Recent content by tbon

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    Use of home allowance from multiple companies

    Do you mean, that only £312 per year is non taxable income, and anything received above that will be taxed with income tax?
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    Use of home allowance from multiple companies

    Yes, that's clear, but is it relevant? All claims are based on simplifed expenses, not % of utility bills.
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    Use of home allowance from multiple companies

    Hi All, I would like to ask your opinion about claiming use of home allowance (i.e. £6 / week) from multiple places. Assuming I'm a director of two limited companies, can I claim the allowance from both of my companies and would that be tax deductible personal income? Assuming I'm a sole...
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    Confused by Company Tax Return for the first year of trading

    What does it mean to start trading? Is it the date of the first transaction on the company's bank account? If so, that happened on 07/02/2023 when the directors transferred some money to the company's bank account (director's loan).
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    Confused by Company Tax Return for the first year of trading

    Last year we formed a limited company on 16/01/2023. Recently, I've received two notices from HMRC to file a Company Tax Return: one for the period 16/01/2023 - 15/01/2024 the other for the period 16/01/2024 - 31/01/2024 Both notices say "Your Company Tax Return is due by 31 January 2025"...
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    Best accounting practice for PayPal and FreeAgent

    It definitely sounds like an effort to set it up and maintain it. On the other hand, when done, FreeAgent could be used as a tool to follow payments and refunds on each customer's account, as it aggregates various methods of payments. As I don't have a good tool for this yet, I'm considering to...
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    Confirmation Statement

    I think @WaveJumper meant to say browser cache and cookies.
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    Confirmation Statement

    I've just done mine this afternoon and it worked fine.
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    Best accounting practice for PayPal and FreeAgent

    It seems I will be able to import them from a CSV file, so setting up shouldn't be too bad. On the other hand, if I understand correctly, I will have to create an invoice in FreeAgent for each PayPal payment to be able to match them to contacts (i.e. customers). Do you think my understanding is...
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    Best accounting practice for PayPal and FreeAgent

    Thanks this works fine now. Now, as I have hundreds of small customers (each paying a small annual amount), I'm wondering if it's a good idea to create a separate contact in FreeAgent for each? This way I could follow their individual balance in FreeAgent. Or is it better to just assign their...
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    Best accounting practice for PayPal and FreeAgent

    Hi, we have a small web business with hundreds of customers each paying us a small fee using PayPal. We want to do our bookkeeping and accounting with FreeAgent. What's the best way to connect the two? Do we have to represent the PayPal account in FreeAgent as a bank account and import all the...
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    Best timing to issue shares?

    Thanks for your contributions, guys. It's been very insightful.
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    Best timing to issue shares?

    Why do you think it's better to do it before?
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    Best timing to issue shares?

    Hi All, My partner and I own a limited company, 50% each, by holding 1 share each (of value £1). Now, we want to change the ownership structure to 30%/70%, by issuing 2 and 6 more shares respectively. (I guess in this case this is the easiest way to change the ownership structure.) My...
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    Legal requirement for a written contract for freelancers?

    Hi All, I work as a freelance software engineer via my limited company. I work for my clients directly, so no employment agencies or umbrella companies are involved. My clients are limited companies and a project can last from a few days to a few months, completely random. Is there a legal or...
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