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Useful guides from MoneySavingExpert.com Do I need a business bank account?Coronavirus Self-Employed & Small Limited Company Help
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How do businesses usually handle refunds when lots of customers cancel?
I help with some admin for a small online subscription service and occasionally we need to return money when customers cancel within the refund window. One thing I’ve noticed is that sending the refund back the same way the customer originally paid can sometimes take several days to show up, which can be frustrating from…
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Reconciling Pay-by-Bank payments — spreadsheet limits?
Following on from my earlier question about refunds going directly to bank accounts, I’ve been wondering how people handle the reconciliation side when payments come through that way. In our case we see a few hundred transactions a week and the usual spreadsheet approach is starting to get a bit unwieldy, especially when…
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Sole Trader Setting Up - Help!
Hi everyone 👋 I'm currently in the process of setting up as a sole trader alongside my part-time job, but I really am completely clueless on how to run a business and wondered if anyone could help. Sorry in advance for the long post. I'll be offering consultancy, so selling services rather than goods. Future-proofing, if…
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Why are some businesses encouraging “Pay by Bank” instead of cards?
Hi all, I’ve started noticing that some businesses now give the option to “pay by bank” (direct bank payment) alongside cards, and a few seem to subtly encourage it. I’m just curious about the reasoning behind it. Is it mainly because card payments cost businesses more in fees, and if so how big is the difference in…
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Are refunds via bank transfer safer than card reversals in terms of fraud or chargebacks?
I’ve been noticing more websites offering a “pay by bank” option instead of paying with a card. It got me wondering what happens if you later need a refund. With card payments the money usually just goes back to the card, but how does it work if the original payment was a direct bank payment? Does the refund just get sent…
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Capital on Tap - any experiences?
Can anyone share any experiences with Capital on Tap? On the face of it, the products look fairly decent: Cashback on daily spending (already have a Business Amex so would use theirs when Amex wasn't accepted) Upto 3.82% on business savings (company doesn't have loads but enough to make it worthwhile, but still keep it…
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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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Are bank transfer refunds cheaper than card refunds for businesses?
I work around financial systems and payment data, so I often end up looking at how different transactions show up once they hit the bank. Something I’ve been wondering about is refunds where the original payment wasn’t made by card. For businesses using Pay-by-Bank or direct bank transfers, have people noticed any…
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MTD - Soletrader - Stress
I am a non vat registered sole trader selling online mostly on ebay and by website - all my sales go through a Starling business account . I usually fill in a spreadsheet with all my sales / expenses and at the end of the year pass it on to my accountant who looks over all the files and submits them for me . Come April I…
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Does my business have a value can it be sold??
Hi. I'm self employed and deal in building maintenance, renovations & repairs. On larger projects I get specialists in that I trust and overseas as well as work. Over the years I have built up a good client list based on trust, good work and word of mouth. I have never advertised. I belive if you do a good job, priced…
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Voluntary National Insurance for Self Employed Low Earner. Handholding needed please!
Hi all I'm sorry to have to come and ask for help, but my eyes go fuzzy and my brain clouds over when it comes to stuff like this! I've been self-employed since Sept 2025. I'm well under the threshold to pay through self assessment (I think! - I've earned under £2,000) so as I understand it I can pay voluntarily. If that…
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Rijo Coffee Machine; Ending Contract with CF Corporate Finance
I took out a contract with Rijo for a Brasil Coffee Machine, as a new business starting out I was nervous of signing a contract but advised it would all work out but not to worry if it didnt, support would be in place! I obviously decided to take the monthly payment options as could not afford the £8k they advised it would…
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How to receive payment as self-employed Tutor?
After being made redundant from a small school that is closing, I am starting up as an individual tutor. I was anxious about giving out my main current account details to clients for payment, so rang Nationwide to ask about setting up a second current account only to be told that they don't allow business through current…
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Self employment in addition to full time contract
Good morning! I work full time employed for a company on £47,800 PA. This is variable due to sometimes having overtime. My basic pay is generally around £3,200 after tax/pension etc but can go up to £4,000 with overtime. Like I say this varies. I am about to take on a side hustle on days off. This will earn around £300-500…
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Accountant and accounting software
I've been a sole trader for 5 years or so using a chartered accountant for advice and preparing and filing my tax return. This requres me to download, copy and paste my business accounts each month from my online banking into an excel spreadsheet then allocating each incoming and outgoing amount into its appropriate…
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Small business account & account filing software
I have 2 very small Ltd businesses, one I have a free business account with Mettle which gives me free access to use FreeAgent to file my accounts & tax. It’s simple, efficient, linked & free. I'm very happy with it. My 2nd business is currently dormant, I file my dormant accounts through the government website however all…
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Looking to set up a separate business whilst in employment
I am currently semi-retired and working for a company 3 days per week. However, I am looking to run a holiday let but as a business rather than adding it as income to my current tax. Is this possible? Where do I start?
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tax return and pension
I am self-employed, and make in the low 20k a year. I have a couple of questions about the new quarterly digital tax returns. Firstly, I currently complete a very basic tax return in that I say my outgoings are 1k a year, so I don't itemise them. Will I be able to continue to do this? I don't issue invoices, as I get paid…
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Self Employed Sickness Insurance Cover
Hi all, So recently my dad had a bout of prostate cancer which thankfully he’s recovering from but after complications with his operation, he couldn’t work for around 3 months. Luckily for my dad he’s in full recovery but also he was super lucky that his employer (a huge supermarket brand) gave him full sick pay for his…
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Energy broker disputes
Buisness Reduction Services ( NW) I am seeking help and wondering if anyone has experienced or resolved a dispute with Buisness Reduction Services ( NW) and PreAction resolution reached, acting on their behalf . At 0717 I had a cold call from a private number . I had just recieved keys to begin work setting up my first…
