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Business Partnership Guidance
Not sure how I should go with this. So I had an online business several years ago that I sold on to new American owners. Over time I ended up back on the Facebook page I had created for that business. I am now the Admin of that page as well as the new owners. Every quarter they paid me around £50 for looking after the…
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Can a sole trader keep the same business bank account if they incorporate?
If a sole trader has a bank account for their business that's separate from their personal one, and they then incorporate, can they keep the same bank account? And if they can, are there any reasons not to? I found this article when googling that says, "Setting up a new account for your newly formed limited company, rather…
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Cis and Vat reserve Charge
Is there a CIS and VAT Reverse charge on waste disposal? Do we need to apply this to our invoices?
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Invoicing software
Hi there I have looked at the usual websites but am struggling... I need something like Wave but which when I log in will let me invoice under two different brands. (I know I could sign up with two email addresses but that is a nuisance). Is there such a website? Thanks
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Waste disposal
Hiya I have recently started a small window repair company and things are going really well,my question is what is the most economical way of disposal of old double glazed units?Thanks
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Tax return for small business
Hi j run a small biz which began in 2019. As I was under the threshold in April 2019, I requested not to file and that was sorted. the same in April 2020. however this year, I’ve not yet received a tax return and when I’ve googled it suggests I’ll have to re register for self assessment? But I’ve got my URN and all my…
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A curiosity one on vat box 7 on VAT return.
Just had a friend's vat return & was curious about items not on a vat return for box 7. I will keep the sums fictitious. Expenses “General” = Nett £100 Expenses “van MOT” with zero vat = gross £100 Expenses “post office” exempt vat = gross £100…
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Checking and improving business credit score.
I have my own business that has operated since 2006. In the early days I had a business loan which was paid off years ago. Using WebCheck I could always see a "mortgage" registered against the business. I thought this was for my mortgage on the business property, even though it is in my name. Last year the charge was…
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Best carrier for a heavy package, price vs reliability...
Hi folks, like a lot of households during lockdown I imagine, I've been getting rid of a lot of dead-weight via ebay. I have a CoOp store very near me and have been using the Hermes drop off point based at the store with generally positive results. However, a couple of times packets have gone missing - both for me as a…
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Micro-Entity Accounts
Hi All, I set up a Ltd company about 8 months ago which, due to the pandemic didn't do very much at all. Long story short, I had to go out and get a "proper job" again. I'm planning to shut down the company but before I do that, presumably I need to get the accounts done. The business turnover is around £2000 but about 80%…
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Startup business terms
Hi All, I was looking for some advise as i am thinking about starting up a business and have found some business terms of a competitor which are very similar to the terms i am looking to create. Does any know if i am able to use their terms by altering and rewording for my business?
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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…
