Hi all

I’m new here and I’m hoping that I can get some good advice regarding a Director Loan account question.

We have £80K invested in our Limited company that buys and lets houses. We’ve sold a house and thought we could use the proceeds to partially recoup our investment before corporation tax. Our accountant says no, the company has to pay the corporation tax first before repaying our director loans. If the company owed ABC plumbers £1000, that would be settled before calculating profits. Why is it any different with the director loan account, if the wants their money that is owed?

Well done if you read this far. I hope I explained the situation clearly.

Thanks

Matt

Hi,
We use Bright Pay for payroll and do this ourselves. We pay staff weekly.

Looking for some advise?

We've had a person who's just started maternity leave. I've flagged them as such in Bright Pay and there first weekly payslip shows SMP pay at 90% of the earnings for the qualifying period. The software calculated the amounts automatically based on qualifying earnings.

However when doing the HMRC RTI submission I thought we would get some money back for paying SMP but can't see anything on the summary page that shows HRMC payments.

Should this get auto included on the RTI or is there a separate process to claim funds back, or do I not get anything back at the moment and have to claim it separately at end of year?

As above this is the first time I've done this so not sure what the normal process is for SMP.

Any advise greatly appreciated.

Young man about to start his own business.

I have a name for this business, and it's a really good name that leads to a double entendre.

I was going to trademark this name but can see a company that is in the same industry as me already uses two words of the same name.

For clarity I will give examples of the two names:

Already registered trademark - "Cherry Music Assembly"

The trademark I want to register - "The Extensive Music Assembly"

I don't know if this would be an issue at all and am looking for advice.

Many thanks

Are there any accountants out there who would be prepared to provide a statement (paid for of course) regarding unlawful shareholder dividends and how HMRC might handle the matter . It doesnt involve insolvency .

Hi,

At the start of October 2024 we were forced to migrate to Click & Drop Desktop from Print Assist.
I go through the process of creating an order, assigning the postage and printing the label.
It seems to print a few labels, then errors with "The document hasn’t been sent to your printer. Connection with the printer has failed."

I does this pretty much every time, prints two labels, then when you go to print another label for a new order, it errors and then a pdf of the label appears in the downloads folder.

I'm struggling to get any help with this and there seems to be little knowledge of this issue on any other internet forums.

Royal Mail say its a firewall / antimalware issue.

I followed the implementation guide, adding the required exceptions into the firewall.
The Click & Drop Desktop application is excluded from Windows Defender.

I really don't believe its something on the local network, as why would it print two labels from two different orders, then fail.
We run Zebra GK420d networked printers which are mapped from a Windows print server.
The workstations running the Click & Drop Desktop software, the printers and the print server all operate in different vLANS, but there is no network restrictions between the vLAN.

This configuration has run without issue for at least six years using Print Assist, but now with Click & Drop Desktop it is becoming a real problem.

Has anyone else seen this?

Hi, have a question regarding exports of goods that are first delivered to the UK. My company helps individuals based outside the UK to purchase online goods from UK retailers. Customers purchase goods and deliver them to our UK address (we are a parcel forwarding company). We then then ship the goods overseas to their address.

If the goods are purchased by the customer using their personal debit card, but the billing address in the invoice is in the name of our UK company, can I reclaim a VAT refund on the goods exported even though they were not purchased by my company?

Thanks
Ryan

Hello everyone, thank you for any help in advance.

I have a bin contract for monthly collection through a management company. The company was poor and had to chase for collection every month.
We are well out of contract and last year after them messing up yet again and billing us for weekly collections I cancelled the service.

I have confirmation that they had cancelled the contract. I requested their bin to be collected from our business.
However, they’ve continued to send biffs out to collect and even though we’ve not used the bin as a business other people/businesses/public etc have used the bin and I am being charged for it.
I’ve have told the driver many times I don’t want the bin but he can’t do anything. I’ve contacted biffa direct but they also refuse to remove the bin as I don’t have a contract with them.

I can’t stop people using the bin as it’s on an industrial site of numerous businesses and public use.
The management company say I now have to pay the outstanding bill of £500

Any advice would be grateful

Hi, Seems its a mind field of varying advise..
We have been appointed by a contractor to carry out works on a Signal mast in Belfast. We will need to travel by boat with a flatbed carrying our equipment and 2 employees.
This will take approx 6hrs and we will then return back to UK on evening sailing.
Do i need to go through the Freight Channels and various type of licences via TSS an NICTA. OR can i simple make a private booking but travel through the Red Lane (Oral Conduct)
and show the equipment and tools, we are carrying.
Any advice would be appreciated.

Hi
We imports goods to UK, store for few weeks and then export these to Asian countries. The goods are not sold or used in anyways in UK.
When we import we pay import duty and vat but don't get back these duties and VATs when we export the same goods.
Is there any customs procedure code that we can use during the import procedures so that we don't have to pay the import duty and vat.
Will highly appreciate anyone's response.
Regards
Junaid

Hi,

We recently took an order from a customer for a bespoke front door. Normally, we take a 40% deposit and then the remaining balance a couple of weeks prior to dispatch. However, the customer insisted on paying in full upfront. They have now changed their minds and want a refund.

Although we haven't started or purchased any materials yet, we have done a survey and the money has already been integrated into the general cash flow of the business. We can't afford to refund the entire amount at once.

Can anyone advise what we should/can legally do? It's not that we don't want to refund the money and resolve this issue, but we simply can't afford to do it all at once.

Thank you.

Hi everyone,

I am seeking your advice as an expecting pregnant contingent agency worker transitioning to permanent employee status.

My agency contract agreement is termed Permanent and Temporary Candidate Agreement, and it does not mention anything about continuous service.

I have worked continuously for a total length of service of 15 months for the end hirer, and have recently been offered a permanent position, however talks of transition to a permanent position has been in the pipelines for the past 9 months. The total time working in the role consistently performing similar duties demonstrates continuity of service.

The end hirer chooses not to recognise or count my agency work towards qualifying for enhanced maternity benefits, since they do not count agency work as continuous service in the same way, therefore an agency worker does not meet the eligibility criteria for these benefits and my continuous service is not recognised therefore I am not eligible for enhanced maternity pay.

There is no flexibility and/or discretion or individual application. I have been refused a reasonable adjustment. The end hirer can argue the scope of Reasonable Adjustments for Non-Employees lies with the agency.

I’ve not been given an individual assessment, or a health and safety risk assessment.

I argue my ability to meet qualifying period is solely due to pregnancy, not solely due to length of service and that the common denominator and the sole underlying reason for ineligibility to qualify for EMP is specifically due to the timing of my pregnancy, it is not due to my status as an agency worker or a permanent employee.

• If I were not currently pregnant, as a transitioned permanent employee, I would be able to meet the qualifying period, accrue continuous length of service, making me eligible for EMP. However, because I am currently pregnant, I’m unable to meet the required criteria.
• It’s provided that so long as the qualifying period applies equally to all employees, all newly pregnant employees (agency or not) would also be at an unfair disadvantage in meeting eligibility, however this reason is solely due to unmet required service requirements at the company, is solely due to zero length of service, and not because of whether they are pregnant or not. The company argues in meeting eligibility, this is solely because they have not met the required length of service at the company, regardless of whether they are pregnant or not.
• I have met the required length of service, it is just not recognised by the end hirer, alike to choosing not to recognise I am pregnant.

It’s provided that the current maternity pay policy doesn’t apply to me because I am not an employee, however as a permanent employee, this policy will apply to me. I have provided that even if the policy is not applicable to me, and intended for permanent employees only, the equality act applies to everyone.

The current application for the qualifying period places me at a disproportionate disadvantage due to pregnancy time sensitivity as I cannot delay maternity leave. The current practice fails to protect against discrimination for pregnant workers in the workplace.

Mandatory leave issue: my agreement states that I am not expected to follow any internal rules that relate solely to employees, however I was directed by the company to take 10 days consecutive mandatory leave as it applies to all employees, and no exceptions were provided. This leave reduced my income, and the company had no right. I believe I have been treated unfairly, been given unfavourable terms and have not been protected by discrimination as a protected characteristic under the Equality Act 2010.

My argument is not that I am entitled to enhanced maternity pay as an agency worker, my challenge is the current practices under the Equality Act 2010 fails to protect pregnant workers from discrimination, and it treats pregnant workers unfairly. The legitimate business purpose for such practices does not negate the disproportionate disadvantages. The company refuses to provide a reasonable adjustment to mitigate the disadvantages I face.

Does my case have any legal merit?
Do I have a case for discrimination under the equality act 2010?

Thank you for your attention to this matter.

Kind Regards,

Pregnant Agent

Morning All,

Firstly, thanks for the taking the time to read! Appreciate that there is a lot of advice on the forum and a lot of these topics go through cycles - but am just after some opinions / guidance on something.

I am currently employed in a relatively niche sector and have been for 20 years for various companies. Over the last 2-3 years I have been thinking more and more that with the experience I have I could build a better product that targets a specific problem within that sector - all the companies kind of solve it, but I think it can be done better. So I have spent some time just assessing whether or not to ultimately strike out on my own. BUT I am a little unsure about how best to structure things for myself as the reality is that I need to keep working whilst I build my own product, I am not sitting on savings and getting a business loan at this point would be based on my own credit rating which isn't great....so I am looking at massively scrimping / saving / bootstrapping the whole thing - which I am fine with. It is a software product, so I can benefit from things like Microsoft Founders Hub that offers some good support, particularly if I am registered as a Ltd company - lots of freebies to help get the ball rolling. And here is the problem. I need to continue working, I am entering the same market as my employer and have an unusual name which means if I register as a Ltd company the option of a 'stealth' startup really isn't open to me. My objection here is not about a public company register as such, I don't have an issue with HMRC knowing I own the company or that people can look up the company and find me --- it is more that I have kept a very low digital footprint for 20 years intentionally and then suddenly I will start appearing in Google searches under my name, very high up because of my low footprint.'

So I was thinking that I could kick things off just as a sole trader, operate as 'Me trading as Some Shiny Business Name' and allow myself to keep things under wraps which seems completely sensible. But then I realised that I may not be eligable to for some of the support (like Microsoft Founders Hub) so getting the business off the ground becomes more expensive. But the other things that 'worries' me about a sole trader is just how I handle building up money in the business and how professional I look. So would it be possible to confirm my understanding of the following:

1. When sending proof of purchase receipts for products I would need to include the full 'Me trading as Some Shiny Business Name' on those documents? I worry this doesn't look professional but when I search up I get a lot of stuff about displaying this information about invoices specifically but assume the same would apply to proof of purchase receipts? Or would it be sufficient to us 'Some Shiny Business Name' on what gets mailed out but on my website the fully qualified 'Me trading as Some Shiny Business Name' within the site details / footer / privacy policy / T&Cs?

2. I am a higher rate tax payer so my belief is that any profit that the business makes as a sole trader would be subjected to tax of 40% as it would just be treated as income. I have not object to paying taxes at all and am happy in my currently role paying the 40% -- I earn more, I should pay more. BUT, what I would want to do is try to build up a pot of money to make the business self sufficient and enough to cover at least 12 months of expenses before I quit my job. But this becomes much harder to do outside a limited company I think because where there if I made £10k profit I would be taxed at 19% corporation tax but could leave the remaining £8100 in the business, as a sole trader I would only be left with £6k because of the income tax. Is there any way, other than spending the money and trying to sensibly budget and plan, to allow me to build up finances to make things self sufficient?

I feel like I am a little stuck between making it public that I am undertaking this work from the outset and getting the benefits of a Ltd company, giving me a chance to grow it but risk losing my job. Or having to take a potentially much slower road to self sustaining the business by losing more of the money earned because it is viewed as income and potentially finding it harder to grow the business because of any prejudice against Sole Trader vs Ltd Company about looking professional (particularly in my sector).

*Appreciate people will argue that within my contract there will be some sort of non-compete clause. However, I would not be going after my companies clients directly (and certainly not whilst employed) but I have also sought legal advice and simply put I cannot be denied a living and as my experience and knowledge spans 20 years in this niche space it is reasonable that any employment I gain will be with a competitor (whether working for myself or others). Whilst the company can object, they will struggle to forcibly impose my right to work and earn a living.

Hi everyone, I'm considering amazon FBA. The plan is to start small and see where it goes. I'm completely new to online selling, but intrigued by the idea and I'm looking for a new challenge. I'm not interested in making millions, just want something to keep me busy, happy with £500-1000 a month even.

I'm unsure to which way I want to go, do I make my own brand or do I sell existing brands and buy them wholesale

Which website is best to compare the market and pick which products are best to sell? I've heard of Helium 10 and junglescout, which is better, is there any others to consider?

Is there anything I need to be vary of before starting?

Hello

I run a small e commerce business selling pre owned clothing online. Currently have a turnover of around 75k, sole trader and not VAT registered.

I was in India recently and came across a few wholesalers selling brand new branded clothing at very reasonable prices. I couldn’t believe it as I pay more from my wholesalers in the UK for second hand branded clothing than the cost of really nice top quality brand new clothing in India.

Unfortunately I can’t sell brand new branded clothing (specific brands like Lacoste, ralph lauren, Nike ect) without getting a license and going through the proper distribution channels, which on my budget and being a small sole trader business is very difficult to do. These brands tend to only deal with reputable ltd companies.

The entrepreneur in me had an idea, it might be a stupid one but I would like to get the opinion of some veterans in the business community before I go ahead and try.

I was thinking about cutting the tags off the clothes, not the labels inside, just the tags with the rrp price. These are all surplus items from factories, and I would sell them as used items online. The cost would be cheaper than what I pay in the UK and I can handpick each item individually, pick out in demand items as I know the market well. I don’t think I would face any issues with the brands as I’m already selling the same ones as used items.

I plan to take a trip to India every three months and pick out around 600kg of items for the beginning of each season, spring - summer - autumn - winter. If all goes well I could always start a LTD company get VAT registered and expand my operations.

As I have never imported before I’m a bit confused how it should be done and what the cost will be.

Do I need to use a shipping agent? On average how much would it cost to ship 600kg of clothing? As im a sole trader and not VAT registered, will I need to pay VAT. Do I need to pay import duty? How do they calculate the cost of all the taxes I need to pay. If these items don’t have the tag and are now classed as used, will the taxes be calculated using the value of what I paid for them or what they are worth once sold. Also, can I use the invoice I get from the Indian wholesalers to put in my self assessment tax return even though it will be in rupees, not pounds?

As I mentioned I have never imported before and it’s all a bit complicated. I know I can source the stock, I know I can sell the stock it’s just getting it to the UK that is a little bit confusing.

Thanks in advance to anyone who has taken the time to read this and a big thanks to anyone that can give advice, it’s much appreciated.

Hello,

A family member of mine in interested in selling a property and me and my sister and so we would like to buy it, do it up and then rent it out.

I don't want to lose my first time buyers status and by opening a LTD and buying the property through there I can avoid that.

I've still got more to read up on and I'm not that well versed with things pertaining to buisness, I'm a lot more engineering minded.

Cheers for any insight.

Two of us are launching an IT (SaaS) startup, and there is interest from friends and family to support the startup. We'll will work on a prototype over next 6 months and will try to fundraing.

Rather than taking loans and/or giving away shares to f&f (there are reasons why we cannot do that), we were thinking of advance selling lifetime membership for our service as a way of collecting money from f&f. Is that's a good approach? What other alternatives do we have?

I’ve just started a Ltd company, trying to move my hobby to a business. While it is building up, can I invoice a company I provide services for? It’s a jewellery repair company so will be polishing and repairing items.
Do I need to declare as self employed to do this? Or invoice from the Ltd company and wait for self assessment for tax implications???
All very new to this.

I have leased an industrial unit for my business from the local authority for 9 years - we’ve always been eligible for SBRR.
In 2021 we took on the additional lease of next door, as we were a growing business.

We continued to receive SBRR on both units and were billed by the LA £0 each year.

A couple of months ago, I was contacted by the LA and made aware that when 2 or more leases for the same business are undertaken, rates relief ends. I hadn’t spotted this when we took on the second unit, however, it also appears that the LA hadn’t spotted it either.

They have chosen to bill me for those lost years, backdating one unit to 2021, and one unit to 2023. This is now a considerable sum to be paid back, which they’re requesting to be paid by the end of play in April 25.

I sought some advice from the FSB at the time and was told the council are allowed to ‘make mistakes’ and were allowed to backdate as far as they wanted. I challenged the LA at the time and explained that it would be difficult to make these payments and we’d never have taken on the second unit had we known, however, it was met with a court summons. We agreed a payment plan.

Today I have been reading around the topic a bit more, as these monthly payments are increasingly difficult for a small business like mine. It appears that there has been some success with legal battles over back dated business rates, where the LA made the error.

I just wondered if anyone had any advice or experience of this. It appears a fairly niche issue and information online is limited.

Thanks in advance

Hi
I run a small business specializing in trading skincare products. In an effort to be different , I collaborated with a new startup formed by a team of professors from a well-known university in the UK. We embarked on a project to develop a new product, and over the course of two years, I invested more than £150,000 in the project Throughout this time, I received periodic progress reports, but when I received on of the report, I became suspicious about the actual progress made.

Being on the business side of things, I sought assistance from a technical expert, who confirmed my concerns: we were still in the early stages of the project despite two years passing and over 50% of the project budget being spent. I sought further advice from an industry expert, whose feedback was even more alarming. Not only was the project far behind schedule, but it became evident that the startup had misrepresented the milestones they claimed to have reached. They had issued invoices for work that had neither been completed nor was necessary at that stage of development.

When I confronted them with these findings, they attempted to obscure the issue with technical jargon, emphasizing the time and effort they had supposedly dedicated to the project. To my surprise, they even demanded an additional £50,000 in payment. Despite having an agreed-upon schedule, they failed to adhere to it. After several months of disputes, the company ultimately dissolved.

I am seeking advice on the best course of action moving forward. Any help would be greatly appreciated.

I’ve started a rental company and have two cars to rent and I’m trying to get Self Drive Hire Insurance for customers that want to rent but it is so hard to find and insurance company’s , if someone could point me in the right direction

We'v started our shop on shopee just on August, 2024. We just have 3 members. All newbies working on this area. We are going to sale kitchen electrical appliances at our store for Malaysian, so I'm not sure whether we'v chosen the right product type for Malaysian, do there have any nice people help me out this question?

I used to be a distributor for a company and one of their products is on my website which I've marked out of stock and stated clearly I no longer am their distributor and this item is no longer sold. The page generates a lot of traffic and it's very beneficial for SEO to redirect to other brands of products. I am not using any of their images or descriptions. I have taken my own photos and have my own images.

I am obviously using the name of their product in the title. Am I legally obliged to remove the page? Could I get into legal trouble if I don't?

I have never done a “Confirmation Statement” either physically or online. Online is through the page www.gov.uk


To make a declaration "Confirmation Statement" Is it necessary to use software or the software are only used for tracking and organizing your company data.


By programs I mean accounting programs. For example, Xero accounting, Ajaccts, Caseware UK, IRIS Software, or others.

Or, the “Confirmation Statement” can be made through the Confirmation Statement page without the use of software. Only with excel, the simple organization and accounting skills?

“Confirmation Statement” has to be done simultaneously with Companies House and in the case of Companies House is the use of software mandatory? Or how does this matter of using software programs work?


Thank you in advance for the answers from this great community.


I remain attentive and good day!

Hello,

I am a bit confused and would be grateful if you could help!

Regarding the VAT Flat Rate Scheme; on the Gov webpage, it says that;

''You can join the Flat Rate Scheme if you expect your VAT taxable turnover to be £150,000 or less''.

It also states that ''you must leave the scheme if your turnover in the last 12 months was more than £230,000 on the anniversary of joining''.

(1) if my turnover reaches £160 K after 11 months of joining the scheme, do I need to leave?

(2) if I don't reach £150k in the first 12 months, does this mean the leaving threshold is £230,000 afterwards?

For many, the above is clear, but not for me, sorry!

Many thanks in advance,

Adam