. I am bit confused. I have 2 separate questions as clear as possible. Please be kind :) . Question 01: From the rules regarding should I register a sole trader or not. I understand that if I earn more than 1000 GBP I should register as a sole trader. But this rule shouldn't be by itself doesn't count the intention.…
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A simple question - Company Tax
Lets say you bring in £50k profit in your company and wether you take out your tax free directors salary £12.5k or not do you still have to pay 19% tax on that. ExampleProfit £50k Directors Salary -£12.5k Company £37.5k which is tax 19% But is that £12.5k taxed 19%? I.e. is all profit taxed 19% before salary is consided?
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Small business gas meter installation
We've just moved into a small high street shop. The property has a gas supply and MPRN number but no meter installed. I am having a real problem trying to get any progress from utility providers on meter install to get a new account set up. EDF Business say they can't install non domestic meters. E.On sent me an…
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Employed and starting small business as sole trader, should I register VAT
Hi everyone, sorry but it's quite new this for me. I'm currently employed in a company, and I have a chance to start as sole trader to provide a small number of consultancy which should give me 10K-20K of additional income. I understand I'll need to do a Self-Assestment, my questions are related to VAT, on the UK gov…
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Personal Card
Hi, I’m a new limited company owner with just myself as an employee. I purchased some headphones for my company using my credit card as my business card was at home. Do I pay the full £20 back to my personal account from my business account? If so how do I mark it? Thanks.
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Do I need a business bank account?
MSE article 28th June 2021 "Do I need a business bank account?" by Helen Saxon says that you don't need to have a business bank account if you are a sole trader. My bank (Lloyds )T&C say "Without our consent you must not open or use a personal account ... for the purpose of a business" but were not clear on what to do.…
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Help, I don't know where to start, being made redundant and want to start up my own business.
I have been told by my employer the company I work for, is shutting down, but this could take up to 18 months. But I want to start up my own business now so I have something to "walk into" when I finally lose my job. I have cleared this with my employer he's not particularly happy, but understands why. We are a fairly…
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Start up new business
Hi all, This is my first post and i am looking for some support in starting a new business as a recruitment consultancy and i am looking for some support on creating some terms and conditions for my business, email hosting recommendations, and virtual offices. I have found some terms from other companies which is exactly…
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Gift aid limits and self assessment
I know that you can gift aid up to 4 times the total of your income tax and capital gains tax, and for self assessment that works fine for a declaration of the previous year's figures. But if I want to make another gift aid donation at 4 times the limit in the following year through self assessment is the "income tax"…
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Advice on selling Ltd company in debt, or reducing hours.
Hi all, What I'm looking for is some ideas as to how to proceed really. I co-own a limited cleaning company with my girlfriend. We have 8 p/t staff. It started out 9 years ago as something to 'keep the wolf from the door' with me as a sole trader, which was never meant to last long, but it snowballed into a good local…
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Public Liability Insurance and retirement
Hi Some basic information: A talking therapy business running for over 10 years, sole trader. Retired earlier this year and the Towergate PL insurance has come up for renewal. Calling them to cancel the renewal they said that there would a be 3 year 'run off' free of charge in case any claims arose. Reading the…
