Recent content by Adauxi

  1. Adauxi

    Bookkeeper needed in Marlow, Bucks

    Ok thanks Jon
  2. Adauxi

    Bookkeeper needed in Marlow, Bucks

    Hi Jon The business need is for someone who can come onsite, due to a combination of hard copy third party documentation, interfaces with other team members and access to systems. We did review whether remote would work and concluded it would not for this business. Thanks
  3. Adauxi

    Bookkeeper needed in Marlow, Bucks

    I have a client needing bookkeeping support for approx. 1/2 day per week. Needs to be able to attend client premises in Marlow and have experience of using Xero. Any recommendations would be most welcome, thanks in advance.
  4. Adauxi

    Inter company loan

    The recipient company is an associate of the participator. Loans to participators and their associates are caught within the scope of s455 - see hmrc.gov.uk/manuals/ctmanual/CTM61505.htm
  5. Adauxi

    Dividends - have I made a mistake?

    As Scalloway suggests, your tax free allowance will be wasted if you receive only dividends. Something like £640 a month would be a good start.
  6. Adauxi

    Inter company loan

    You need to be very careful about doing this. Both your companies will be close companies and hence caught within the provisions restricting loans to directors (s455). In extremis, you can be liable to pay a 25% surcharge to HMRC, although this can be refunded if the loan is subsequently...
  7. Adauxi

    A taxing question

    Commercial lets are often on a bare shell basis - agree this should not be an issue. Alternatively, your new tenant could pay some rent in advance? This could be used to pay for the blinds and carpets.
  8. Adauxi

    Partnership questions

    GarryP - are you thinking of an investor to provide money rather than someone to work in the business with you day-to-day? They are very different requirements. As Scalloway says, you really need to do a lot of checks into your potential partner. In terms of your get out clause - how would you...
  9. Adauxi

    company name registered...now what?

    You have 3 months from when the company becomes active to inform HMRC. You need a registered office - where the statutory records can be inspected. VAT registration is optional below the VAT threshold of £79k - for some businesses it makes sense not to register until you have to - such as...
  10. Adauxi

    Starting a new business - Need a little advice.

    You should think about limitation of liability too. Sole trader and traditional partnership carry unlimited personal exposure if something goes wrong. A ltd company or LLP can cap your exposure as well as creating that more credible presence. You can also have a shareholders' agreement for a...
  11. Adauxi

    Personal & Business Accounts, should they be in the same bank?

    It makes lots of sense to separate business and personal finances. It will save you time (and maybe money) when it comes to preparing accounts too. If you are running as sole trader, then separate banks make more sense. If you use a ltd company or LLP, then you can use the same bank provided...
  12. Adauxi

    New business - help needed

    Have you tried China? A client has been quoted 27p per bottle for 150ml including a pump and 2 colour screen printing, shipped to Felixstowe.
  13. Adauxi

    sole trader suitable?

    Ltd or sole trader is a cost benefit analysis but also about risk - with a ltd coy you can cap your exposure to things going wrong, whereas you can't as a ST. For a ST you'll still need accounts (to calculate taxable income) and as per a previous post you'll be taxed at marginal rates on all...
  14. Adauxi

    Where Can I Find Out About Typical Overdraft Rates

    Unsecured rates will be higher than for secured, as may the up-front fees on a smaller loan (there is a certain "cost" to the bank of getting it done). Check the term of the overdraft. You may incur a further facility-type fee to renew ...
  15. Adauxi

    Where Can I Find Out About Typical Overdraft Rates

    5% over base seems OTT to me. 3-3.5% seems better - and you may get lucky and get something a bit sharper. I'd expect nearer to 1% for the arrangement fee. Does your bank hold security already? If not this will add time and cost. As an alternative, I am aware of some flexible funding against...
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