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Challenging Business Rateable Value 'Lock Up Garage'
Could anyone advise where I could find out about how the rateable value is calculated. Our property is described as 'Warehouse and Premises'. When drilling down into how the rateable value is calculated, there is an element described as 'lock up garage' in the value. A figure has been assigned to that. Other similar…
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Sole trader advice
Hello All I need a little advice, I am a sole trader Electrician, my wife is changing job due to her health and will be working 10 hours per week in a school, to help her drop in income and to help me with my endless paperwork:) I'd like to pay her £200 per month doing 4 hours per week for me. What do I need to do to make…
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Partner's business registered at my address... implications?
I had no idea where to put this question so apologies if it's in the wrong place... I live with my boyfriend who has a small business which is registered at our address. The house is in my name only with no mortgage. I'm not involved in the business in any way. I've no idea if there are any implications or any potential…
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VAT - Can I backdate after registering ltd company?
I went over the VAT threshold during a busy period of growth/sales from Oct-Dec with a sole trader business. In January, my old accountant advised me to register the business as a limited company and then put the past 3 months of the sole trader sales/VAT on the company which would bring down the amount I would be fined…
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Grants
Hi, I am currently applying to the government - They are looking for a new phonics programme. It has taken me 7 years to produce 2/3rds of the work, which I've paid for myself, but now the gov has a deadline of 10 months to finish the work, so I need to outsource some of the work, but I can't afford too, Its a bit of a…
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Retailing from an office premises
With the changes last year to commercial usage I wondered whether it’s legally possible to sell items from an office space? I can’t find the answer anywhere!
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Is it possible to register a CIO/charity without a bank account?
Hi all, I am not sure if this is an unusual one or not. The local council wants to get rid of the local hall. However, due to public opposition they are willing to hand it over to a community group for a year to see if they can make it viable. They are asking for groups to come forward and essentially bid to take over the…
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Going from Hobby business to self employed
Could I get W little guidance. for the past 6m I have been running a small hobby business - under the personal allowance threshold and not needing to be registered as self employed before I am under £1000 profit. Due to recent contact from some businesses wishing to sell my products, I have decided to become a real…
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Quickbooks SA Question
Could I ask a little question about quickbooks please. I have began using this for my small Etsy business, connected to my Etsy acc and transferred my sales over. however, I have noticed looking through the transactions that any payments Etsy make to my bank acc (sales minus fee’s) appear as negatives on my transactions…
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Treasurer's accounts
I am about to take over as treasurer for a Committee which organises School reunions. At present we have an outdated passbook account with Nationwide but they are closing these accounts and, as we aren't a registered charity, they won't give us another account. Can you help please?
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Starting a Ltd company
We are two couples, who are thinking of starting a business together. The idea is to purchase a vehicle (between the four of us), in order to rent this out. The profits will then be returned to the business with a view to possibly buying more vehicles in the future if we are successful. One of the individuals already has a…
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Unincorporated group
Good afternoon Hopefully I've posted this in the right place - I'm re-writing a constitution for a small unincorporated association. We want to remove all the unnecessary words so we can understand it a bit more and make it more engaging - I'm stuck on this bit with the nothin herein it wording :/ Can someone help me write…
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Accounts package similar to Quicken
I am self employed and also have some lettings properties. I have used Quicken for years and years for book keeping allowing me to easily keep track of my income and expenses and then to be able to print out a categorised report to hand over to the accountant who fills in my tax return. However it has now stopped working…
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Keeping myself right RE: SSP/Sickpay from 1 employer while working my small business.
I'll try to keep this to the point. I have a part-time job working for the NHS 2 days a week. Since the end of January, I have been signed off sick with anxiety due to covid. I also have a hobby business, at the end of March I handed in my notice (Covid isn't going anywhere, and returning is untenable to me), I decided to…
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VAT for small businesses
Hi, I'm starting up a new digital marketing agency where I'll be charging clients monthly on an hourly basis. I don't expect to make more than £500 per month as profit, especially during the first year as I'll be targetting smaller local businesses. Therefore, I can't imagine that my clients will be making enough revenue…
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A tax question from a new business owner
Hello all, I formed a company last year to run my own business under and I had a few quick questions that I couldn't get clarity on via online research so hoping someone here could help me... for context, I've never had to file my own taxes as I was previously an employee of another company and taxes were always done…
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Changing accounts year end to minimise tax
Hello all. I help a relative to run a small business, including doing the accounts each year. The accounting year is same as the tax year, i.e. ends 5 April. Sadly the business doesn't really look viable in the future due to Covid, and my relative plans to close it and retire at some point this year. I wondered if changing…
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Cash basis - can I add one expense from 6/4 to current fiscal year?
I'm a sole trader using cash basis accounting. There's a sizeable purchase I want to make but the sooner that can be done is Tuesday, April 6, unfortunately. The tax year ends Monday. Is there a (lawful) way to buy this on Tuesday but still claim it as an expense for 2020/21?
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Ltd company from 2017 how far back can I claim expenses?
Hi,I been making a game, each year its minus as im paying out expenses.From 2017 its been about £10k a year.Limited company was formed 2019.How far back can I claim expenses such as wages, marketing etc.The game is releasing July 2021.
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Any idea what this accountant acronym might stand for on a VAT return "Fuel per SDB"
Any idea what this accountant acronym might stand for on a VAT return "Fuel per SDB" I know we could ask him, but we didn't want him to know we wanted to start doing our own VAT. We are thinking it might be to do with personal fuel usage ?? but might be wrong. If I do a Google search, I get a lot about small bombs. lol.
