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STARTING AN ONLINE AUCTION BUSINESS

itsnathanhere
Sampson Assafuah said:
I am looking at buying bulk mixed customer returns and reselling them on auction sites.
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OP are you asking about starting an auction site of your own or just selling on existing ones? You don't need the auctioneers licence either way, but as @Financial-Modeller said, you'd be better of selling to the existing ones and benefiting from all of the free traffic and exposure they receive.
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Finance Data as Special Category Data?

M
I’ve always thought financial records ought to constitute sensitive data, as they could be used to unfairly prejudice and individual, but as they are not listed they are just personal data and just processed under regular necessity etc.

Personally I wouldn’t class a waist size as medical data unless it’s purposely collected for health reasons. If you’re an online retailer for example, fulfilling an order for clothing that is xxxl for example, that’s not health relevant. If you were however selling diet pills or health related services, that would be different.

Context is king!
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Property and avoiding a tax bill

UK Contractor Accountant
TKay said:
We have retained a piece of land from our previous home (lived there over 3 years). We have been advised that if it is sold (as a building plot) we will not have to pay tax, as it was used as part of the garden for the time we were living there and only separated at the point of sale of the house.
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Varty v Lynes 1976 51 TC 419

https://library.croneri.co.uk/cch_uk/btc/51-tc-419
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SpongeBob Plan?

I'll add, I have no assets, I can't pay for insolvency, etc I have exhausted avenues looking for this,

Can I also ask, I have some clients who have pre-paid for work that I can complete, can I start working with them under a self-employed basis away from the company or would that be seen as trading still?

Just trying to hide details here of what I do as I don't want customers to know. But let's say I walked dogs.
I.e. people have paid for me to walk their dogs in advance in my limited company.

Could I call them and say my limited company has ceased trading but I am happy to continue working with you?

Sorry for all the questions
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BAD DEBT

Lisa Thomas
These letters are a con.


Unless:

1. You have bad debt insurance
2. You can prove fraud occurred
3. You have a personal guarantee for the Company debt
4. You have retention of title or other form of security
5. You paid over £100 on a personal credit or debit card and can claim the monies back from your Bank under S.75 of the Consumer Credits Act
6. Your debt relates to a deposit or advance payment that was kept i a separate client account held on trust...

Then I'm afraid the only chance you have of getting your money back is via an unsecured creditor dividend in the Liquidation.

Make sure you lodge a claim with the Liquidators.
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Brexit - has it affected your business??

M
simon field said:
Why? What if we just carry on?
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The carrying on bit is us leaving.
With no other decisions made we are leaving.

Now if the politicians were smart we'd leave with a deal of some sort or even cancel the process to avoid problems, with possibly leaving in the future at some point once adults have worked out the major issues to agreement of all.

If you want us to be part of the EU still then need to either make a decision to remain part of the EU or else cancel the process.
Not making a decision will not achieve that end.
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How cyber resilient really are businesses?

F
I'm not sure that the subject requires a doctorate to understand.

Cyber-readiness is determined by the level of priority attached to it by the decision-maker - very little in the case of most owner/managers until they experience a disruptive attack directly - and the budget that they allocate to it - which based on evidence here, may be simply to purchase AV software, etc.

But at least those helping with your research will be pleased that they might benefit from the outcome of it, by you offering something of tangible value to protect them from attack...

Aneesha Doal said:
No not a service. As a PhD is an academic work, I would be proposing a theory or a holistic framework for businesses on how they can enhance their cyber readiness.
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errm, no then!
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Which social media for B2B

M
Stedurham said:
Please stop and have a look at your website, im just saying looking at that, its nothing a dealer cant replicate for coppers. Show you best work a picture of 2 vws with blue covering windows? At that point I would close website and not come back even if I was looking for what you offer
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A dealer could replicate my set up for coppers! The kit for one of my standard set ups is over 5K and that's without extra's. Fair enough I'm happy to hear any comments on how I can improve the website but regarding the business side of it you've no idea how popular these evets can be and how much dealers will pay.
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Newbie accountant question

MyAccountantOnline
$aluki said:
Hello,

So I am really new to doing this and haven't even set my business up yet , planning on getting that done within the next few days. It will be a small "network" consisting of a parent company and several subsidiaries.

I have a few questions that are probably worthwhile asking , if any aren't then just let me know.

- Do you have to submit your accounts anywhere - if so , where?

- How do you need to format your accounts?

- If your businesses aren't making money or transferring it do you still need accounts?

Feel free to send me links or anything in response - it would all be greatly appreciated.
$aluki
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In general my advice is keep it simple. What makes you want to consider a company with subsidiaries?

To briefly answer your questions -

Do you have to submit your accounts anywhere - if so , where?

Depends if you are a sole trader or running your businesses through a company. If it's a sole trader no where, they are needed to complete your Self Assessment tax return. If it's a company to HM Revenue & Customs and Companies House

How do you need to format your accounts?

A sole trader - no statutory format. A company - yes.

If your businesses aren't making money or transferring it do you still need accounts?

Yes and bear in mind a company can be fined if it doesn't submit accounts to Companies House
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