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VAT Flat rate scheme - self assessment
Im looking at registering for Vat as I want to expand the business to sell more which will put me over the threshold to register, but will be under the 150k that allows me to use Flat rate scheme. If I register for flat rate scheme, I do a vat return every quarter for a percentage of turnover, I understand that. My reason…
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Sole trader business/personal vehicle
Hi After a working lifetime on PAYE I'm taking a relatively early retirement later this year. From April 2026 I'll be going self-employed as a sole trader and I'm just trying now to mentally get some ducks in a row. I will be doing very local garden maintenance and lawn care. I can't fit a lawnmower, scarifier, strimmer,…
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Limited company unpaid invoice
Hi I was working as a limited company consultant and dealing with a number of projects for engineering consultancy. My line manager asked me deal with a number of projects and getting progress for projects and asking me to complete the tasks and assigning me projects. I was managing my own hours but was billing client…
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Left with a worthless franchise
I would like some advice please. I did my due dilligence and bought into an existing franchise which extolled itself as a leading company in the field and promoted the longevity of the company. I was introduced to a number of people to help obtain start up funds for a 5 year period. Initially, I was informed it would take…
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Bringing a shareholder on board - Concerns
Looking for some advice - we have a small business and currently 2 of us are directors/shareholders with a 60/40 split. We are looking to bring someone in to assist in certain areas and to limit cost to the business an option raised has been to make them a shareholder with 30%. Some questions and concerns I have are below…
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Sales From Website Dropped Off A Cliff
I run a small business with most of the sales coming through the web site. Recently, sales and views of pages are much reduced. Google seems to have demoted pages so they are no longer getting views. There are some suggestions online that Google has changed its algorithms and small businesses particularly are suffering. My…
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Plumber being taken to Court
Hi all, up until a few months ago my hubby had his own plumbing business and one of his former customers is taking him to court as he doesn't believe that the job was carried out well, that the wrong parts were used and that my husband damaged his property. He has only paid my husband £4,500, but is taking him to Court for…
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Can equal shareholders receive unequal dividends?
Some advice needed on dividends please. My 3 siblings and I are equal class B shareholders in a company my father is director of. Dad intends to give dividends this year 2025-2026 to 2 of my siblings (to repay loans they’ve previously had from each other or the company)- and my 3rd sibling was told the money is there if…
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cash basis accounting - end of year confusion
Hello folks, any help with this puzzle gratefully received:I made a pension contribution on 4/04/2025, it was pending for a bit and then showed up in my pension dated 4/04/2025. So far so good. However my bank account has dated this transaction as 7/04/2025. So now I don't know whether to include this in my self-assement…
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Google SEO
Our business has been trading a year and we are now looking to grow - its a plumbing sole trader business and I would like to get more interest from google. Spoke to a couple of tradies (electricians and roofers) who obtain almost all there work via getting a decent rank on google searches. I am aware of what SEO is but Id…
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Home insurance when manufacturing cosmetics/ soaps from home
Hi, I was wondering if anyone could recommend a home insurance that covers making soaps / bath bombs from home? My home insurance company wants to stop my cover as I informed them that I will be manufacturing from a room in my house. I am struggling to find insurance company that will offer competitively priced home…
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Advise needed.. limited Company/Sole trader
Hi My husband and the man he works with have always been Sole Traders. Sub contracting through CIS Scheme. Other man is now setting up as a limited company and my hubby is going to continue to subcontract through new limited company They have asked him to go share the cost of buying a van. My question is where does he…
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HMRC RULES FOR SELF EMPLOYED
HI all, my husband is a self employed painter and decorator. We got married last year and I have been typing and sending his quotes and invoices. I've kept a spreadsheet of the work I've done but we don't know if I bill him for my time if it's a tax deductable expense? I currently am employed but will be taking ill health…
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National insurance
How long after the end of a tax year does it take for National insurance to show up on an employee’s tax record when they are credited due to being over the LeL and under the primary threshold? As far as I know they are credited automatically in those cases but I’m just wondering if there’s anything I have to do as an…
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Side hustle profit below £1k
I have a private pension below £12570 and I do exam prep tuition in the spring term which profits less than £1k a year so have never filed a self assessment. Am I right in thinking that as both are below the threshold for tax that I don’t pay OR are they added together and therefore need to submit a self assessment asap…
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Death of a director, passing to surviving director (spouse)
My husband and I are joint directors of our Ltd company. I am the person with significant control Sadly my husband has just been diagnosed with cancer I always assumed the surviving director automatically carried on running the company, but it seems to be a bit more complicated than that We have wills leaving everything we…
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UK - Closing Down a Limited Company
My brother and I have a limited company in the UK we wish to shut down as cheaply and easily as possible. The company has had no income for years. We still need to file our April 2024 to March 2025 accounts (which again is zero income). We have some old colour printed boxes (of a product that failed to sell) that were on…
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Capital Introduced on sole trader accounts help
Hi All, I've started out a new venture hiring out a Land Rover Defender with tent box. I've discovered since it is trading that I can offset losses against my PAYE. I have engaged an accountant who hadn't heard of this but confirmed it and they sent me a spreadsheet through to put my expenses down. Now in the tax year…
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Making tax digital for gig economy workers?
I get all my income from working on online platforms and am worried about being forced into MTD if I cross the £30,000 threshold in 2025-26 tax year. I've looked at MTD software but it doesn't seem designed for people like me. My process is to log onto a platform, choose work I want to do, and get paid via PayPal in USD at…
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Final business tax return
Apologies if this is in the wrong section. My wife and I are closing our partnership business at the end of this financial year and so i will be submitting the final tax return. Is there anything i need to inform them of on the return other than closing date of the business? I don't want them sending another form for the…
