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Can I have Direct debit with HMRC
I am now getting tired with HMRC requesting all different amounts at the different frequency periods. Some time they want PAYE tax paid monthly, then don't want it for a good few months. Then they would come up with a figure which has to be paid within very short period (I am still to figure out how long is that period). I…
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Set an LLC to save on liability insurance as sole trader?
Hi all, What started as a side business has now become a bit more than just a side business. I make roughly £1k of revenue every month from managing a few properties for some friends, I get the gas safety certificate and do things by the book. I recently took on a construction contract for £3k and supervise a builder that…
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Accounting Software? - Construction CIS? VAT?
What's the latest recommendations for accounting software? Small Ltd surveying and maintenance Project management company ie. Myself I used quickbooks in my last company or rather they did but as a start up I want something cheap to produce quotes and basic invoicing with VAT There will be no direct employees just labour…
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Separate bank account
I opened a bank account for my child’s football team- opened as a community account and solely used to hold fundraising money (from bag packs etc). The account is in the name of my child’s football team. We’ve had this a couple of years now with no problems. Just been told by the football club that this is no longer…
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To be Sole Trader
Hello All, Newbie here, apologies in advance if I don't follow the rules. I want to sell products on ebay and Amazon. I am still thinking what products to sell. As per my research, I need to have sole trader account. My question is: I am not 100% sure if I am indeed going to sell but I would like to ask if for now I set up…
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Shorten company year for IR35?
Hi, I wonder if I should (or can) have a short year to line up my current ltd co year, 1/10-30/9 to the tax year 1/4-31/3. This would be 1/10/18 to 31/3/19 so can I still do that? My reason is that I have had a contract which I think would fall under IR35. I'm not going to argue that. I'm just going to pay myself and pay…
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Business Loan
Hi there. I'm a new start up and i'm looking to get financed to start up my business. What are the best options in terms of finding a good loan that i'm not going to have my pants pulled down. I looked at the government Start up loan idea, but the reviews are horrendous. Any guidance will be good.
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New business - registration.
My husband and I are buying a small inn. We have been advised to run this (profit c50k) as a partnership. I have worked as a sole trader, and a limited company, but a partnership is new to me. Do we need a partnership agreement, or does being married negate that? I am registered for self assessment - he is not yet. Do we…
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Claim paid tax back for charity contribution
Hi All, I earn a bit over 50k so pay 40% tax on any income above 45k. I made a cash donation to a charity for £1k about 6 months ago. Some one I know recently mentioned that I could claim back 40% of that money as it should not be taxed if it goes to charity. I dont fully understand the way tax and VAT work for charity…
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Side hustle
Hi, I currently have a full time job and in the 40% bracket. I'm setting up a website with an online shop as a side hustle as a bit of a fun challenge and to learn. I will be buying my product from a sole UK supplier and running the business from my garage part time. I do not expect this to make me a millionaire but I do…
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In forfeit of commercial lease
I wonder if anyone out there can help. I am at the end of my tether and have been sent from pillar to post with free advice lines. My limited company business (coffee shop) has failed and I am no longer trading (and no longer paying rent) and I am in forfeit of my lease, but the landlord (the local council) is refusing to…
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Kids football team banking funds
Hi all, I help out with fundraising for a kids football team. I run raffles and competitions etc As it stands everything goes through my account and I know I'm running the risk of getting my account shut down. Can anyone please advise what sort of account I need, which bank etc. I need one that doesn't have fees or credit…
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Ltd Company V Sole Trader
Hi, My sister currently runs a business doing inventories for rental properties and I do some basic book keeping for her. I am also self employed as a sole trader in another line of work. Neither of us really understands the implications of being a Ltd company, it was something my sister was advised to do when she started…
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Sage Payroll & NEST
Does anyone use Sage Payroll and Nest? I'm trying to set up the first payroll run for DH's first employee but am coming unstuck. Did online chat with Nest earlier today but they've confused me by saying that the pay date on Sage has to be 5th of each month? Employee's first pay day is supposed to be this Friday (25th).…
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National phone number and taking payments
I have two queries regarding my small business. 1. I need a 0800 or 0345 etc number to direct to a mobile, can anyone recommend a cheap way to do this? 2. I need to take card payments over the phone, again any recommendations for a cheap provider? Thanks very much
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Half of adults think banks should monitor data to spot financial problems - MSE News
Half of UK adults say their bank or building society should use their financial data to identify potential problems, according to a new report...Read the full story: 'Half of adults think banks should monitor data to spot financial problems' Click reply below to discuss. If you haven’t already, join the forum to reply.
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Dealing with exploitative landlords
MrsCake1982: mrscake1982■ : 2 minutes ago So I started my own street food business almost a year ago and at the time I was over the moon to be able to find a commercial kitchen unit to hire. Unfortunately that joy soon turned to a nightmare. Without going into too much detail the two who lease the kitchens are preying on…
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Sole Trader question
Hi, sadly my father in law has been suffering with a terminal illness. He has a couple of months at the most. I am desperately trying to help my mum in law prepare as much as possible. My father in law was a sole trader he closed his business officially last October. The only thing that remains is a business bank account…
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Commercial rental and bankrupt landlord?
Hi, this hasn't happened, but I'm concerned it could, and want to understand the risk exposure. As a small business, we rent some office space. There was a "service retainer" charge (basically a deposit). As this isn't a private rental the normal restrictions about holding it in escrow don't seem to apply. So that money is…
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Use of Superyacht for Charity - Anyone heard of this?
Hi all, I am launching a charity event in a month's time, yesterday I was contacted by a Jay Patel of White Star Charter who offered a free 3 day use of one of his superyachts in Mallorca as a prize for our raffle that we are having. I suspected that there must be a catch.... I found, not a catch as such, but the winner…
