-
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…
-
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?
-
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.
-
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.
-
Recruitment websites
Hi allDoes anyone here know any decent websites for finding workers? I've tried Gumtree and it didn't work at all, I've also tried Indeed and my experience with them wasn't great, it costs too much and their "free" service doesn't seem to work well. Any suggestions other than those two, or any general advice regarding…
-
Data privacy - Customer moaning
HI, Been running a website for over a year now and today had a person saying they are going to contact to police and report my website because I took there data.I dont know if there metal or what, we have a Privacy Policy page on the website.I asked them what information is it we have took that they are concerned about and…
-
Delays at Ports for Imports
I've got a pallet from China that arrived at Southampton at the beginning of the month. Customs clearance has happened but there is a delay unpacking the container so that the individual shipments inside can be delivered. It has been on the quayside for nearly four weeks now.Does anyone have similar experiences at the…
-
Someone reselling my product without permission
Hi,We have a product that is trademarked that we sell in singles and in packs of 20's.A person emailed me asking can he have a wholesale price, which we dont offer. We've noticed over the last month they had been buying boxes of 20's and probably spliting them into singles to sell online.We don't do wholesale and we dont…
-
Construction Industry Scheme (CIS)
We had some great info on here a while ago about a business
bank account- thank you. My hubby is soon to be leaving a specialist job in the construction
industry – semi retirement. He only wants to work about 2 says a week in
future. We have virtually set everything up for him to become self employed. He
may go back to the…
-
Paying for business banking - am I being a tight wad?!
I run my all small IT consultancy business, a limited company with my my wife and I as Directors. My current account is with Starling, and I am super impressed with them and the service they give. For various reasons, I like to have a separate account that I transfer some cash to each month to cover the tax bill. Ideally…
-
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…
-
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.…
-
£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…
-
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…
-
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…
-
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…
-
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…
-
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…
-
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
-
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…
