Recent content by swdirect

  1. swdirect

    Super Payments - too good to be true?

    I’ve seen these on a competitor of mine. I decided to have a nosey, and they’re not onboarding anyone new unless you have £7m turnover. It seems odd, given that their losses now total £23m. They have basically depleted all the cash they had from investors, unless they’ve acquired further funding...
  2. swdirect

    Stripe 3D fails

    I am using Stripe with WooCommerce and noticing that around 5% of customers fail 3D authentication. When reviewing the logs, most failures state: 'The customer failed 3D Secure authentication.' A 5% failure rate seems quite high to me. I do offer multiple payment options including Klarna...
  3. swdirect

    Negotiating on unit

    I'm in N Wales, quite a few empty units within 10 miles. Most landlords seem happy to leave them empty, rather then lower the rent and get someone in.
  4. swdirect

    Negotiating on unit

    I have been running my business from home, but I am looking for a small unit of around 500 sq. ft so I can expand. There are quite a few empty units, but most are larger with high rents. The nearest small unit is around 500 sq. ft., but it's £750 a month plus VAT. It’s been about 12 years since...
  5. swdirect

    Woocommerce Tax and QBO

    The QuickBooks connector seems to work pretty well for WooCommerce. I'm also testing OpenPayout because it supports all our platforms. I've set up bank accounts for Stripe, PayPal, Clearpay, TikTok, and Klarna. Some of these make it difficult to see the opening balance, which I need to set...
  6. swdirect

    Woocommerce Tax and QBO

    I was looking at Synder which works with QBO, it's expensive and starts at like £52 a month. Does what I would need, but at quite a cost for a small business :-(
  7. swdirect

    Woocommerce Tax and QBO

    We also use Clearpay and Klarna, so should I just setup bank accounts for all of them and not bother import We also use Klarna and Clearpay, so I’m guessing we’ll need bank accounts for those as well. Is the best approach to avoid importing WooCommerce transactions and just set up the bank...
  8. swdirect

    Woocommerce Tax and QBO

    I currently use QBO to import bank transactions and reconcile them every month. I only track what goes into the business bank account, but since we’ll need to register for VAT, things are going to get more complicated. What’s the best way to account for Stripe and PayPal fees? Will I need to set...
  9. swdirect

    Self employed losses

    Yeah, the wording is confusing. So on my SA where it says 'Loss from this tax year set-off against other income for 2023-24' I can just put in the full amount of the loss? Going forward I'll just have the 1 business, which hopefully will make a profit at some point.
  10. swdirect

    Self employed losses

    I have or had a courier business in year 23/24 and also I started a new online retail business, on the self assessment which I haven't submitted yet, it asks you to enter the info seperate for each trade or self employed business I had. It shows the loss but doesn't take this into account...
  11. swdirect

    Self employed losses

    From reading the link someone posted above it looks like I can't claim the loss from the new business against the profit I made from the courier business? as they are 2 seperate trades even though I am self employed in both.
  12. swdirect

    Self employed losses

    I earned £1700 in untaxed bank interest, I presume I can claim £700 of relief as that is other income?
  13. swdirect

    Self employed losses

    So it doesn't look like I can offset the loss against trade 1 from trade 2 then, even though these are both under self employment. I might however be able to recover the loss when the company is profitable.
  14. swdirect

    Self employed losses

    In 2023/2024, I had two self-employed businesses. One made a profit of approximately £24,000, while the other, which I set up a few months ago, will have losses of around £4,000. Can these losses be offset against the profit from the first business to reduce the amount of tax paid? I'll need to...
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