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Self Assessment and VAT
I'm a sole trader of a small business and I'm looking for a forum where I can pose questions on VAT and self assessment. I can't find the answers using the well known search engine. For example: Over a few years I've forgotten to include an expense when collecting figures for my self assessment - what should I do?
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Ltd company equipment purchase- advice
Hi everyone :) , Long time lurker first time poster here, hopefully it's OK to ask for some advice here. I have recently started a Ltd company as a side business, which I intend to run along side my full time job- hopefully planning to go full time as and when I have built up enough business (but not in a rush). I am the…
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Should I use my High Street business bank for receiving Euros?
It is possible that the bulk of my income for the next year may be paid in Euros. I have a business account with Barclays that appear to offer an exchange service for free so long is comes to me electronically. However, I'd assume their exchange rate isn't very favourable. I wondered if I should just stick with them for…
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Non Essential Shop - lockdown closure - which multi-platform ecommerce site is best to use?
Hello I've had to close my small independant card/gift shop due to lockdown. I'm being encourage to set up an online selling site, but I have no idea which of the ecommerce sites are best i.e. ease of use, monthly costs, selling fees etc.. Is anyone able to help shed some light on this for me as I am a complete novice when…
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Setting up a small business - do I need an accountant or online tools
I retired from the NHS last year. I have set up a part time consultancy and operate as a sole trader. This will bring in a small additional income (approx £15k pa) . I had planned to submit accounts myself using self assessment. Is it worth using an accountant instead? Or a digital tool like Quick books? thank you
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Employed and self employed - taxes
Hi all, I’m just about to start a new job working full-time with the NHS, but in the last couple of months I decided to buy and sell some goods on eBay, which I’ve made a few hundred. I think I’ve complicated Things for myself as I’m not registered as self employed or anything like that and want to declare it. Do I need to…
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Fitness studio and council question
Hi My other half runs a fitness studio as a 'sole trader', she rents the studio from a guy who uses it for his martial arts classes business and they basically share the space as it works out they don't use it at the same time. The studio is in a 5 story building with a 'one stop' mini mart on the ground floor, studio on…
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Amazon holding over £20,000 of funds due to a problem with a £70 sale
I have had a problem with Amazon holding funds. It was caused when a buyer bought something for £69.99. The buyer didn't return the item and so they weren't refunded but they opened an A to Z case. The problem with that order has ow been resolved, they returned the item. I moved all my inventory to Fulfilled by Amazon…
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Counterclaim Against Landlord Small Claims Court
Hi all, my landlord is trying to sue me, claiming I owe him a small amount of money (I don't, it's malicious). I would like to make a counterclaim for the damage caused to my decorations and property when he left the roof leaking for the best part of a year. He's using money claims online. I can't see an option to make a…
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Self assessment strange scam
So little back story , recently applied for my utr number ... waited never got it got a bill, and bill demanded pay 100 to hmrc fine . I wasn’t there so partner paid I get back and said what on earth you paying that for I’ve not had a business to get fined a 100 .... so here goes I calm you hmrc and say why am I being…
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Google has taken £500 & I can't speak to anyone about it
Thank you for taking the time to read this message. I am a freelance photographer & film maker and like thousands of others in all sorts of businesses use Google Ads to drive a bit of traffic to my website.My Google ads account has been illegally accessed (hacked) and used to create unauthorised ad campaigns that has…
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Looking to buy my employers business, help!
I currently manage a café, and have done for 11 years. The owner is looking to retire, and has offered to sell me the business. I'm very interested, but don't know where to start. Any advice at all would be gratefully received
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Completely lost choosing a business structure and tax/contribution payments, please help.
Hi,I am currently writing a business plan and I've come to the financial section. I've searched the internet for calculators but I can't find anything fully comprehensive, in other words a simple calculator where you can enter business type, amount of people, income, outgoings, NI contributions etc etc, so that I can see,…
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Registering e-commerce site w with HMRC - sole trader or partnership - please help!
Hi there, So me and my partner have recently set up an online business. We've been trading for around six weeks, but luckily have currently made around £13,000 revenue and £6,000 next profit, so I know we need to submit a self-assessment tax return. We both work full-time alongside this online business, we don't intend on…
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Which e commerce hosting site is best for low value items?
Hi all, just after some advice, I need to set up my own e-commerce website, I currently sell on Etsy, which obvs has selling fees etc. My items are of small value (starting at £4 each) which website builder is the best & cheapest fees? I’ve looked at Spotify, but think their prices are too much for my products? I have over…
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free payroll software recommendations?
I'm looking for free payroll software that is actually free, I'm the director of my own limited company. been using moneysoft until now when I had employees but now theres only me and I don't want to have to pay £80 a year for something if i can get it for free it's a bit of a minefield, they all say they are free and then…
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Recycling for Good Causes - has anyone used them for fundraising?
Looking at using Recycling for Good Causes to help raise funds for a couple of local charities/rescues nearby. Are they a good company to deal with? https://www.recyclingforgoodcauses.org/individual-donors/
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Taken on rent of extra building - will we pay rates on it?
We currently rent a small office space in a village. It comes with an old stable around the corner as storage space. We qualify for full rate relief. We have just taken on a larger barn opposite the stable. It's not much extra and, combined, still falls well within the full relief threshold. The barn is listed as storage…
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Tax help for a small business
Hello, I wondered if there is any way I can speak to a tax specialist for small businesses? i don't need an accountant as such, but need advice on paying tax. I am a partner in a small business which is a Ltd company. We pay ourselves through PAYE, but it is under £12,000 which is our tax code threshold. The company has…
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Are there grants for start ups?
Hello Im unsure if this is the right place for this, so apologies if not. A friend and I are researching starting up a little company but we probably require £2-3k to set it up. I was wondering if there are any grants available for this? thank you