Recent content by Jon12345

  1. Jon12345

    How to find your VAT balance?

    If there is an error in my accounts, then I might have overpaid and money is sitting with HMRC. Their system shows if you owe them, but it doesn't show if they owe you!
  2. Jon12345

    How to find your VAT balance?

    HMRC also know if you have overpaid, because you submit what is due and then receive a payment. So I don't know if there is already a positive balance there with them. I'm sure in the past you could check. In the past, if I overpaid, I sometimes got the overpayment refunded, but other times they...
  3. Jon12345

    How to find your VAT balance?

    I cannot see anything about what they owe me. I only see what I owe, which says, "You do not owe anything right now." But that doesn't tell me if they owe me something.
  4. Jon12345

    How to find your VAT balance?

    Is there somewhere online where I can login to see my VAT balance with HMRC? I think I might have overpaid but I cannot find where to see a running balance. Any ideas?
  5. Jon12345

    Which business bank account with low fees?

    I've decided to switch from HSBC to Mettle. Then, because it has Freeagent, I can cancel my pricey £40pm Xero subscription. So I'm better off by about £700 per year now. But wait! I have a £30pm subscription to LinkMyBooks, which links Xero to my Amazon account. But Freeagent has something...
  6. Jon12345

    Which business bank account with low fees?

    I haven't asked Starling because from what I read online, they don't give out any reasons so you can't game the system. So far, it looks like a toss-up between Wise and Mettle. Both seem to connect with Xero. Tick. Mettle is a bank and so you can do that automated system where they transfer...
  7. Jon12345

    Which business bank account with low fees?

    I've found that Mettle, which is a Nat West offshoot, has free banking and it links with Xero, at least that is what I can gather from my initial read. That covers all the bases for me if indeed this is the case, unless I have misunderstood their blurb.
  8. Jon12345

    Which business bank account with low fees?

    I was not aware that Virgin did one for free as well. They also throw in Xero for 3 months. But I'm more interested to know if they allow Xero to be automatically connected to the Virgin account so I don't have to manually import the transactions.
  9. Jon12345

    Which business bank account with low fees?

    My £15 per month is for the privilege of having the account. I am not including any things like foreign transaction charges, cheques etc.
  10. Jon12345

    Which business bank account with low fees?

    Starling is £0.
  11. Jon12345

    Which business bank account with low fees?

    I've been with HSBC for about 20 years, but they have been charging me £15 per month for the privilege and £32 per year for a business credit card. It is too much! My attempts at getting a business banking account with Starling were rejected, although I have no idea why. So, I am still looking...
  12. Jon12345

    ****** bot trading - classed as personal or business?

    I did some trading of ****** last year using bots, where you get a lot of transactions. Does this get classed as a business or is it considered personal? I suppose the underlying question is when does it make you a trader.
  13. Jon12345

    Tax treatment of 2 businesses as sole trader

    I have been running a business as a sole trader for quite some time now. This business is VAT registered. Recently, I started another venture unrelated to my existing business. It is still as a sole trader, not a Ltd company. So this raises a couple of question. 1. Since this is a new...
  14. Jon12345

    SEISS and Self Assessment

    All done now. Thanks for the help guys.
  15. Jon12345

    SEISS and Self Assessment

    Actually @DWS, I do have one more question! I understand I need to put it on my tax form, but am I also supposed to put it into my accounts in Xero? Since it comes from the government I am assuming not, but I might be wrong.
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