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Operating a business from home - considerations
I just wanted some general advice. I’m toying with the idea of starting a business and operating from my home. It’s based around my own crafts that I want to go on and sell preferably through an online platform. I don’t own my home, I rent. What would I need to take into consideration? Such as insurance? Permission to do…
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Cheap registered office provider for UK Ltd Co.
Hello, I moved back to Ireland but have two companies that I need to find a service provider that I can use for company registered address. There will be minimal correspondence e.g. Company House letters, occasional bank letter (non statement), HMRC. I do accounts myself so just an address maybe occasional mail forward.…
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£200 - Monthly cost for a good account for a small business OK?
Hi Guys, I'm a partner in a small startup business, there are 3 of us currently but we are doing well so we've gotten to the point where we need someone to do our accounts properly. We've been quoted £200 a month for someone who is very trustworthy and qualified, plus he has worked with us in the past. He will be mainly…
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Pay Pension as Employee Contribution or Company Contribution To "Increase" wage to get mortgage.
I'm the director and sole employee of my LTD company and I'm sorting out the pension just now and I'm thinking
long term about a mortgage. If I pay myself the money, then put it in the pension
fund (employee contribution) it will inflate my income helping to get a mortgage but the company will
pay more tax on its side. If…
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Annual leave for the year
I employ a couple of staff, full time. I have now taken on a part timer and need to check I am calculating their annual leave correctly. Full timers work 7.5 hours per day, 5 days a week and get 28 days per year. They get 7.50 x 28 = 210 hours per year. They can take hours, half days etc when they want leave. The part…
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Closing a small business - access to money.
Just prior to Coronavirus hitting, I had the opportunity to go back to being Employed from being Self-Employed. I was not sure if I wanted to be employed, but given the way Covid is decimated my previous sector and falling through the cracks of Mr. Sunak's "Support" package I fell lucky. The fact that I quite enjoy this…
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Company amex card
I'm probably being very naive here, but I've been offered an amex credit card for our small business and told that it can be used with numerous suppliers that we trade with. After the first year, the cost is £ 150ish pa, and I could build up airmiles. I pay my accounts on time every month without fail (average monthly…
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Anyone taken out a directors loan?
I have received two different bits of advice regarding a directors loan.I have taken out a loan for 27k and I am paying interest on the loan back to my company at a rate of 2.25% (stated minimum required by HMRC). So as I am paying interest there is no benefit in kind to me. But the loan amount will still be outstanding…
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How to sell a business
Hi Can anyone advise how do you value a self employed business for selling? Vat registered business turn over over 100K Thanks
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Complicated (to me) structure, organisation and expenses of a new business.
Hey, This might be long as I try to accurately explain the help and advice I am looking for. If anyone on here can advise on my situation, that would be great. Or alternatively point me in the right direction of 'who' I need to speak to... accountant, tax advisor, business advisor etc... I have three separate…
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Sole Trader / NO VAT / Invoice in Euros / Accounts / Online Classes / Training ONLY
I have a few questions about how to manage my situation post
Brexit. I will also be looking for an accountant as well. Facts (Even if they are obvious): 1. I am a UK citizen, born and bred 2. I want to be a sole trader at first 3. I want to start 6th April 2021 as
that is the start of the fiscal year (I think). I…
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Can someone invoice you for the previous 5 years of work? Out of the blue!
We have used an accountants for the past 5 years. The bookeeper has regularly invoiced quarterly and the company has filed my corp.tax and self assessment. They have never mentioned a payment for this. My bookkeeper is unwell so I decided to change company. The company has now invoiced me for 5 years worth of…
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Volunteers at a Ltd. company?
Hey everyone, I'm a University student currently going through the process of registering my small business as a Ltd company, It won't actually be making an profit yet, as I plan on reinvesting all the money back into the company. We currently have a few volunteers, and without going into details of the company, they're…
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Employment and Self Assessment
Hello all. I’m new to the site, (although have often referred to it). I’m self employed, (sole trader) since November 2017 and do my own tax returns. My expenses are high, (mostly software and mileage) and only work part time so am below the threshold for income tax. I also work 9 hours per week in paid employment which I…
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Starting up- Self Assessment Questions
Hi. I’m in the process of setting up my business but don’t think I will be ready to trade until after April. Can I carry over my start up costs to next years Self Assessment? If so can I also include the cost of my training course which was paid for in instalments going back to 2018? Or, should I register as Self Employed…
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Virtual Event Management Help
Hi, Does anyone know of any Event Management Companies who can help me orangise a 2 week virtual event please? I have all the content and itinerary etc, I just need help organising the virtual part of it - which will be done via Instagram and Zoom. Any help and advice would be greatly appreciated. Thanks.
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Franchise Solicitor help
I’m due to take on a franchise later this year. Just putting feelers out there for any good solicitors that specialise in Franchises. Does anyone know of any?
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How far back can you claim expenses?
I've been making a game and the last 5 years its cost £10k in expenses each tax year from 2017.Expenses are hiring people and getting artwork done.The game should come out July 2021 this just missing the 2020 tax year.I check the internet and get 4 years but a new accountant I'm looking into hiring says 6months which i'm…
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Am I calculating this wrong?
I'm planning on selling secondhand items on eBay. If a seller earns over £37,701 then they'll pay 40% tax on their profits. Earning over £967 per week means you'll pay 2% NI. If a seller earns over £85K, they have to register for VAT. If a seller only sells secondhand goods, they can use a VAT margin scheme, so they'll be…
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Options for getting a business phone number for a very small business (2 people)
Hi, I wondered if anyone had any suggestions for the most cost effective way to get a business phone number. It is for 2 people, who will be out and about for half of the week, and based at their respective homes for the other half. My first thought was a cheap pay as you go phone each with new sim. But one home does not…