-
Self employed: claiming for rent, rates, power and insurance
Hi all, I've been self-employed since 2007 and had an accountant for the first few years. I've been going through the old tax returns he did for me and noticed that he tended to put down £156 for my rent and rates. However on the last tax return he did for me he put down £704! Does anyone know if there's an easy way to…
-
New venture - sole trader novice
Hello. I'm looking for some advice. I am looking to become a self employed sole trader with a website. I am a complete novice as I have always been employed. I'm looking for a step by step guide at what to do. I have been researching and there is too much information so I'm getting in a muddle argh. I have no idea how to…
-
Business Investment Idea
Hi, I set up a Limited company 6 months ago and have built up some funds that I would like to purchase some assets for the company. My idea was to use the funds to buy shares in some FTSE100 companies, I have zero experience of doing such thing before within a limited company. I have done share trading personally. Am I…
-
Late filing penalty
Hi I've just finished my first year operating as a limited company. My accountant has been charged with filing my accounts to companies house. There is a dispute between both of them as I've been hit with a £150 fine for late payment. I spoke with accountant and he said it was filled well in advance of the time limit. He…
-
Offering Finance / staged payments
My son is a sole trader doing bespoke welding and fabrication - mainly for drift cars and rally cars - roll-cages and exhausts etc. He has been asked again and again by customers if they can pay a deposit and then pay for the work in installments. Problem: is this a credit agreement regulated by the consumer credit act? We…
-
Postage help
I sell through an ecommerce website and post with royal mail 1st and 2nd class standard. Recently I've had shed loads of parcels suddenly start to disappear and not turn up. Some have been extremely delayed too so 1st class parcel only got delivered 2 weeks later and other parcels just completely disappeared. Its become…
-
Consultants & VAT - CONFUSED
My husband and I have a limited company - however we both offer different types of consultancy work. We are both directors of the limited company. We are VAT registered. I am also a non employed Director of a community interest company - also registered for VAT. The CIC has 4 directors and no employees. It is understood…
-
VAT and Community Interest Companies
Hi and thank you for reading.... If a community interest company that is VAT registered receives a 'donation' with no restrictions - do we have to pay the 20% VAT over to HMRC as if the donation was income? Thank you Julia
-
Off payroll treatment of self-employed services
I run a very small sole trader "business" teaching running for beginners and improvers. I provide services to two councils to teach groups as well as to individuals/my own groups. One of the councils has moved me to their payroll (as apparently they have for all service providers) for tax purposes as I'm considered an off…
-
Advertising agency owes me money for a piece of work but has stopped responding to emails
Hello, I created a peice of work for one of the big banks but was commissioned by a large advertising agency. The payment is now 3 weeks overdue, when it was first overdue the emails with my contact in the company copied in people apparently from accounts and apologised for the delay. This happened three times and no one…
-
VAT on fuel for rental van & VAT on dual use vehicle
Hi all! This is probably a commonly asked question, but for the life of me I can't a straight answer anywhere! I have a VAT registered business. I often rent a van from a usual vehicle rental place. I use the vehicle purely for business, usually for only 2 or 3 days. Am I able to claim VAT back for the fuel I use in that…
-
Exclusive Rights in UK & Ireland
Hi What does this mean exactly or where can I find out more information. We wanted to start a business and can source the product we need but have found a company that offers something similar who state on their website they have 'exclusive rights in the UK and Ireland' I am guessing it's a no go then?
-
Best business currency card?
Hi, I fly to other countries a fair bit (mainly Europe and the USA) and I've been using the Travelex Multicurrency Cash Card. The problem is with their website and how I can't use it for my accounting easily - it doesn't show starting balances, it only allows export to a PDF (not a .CSV or Excel) and it doesn't display…
-
Self employed or partnership
Hi my partner is about to go self employed. He will be doing property maintenance jobs with his step dad. His step dad will be paying for near enough everything they need to start up. My question is does my partner need to register as a sole trader or do they need to register as a partnership? I think I know the answer but…
-
Shredder for Home Office
Can anyone recommend a reliable shredder, please? My third one in three years has just wheezed and died, no power and yes I have checked the plug, fuse etc and it didn't overheat. I'm self employed, and probably shred 40-60 pages of A4 per week. The latest one was a Fellowes, replacing a previous one that gave up and had…
-
Self employed receipts
Hi I'm self employed and have expenses receipts, do I need the itemised receipt or is the card receipt sufficient for HMRC purposes? I sometimes only get given the card receipt so no breakdown.
-
Advice on shop next door and copyright
My friend has a barbers shop. Hes been trading successfully for over a year and doing well. Immediately Next door was a takeaway I presume they have seen how busy my friends shop is and have decided to convert their takeaway into a barbers shop. Now if you was to walk and look between the two you would say they are…
-
Secure Website
Hi all Looks like I'm going to need an SSL certificate for my website so it shows as secure. I have a contact form which only gathers the briefest of information - I do my real information gathering via a secure website. My webmaster has quoted me £50 a month which is 10x more than I expected to pay. Can someone point me…
-
Switching from Yorkshire Bank to Clydesdale
anyone know if its possible coming to the end of our 25 months free business banking and want to keep it free there are a few options, but the best one is Clydesdale which is part of the same group and i wonder if they'll accept the switch. if not will got to HSBC or Lloyds who both offer 18 months free - but can't fault…
-
Using a brand name.
I have had an idea to produce a few items (t-shirts, belts, hats etc) using the name of an existing company. The company I have in mind manufacture motorcycles. They currently have no consumable merchandise, for fans/owners or things that could potentially expand their exposure. Just equipment to use on their bikes. I have…
