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Small Business - Corp Tax question
Hi - my accountant is telling me one thing and another accountancy friend is telling me another.. I'm trying to unpick the advice and find out if my accountant needs a lesson (and whether I need to possibly change accountants!). Small business made £50k profit last year (Jan 31st 2020 year end). I understand that if I…
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Image using on website
Hello all, I'm not sure of the correct category in which to post this, so I hope I've selected an appropriate one. My borther-in-law is a small business owner in lawn care, specialising in sports turf management and I am designing his website. Over the years he has worked on the European Tour, etc. and has worked with…
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Companies house can't file accounts via webfiling
Hi, About to go into penalty period i.e accounts overdue and I'm unable to file accounts via webfiling I've left 5 messages via customer complaints no replies since 1st message left 1 week ago + currently phone lines are closed Error messages keep logging me out then it's an issue with cookies I've obtained error…
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Best Company Type to Go For in Buying House Overseas - Advice Please!!
Hi Guys, My Dad, Brother and I are talking of collectively buying a small property in Bulgaria to run as a retreat space, offering tailored getaways centred around a few days of rural living, open fires, traditional food, enjoying the beautiful mountains and less 'rat race' pace of life (yoga, photography, cycling, hiking…
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Can I change days of work for employee?
I have a small retail business that now employs one member of staff who has been on Furlough. She has worked for me for 24 years and was initially part-time including Saturdays. There has never been a contract of employment (I know there should have been but it was initially ... informal - as a lot of things were a quarter…
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Business debit or credit card with cashback
Any recommendations for a debit or credit card for a limited company that offers cashback? I've been using a Paypal business debit Mastercard which gives 0.5% back but doesn't let you use it on eBay or paying Paypal invoices from other businesses. I've had some marketing through the post from Capital On Tap offering 1%…
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Filing my own corporation tax return / accounts
Hello, I would love a bit of advice here. Context: I opened a very small limited company a year ago to provide a structure in which I create bespoke items for individual customers. I am the sole member of the company. The company has not seen any customers during its first year and all financial activity consists of…
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Crazy high charge from TNT/Fed-ex month after delivery
I set up a new business last year and have been ordering shirts from Turkey. Usual cost is around £3K, and I get a £30 customs bill from TNT (on top of shipping fee) This time I bought around £4K worth of stock, and my TNT bill has come to around £1800! That is almost 50%. Some of it is claiming to be VAT bill but I paid…
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Small Business loan/backstop loan desperate advice needed
We would be grateful for any advice given please. My husband owns a 50% share of a property worth £400,000 which has no mortgage on it, together with a field worth £150,000. Although he is rich in property, we have no actual funds and scrape by each month. He has registered a business and looking to start up his own small…
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Directory enquiries company has my personal address listed against my limited company
Not entirely sure which section to post this in so apologies if its wrong but will try here first. A directory enquiries company phoned my business and asked if they could update the info they have for my company. She then proceeded to read out my personal home address which shocked me as we have been a limited company for…
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Top Small Biz Savings Accounts
This thread is specifically to discuss the Small Business Savings Accounts section of the Small Business MoneySaving guide. If you want to discuss this section, or suggest any new accounts for consideration, please click reply.
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Taxes on hobby business
Over lockdown, I have rediscovered my love for art and have began doing commissions and prints. It's been better than I anticipated, and I'm now booked up for quite a few weeks, which lead me to think about when to start paying taxes on this. I have read that an annual trading allowance of £1000 is allowed, and this does…
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How to ship goods from China to UK Home
Hello All, I need some assistance and hope that you may be able to help me. I am planning on setting up a small online business but can not find any basic information on the following: 1. The manufacturer has provided costs FOB so they will deliver to the port and then require the shipping company to transport these to the…
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Home Office Rent
Hi, I run a design studio via a limited company structure. Earlier in the year, I rented three desks at circa £380/desk + VAT in central London. I now work from a home garden office. Given that I was paying £1,140 for my office space earlier, what is to stop me paying this as an expense to myself in future, given I have…
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Ltd company advice
Hello everyone, Hope your all well? I registered a limited company while living in London 3 months ago, haven't traded yet & its an online company. I've now moved back to Scotland to be closer to family am I right in saying my registered office must be in England/Wales and can be a virtual office provided by the liked of…
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Do I need to register as a company if all profits go to charity?
Hi all, Apologies if this is daft question, I recently made a load of facemasks for people who wanted them and ended up raising over £1400 for charity. However in order to keep the ball rolling I've now put together a website in order to make the process easier with online shopping, payment etc. All profits are still going…
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Backdated Business Insurance?
I have outstanding invoices from a client and it's highlighted that I don't have insurance for consulting work I run through my company. Are there any known insurers that can cover backdated, with potential disputes outstanding? Policybee are getting back to me in a couple of days, but I want to speak to as many as…
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Cancelling an invoice from a previous financial year
I'm registered self employed and arranged to do some work for a small charity back in March. They were keen that I invoice them immediately so the invoice would fall in 2019-20. Now they don't want to do the work and I am happy to cancel the invoice but I have included it in my Self Assessment tax calculations for the…
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Car Lease after finishing with my Ltd Company
Hi I am waiting for a straight answer from my accountant and just wanted to see if anyone has a view. I worked through my own limited company for 12 years, I took out a new lease car agreement in my company name in April last year, but decided to give up contracting and secured a permanent role in September last year. to…
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Valuation Authority office - Challenge your valuation
I am filling the form of Valuation Authority office for Challenge your valuation. There is following question Smaller proposer? Yes or No What does it mean. I have small business and no employee. Should I select Yes or No?
