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Loan from family - expense or gift
Can a family loan at 0% interest, but with an £800 monthly payment be classed as a business expense? The loan has been paid back in full (the £800 paid per month has not been deducted from the amount paid back). e.g £50K loan £800 per month (£9600 over the year) 50K paid back
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Group back account?
Hi Me and a few family members have got together to pool a charity fund. We want to pay towards the fund via standing order throughout the year (£10 a week per person). We then send the money to UK registered charities when we feel there's a disaster, charitable cause we must help. Or if there is someone in the family who…
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Company over draft, how much and Credit card
Hello, Need some advice please, I have my own limited company and for the past year I have been working as a consultant to a small company who are about to close their company and they are allowing me to take over the clients they have and deal directly with them which will mean invoicing directly, their accounts dept.…
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start-up about to go bust - my options?
Hi, My business has ran out of investment at a critical time and I’m wondering if I can get a business loan, despite me only just trading and not making profit yet. I have a few hundred customers that have expressed interest in my service, but I’ve fallen short of cash at a critical time and can’t continue as it’s…
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I want to set up a C.I.C.
Hi, I received funding today to set up a CIC (community interest company) I need to register it with Company’s House but I am getting stuck with the questions and I’m unable to find the answers! Is anybody to kind enough to help? I.e. I don’t want to profit from the business, I just want to be paid minimum wage (where…
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Making Tax Digital
I'm given to understand that MTD becomes compulsory by April 2019 - can anyone confirm that? Isn't there a cutoff for small business? Many VAT registered companies are still too small for accounting software and many who have moved to accounting software do not want to be dictated to by software suppliers to upgrade (and…
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Urgently Seeking EPOS System for Clothing Shop
I am seeking a simple, inexpensive, reliable EPOS system for a small clothing retail shop and would like to purchase the product outright and not rent it. Some of the desired capabilities/features include: Stock and Inventory Management Barcode creation and reading Sales tracking and reporting Remote access Anyone know of…
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Business CCJ
Earlier this year a company went in to liquidation and stung me for £10,000.00. Being a small company this has had an adverse effect on one of my businesses. One of my suppliers (Enterprise), started a CCJ claim against my company VFSL on 31/07/2019 for the amount of £7,227.10. The amount was for stock used on the job that…
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Staffing Agency
I live in Essex area near Southend. I started a staffing agency business (nursing). I have everything up and ready to start supplying. I have staff ready to work but having a nightmare getting contracts. I call and am told to send emails which I never get replys. I have sent flyers. I could call and get given email…
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Starting up a business. What do I need
Hello! I hope this is the right section to post in! I realize this is a fairly broad question but any help or pointers in where to get the relevant information would be great. So we’ve just bought a 1982 sprite alpine caravan. I’m planning on doing it up to make it a cute vintage style caravan that we can use for weekends…
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Voluntary VAT registration
Hi Guys, I wonder if anyone would be able to give me some advise? I am a small start-up company, we are creating doggy jumpers. We are having our wool imported from Peru and are subject to VAT (Peru has a free trading agreement with the EU so no need to pay duty TAX). As we will be importing quite a lot of yarn the costs…
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Micro-entity filing online accounts - where to declare dividends?
Hopefully a simple question... I'm filing my limited company's online accounts for 2018, but I just can't see where to enter the dividends paid. Are they simply to be included in the "Other charges" (AC425) field on the P&L form? Thanks!
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Best way to do my accounts
Good afternoon all, I'm sorry if this is an easy question to answer, I've only been self employed as a sole trader just under a year and I'm still getting used to this way of working. I have two key areas of work, wedding photography, and nightlife photography, I have two separate names for them both however is it okay to…
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Sole trader - move revenue and costs to lowest earner?
Hi there, I have a website which is earning some reasonable revenue. I am currently running all the costs and revenues through my bank account and I pay tax on the profit via PAYE. I am earning £70k in my job. My wife is earning £24k in her job. The website is making £20k profit per year. It looks like moving the website's…
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Obtaining a bar for a charity event
Hi, I am planning a charity event, and I would like to have a bar available for people to buy drinks. After obtaining the relevant licence from the local council, we could run our own bar, but I was wondering about the possibility of bringing in an external bar? Is this possible? As it is a charity event, I would prefer…
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"Anonymous" donations.
Can anyone advise on how to give a one-off donation to a charity where they can receive the Gift Aid tax relief but I don't have to give too many personal details? I have made on-line donations before but, despite being told that charities do not share details, I have always been inundated afterwards with requests for…
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starting as a sole trader
I would like to start a small business selling and buying clothing and footwear online. I would like to register as a sole trader so that I can pay taxes on any profits I make. Over the last 3 years I have been buying clothing and footwear items which I would now like to sell. My question is how do I account for these…
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New to business - looking for Fair shows
Hello I am looking for suggestions. i am new to the business world. I am thinking about starting a small business, like a food van/truck/stall. i wanted to know if there were any popular Small Business Fair or shows, where someone could go get advice, ideas... i live close to London. i have done some basic online research,…
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Micro-Entity Corporation Tax Help!
Hi Guys, Let's see if the fine people of MSE can help with this one (I've already recommended she gets an accountant next time and considers re-registering as a sole trader, rather than a Ltd company). A friend of mine has asked for some help, she runs a small photography business and has a Corporation Tax Return due by…
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Gift Aid
We Gift Aid our charity donations. For Tax Year 2019-20 we won't be paying income tax on salaries but will be paying tax on dividends. Are we still able to Gift Aid our donations.?