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Business Rates / Council Tax
I bought a property in Edinburgh in Sept 2022 for Short Term Let use (Air BnB etc). I’ve been paying council tax at the property since this date but have since learnt that other business owners in the complex pay business rates (with small business relief) so have since requested to switch to this. Once this is approved…
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Virtual / P.O. Box address for new business
Hi, I’m starting my own company but I don’t want the address of the business to be my home address. I’m assuming the best option is for a virtual address that you can pay for? Is it basically a mail forwarding address and therefore does it take twice as long for mail to arrive? Can anyone recommend a reputable company and…
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Unexpected debt
Hi, first time posting in Small Biz, thanks for reading. I started work for a company that had a mail order department as well as a bricks and mortar shop, the mail order department would take payments for health tests from customers then have the tests conducted through a third party lab. In 2022 the owner split the…
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Software - making tax digital
I need software to facilitate a vat return, very few monthly transactions, less than 10, maybe less than 5. Can anyone recommend something free or really cheap. I was just going to do an excel spreadsheet but need to be able to submit it, so need software.
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Booked a stall, got cancelled, refusing refund.
Hi, I had no idea where to put this but I'm hoping someone can help me figure out where I stand. I booked and paid in full to have a craft stall at a local event, it's a large event usually over 5k visitors. The event was cancelled due to the recent storm. The event organisers have refused to refund the stall holders. The…
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New NI limits/ allowance
I know I’ll be able to use the Employment allowance to mitigate NI come April - I have one employee earning £6960, so well within the new £10k allowance. My query is whether I have to pay the NI then claim it back or whether the hmrc basic paye tool does the calculation monthly so there will be nothing to pay from the…
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Being billed by a small business & not sure what I'm being asked
Hi, I do apologise if this isn't the right place for this question, but I'm not sure exactly wha the situation falls under......basically, I'm starting with a coach this year and we agreed a rate per hour. They've just said that, as they're VAT registered, they want to find a way round so that I don't pay more than we…
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Closing Limited company down with a bounce back loan?
Hello Is it possible to close a limited company down with an outstanding bounce back loan of approx. £7000. If so are there any repercussions on the director personally? Many thanks
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moving a business
If you have had a business for sale and decide to opt out and start a new lease at another premises doing the same business will that void any deal done with a broker??
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Sole trader, earned extra 10k, who should I see for advice?
Hello all. I've been lucky enough to earn almost 10k last year as a sole trader in addition to my full time role where I am a basic rate tax payer. Please can I ask who should I speak to for some advice regarding mitigating the tax that I will have to pay?
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Sole Trader and Higher Rate Tax Payer
Hi. My 16 Yr old son is very entrepreneurial which I want encourage. He's keen to set up a business drop shipping. As he is under 18 I believe this will have to be in my name and I want to make sure we do everything right. I understand that I will have to register as a sole trader with HMRC if revenue exceeds £1,000.…
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Wix website price hike
I am a retired nurse who makes jam for a hobby. I was persuaded by friends to sell it and now have a very small successful business. I sell to local shops and cafes and via an honesty stall. I also have a website as I was contacted by tourists asking if they could buy more after they’ve gone home. I have 10-20 online…
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Company shares and separation
I am director of a small limited company. Just me as owning all shares except wife who just draws enough in dividends to use her tax free allowance. Currently £500 per year. She is wanting to separate. I am the only other shareholder. Nothing in the way of assets other than computer equipment needed for the job. My…
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Commercial Lease - Removal of goods
I've taken on a new lease for my business and the previous tenants have left a fridge sized server cupboard which is wired in. It's about 1m x 1m. It's very ugly and I'd like it gone. I could possibly sort it myself but I'm wondering if the it's the landlords responsibility? I've sent a message and awaiting their reply.
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Has business asset disposal relief (BADR)been scrapped from april 25
After 22 years and working to 75 I am retiring and plan to liquidate my solvent Limited Company. I had assumed that the mainly cash assets would attract 10% corporation tax as my wife and I would have been eligible for the entrepreneurs relief. But now I am hearing that will no longer be the case due to the last budget.…
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Limited company and deceased sole director
Hi After spending almost 12 months going around in circle I need some advice please? Last xmas my dad unexpectedly passed away. He was a sole director of a small limited business with an apparent friend being a 20% shareholder. Dad was not married, nor held a will. The business was closed was immediate effect and all…
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How to enforce a charging order on shares
I have a charging order against the shares of a limited company held by its director. And, as a consequence I should be entitled to be paid the dividends which correspondent to these shares. I do not what are the dividends and when they are paid and how to be paid them. In the balance sheet of this company filed in the…
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Royal Mail Stamp Swap Out over £200 : any advice from experience please
We are currently preparing - with some trepidation - an application for the Royal Mail Stamp Swap Out over £200 (new application form and T&Cs from Sept. 2024 / sending by Special Delivery Guaranteed) We are following the instructions therein to the letter - at every step. There is a considerable sum of stamps involved.…
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Google Ads - Be Warned
If you are a new business and take the advertised spend £400, get £400 free Google credit, be warned! I recently invested in Google ads because of the promotion, under the impression that I would spend £400, and get £400 back. After much chasing, they informed me that a promo code needs to be applied when you first open an…
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Tax return question from property income
Hello, I have rental income that I started to receive from the 07/01/2024; so when filling my self- assessment, am I just putting income from 07/01/2024 until the 05/04//2024 for the rental income received? It also asks about how much I earned from main employment, again, is this just for the same period as above or would…
