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Small biz MoneySaving

Running your own business? This is the place for MoneySaving questions for small traders.

12 Month Battle Won against DPD courier network
As a small business owner I contested surcharges that were applied to our account by the Courier Network DPD. From March 2019 surcharges of £18.00 per parcel were added to shipments that they considered ugly!!!! Invoices were not paid as I contested the charges amounting to over £500. DPD embarked upon an aggressive…
Gift Aid Small Donations Scheme
As you know, churches have been closed for a few months and it isn’t certain whey they will reopen. Due to this, probably, people will be retaining tithes for future donation. However, some people may wish to donate to their church by way of bank transfer. Provided weekly donations are £30 or below, do these donations, by…
A3 +A5 Use Class or A3 will suffice
Hi All , Hope you are well and keeping safe in this unprecedented time . Hope you can help me with below Query ? We are planning to open a Pizza store. Our Proposed business model: * 35% Dine-in * 20% Take-away by customers * 25% External delivery service (such as Deliveroo, Just-eat, etc..) * 20% delivery by our own…
Insurance for Graphic Design
I’ve been asked for use of some of my drawings but also a possible illustration set and also got a few other queries for little pieces here and there so I’ve decided to set up as a business so I can take payment. however, can I get some information as to what insurances I’m going to need. I know I need Public Liability as…
Company house company filing late
A company has filed company statement later and previously accounts late. What action does company house take. What is the reason for a company to file late? Is it a warning sign? Thanks.
Charges for terminals
How can card terminal companies justify paying a monthly fee for a terminal that is sitting in a lockdown business of absolute no use to any one. The one we have is not fit for purpose even before lockdown but they were asking for huge cancellation fees. Now it is of absolute no use and I am still having to pay for the…
Business bank account with low foreign currency fees?
I'm starting a new business which requires me to make regular purchases in non UK sterling currency. As I understand it, I can't really use personal bank accounts and credit cards for the business as I need to open up specific ones intended for business. It seems to be relatively easy to find personal credit cards/bank…
Self employed
hi , just wondering how many people is in my situation, because I used my drawdown sipp to expand my business,so over fifty percent of my income not from self employed income which means I’m not entitled to any grants or able to apply for bounce back loan as I don’t meet gov criteria. Seems very unfair there is no help and…
Government Grant Claim for Self Employed
Congratulations to whoever set this up. My wife is self employed and hasn't worked since lockdown. Just gone through the registration and claim process this morning. Took about 10 minutes including logging in to Gov gateway and will receive her grant (exactly what we'd worked out) in her bank account in 6 days. Amazing!
do i need to fill in a tax return?
Hi hopefully Im in the correct category, years back i was self employed and started up my own online business selling clothing products , I stopped trading about 5 years ago as it was not making me any money, and i had loads of stock left over. I then just got a regular job as an employee. A friend of mine started their…
Exchange rate rip off?
I feel like my bank is ripping me off! I just received payment in Euros from a Dutch client and noticed the Sterling amount was a lot lower than I was expecting. I checked Euro/Sterling exchanges rates for the date in question being advertised by other organisations (Bank of England, Mastercard, etc.) and they all seemed…
Paypal limiting accounts with no valid reason or appeal process
We have been in business for around 16 years, selling vintage and retro clothing and accessories. Back in 2004, we launched the business online, selling through eBay and also via our own website. Over the years the business has gradually grown and in 2012 we opened a bricks and mortar shop in our hometown of Darwen,…
Finding an investor
Hi I'm looking at opening a business and looking for an investor is there a Web site for such a thing? Thanks
Client wishing to change date but not paying
Looking for some advice - I have a client who has ordered something bespoke and which is perishable unless carefully temperature stored. They have now asked to change the delivery date to next year. I have said that the order was for the item and delivery on a set date - to change the date we would need the full balance…
Lease renewal
Our landlord has sadly died from covid and within the next two months our 12 month lease is due for renewal. His will is not straight forward and I believe things will not be sorted at by the time we come to renew our lease. My question is who is responsible regarding the lease renewal e.g length costs and terms .( is this…
Should i apply for tax registration myself and how to do it?
Hi All, I started my own company in March 2019 and I haven't applied for tax registration yet, how should I do this and since my accountant is in lockdown I feel as I should do it now, please advise and thanks in advance
Gross or net?
I know this is really simple but I work part time and have a small craft business working from home. Not been going long and most of my profits wiped out by expenses. So, say I have taken £2800 in orders and have £1900 in set up costs , etc meaning I have only made a profit of £900. Do I have to declare this as the money…
Help please. self employment?
Please can I have some advice, please no negativity as I am feeling really anxious about everything at the moment and I just want to get things straight I bought my house, moved out into my boyfriends home, so I rent my house out. My bf is self employed and I started to help him with admin work, he started to pay me…
Corporate Investment (technical tax question)
Hi When a company makes a corporate investment into funds, the dividends received are free from corporation tax. However, what happens when the fund is an Accumulation unit where no distributions are made? Thanks
Business Expenses - Keeping a record of expensable monthly bills
Hello, I'm new to the self-employment world (recently registered as Sole Trader) and am currently trying to practice good habits in regards to bookkeeping from the get-go to avoid a meltdown come January. I'd like to know how I keep a record my monthly Website Hosting fee so I can expense it for my tax returns. 1-I'm…

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MSE News

Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.
Martin Lewis: How to call your bank by dialling just three numbers – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Martin Lewis: How to call your bank with just three digits – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Revealed: Holland & Barrett's supposedly cheaper 'Subscribe & Save' often costs more – it's promised a review after our investigation
Holland & Barrett's 'Subscribe & Save' scheme claims to offer regular shoppers "the best value" – but it failed to do so in the majority of cases MoneySavingExpert.com checked over a five month period. The retailer has now promised to review the scheme after our research found it was often more expensive.
Don't get your passport by post – 360,000 paid more than needed last year
If your passport is due for renewal, apply online if you can – it'll save you £12.50. More than 7 million Brits did just that last year – but over 360,000 missed out on savings by using a paper form instead, MoneySavingExpert.com can reveal.
Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Chase customer? Check if you can get its newly boosted 4.8% easy-access saver
If you've got a Chase account, check if you can boost your easy-access savings to 4.8% – made up of a 1.8% AER fixed six-month bonus plus its standard 3% variable rate. Chase says over 2 million customers can get the boost, which would top our normal savings tables if it were open to all, though it's beaten by the top easy-access cash ISAs.

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Small biz MoneySaving

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