accountancy

  1. S

    Accounting and Tax questions from a new Startup owner

    Hello, I'm new to this site and looking for some help and guidance on an Accounting & Tax related topic. I registered my software development business about 4 years ago however it has been dormant ever since, whilst i was building it. Over the course of the past 4 years I did incur expenses...
  2. S

    Can ACCA member run non-accountancy firms without PC?

    Hi all, First, i would like to apologies if the similar question has been asked before. Im ACCA active member (without practice certificate) and running side businesses under limited companies mainly in construction, building, property investment company (SPV) and development company. In each...
  3. A

    What is the proper category for recoding a bonus/incentive given by a bank for switching a bank account?

    What is the proper category in FreeAgent for recoding a incentive/bonus given by a bank to a limited company for switching a bank account? The closest option that I see is the "Grant Income" category under the "Other Money In" type which is recorded under "Other income" and in the CT600 report...
  4. Should Your Business Go Cashless? The Pros and Cons of Card vs Cash Payments

    Should Your Business Go Cashless? The Pros and Cons of Card vs Cash Payments

    One of the big decisions business owners face is how to accept payments. Do you stick with cash, embrace electronic payments, or offer both? It's not just about personal preference—it can impact your bottom line, efficiency, and the type of customers you attract. Cash has been the backbone of...
  5. P

    Liquidation nightmare

    Good evening. I’ll try and keep this brief. We had to put our limited company (2 directors) into liquidation at the beginning of 2023. Accounts were done and submitted for beginning 2021 and done but not submitted for beginning of 2022. The most recent accounts (not submitted)had a OD DLA £4k...
  6. Being VAT Registered is Killing My Business

    Being VAT Registered is Killing My Business

    Navigating the VAT registration threshold is a significant milestone for many UK small businesses. Crossing this threshold, currently set at £90,000 in taxable turnover, brings both opportunities and challenges. Insights from UK Business Forums (UKBF) members shed light on these experiences and...
  7. A

    Accountants Advice: Options to close my unused (2 years) business account with £4500 & LTD company

    Will try to keep it short, but provide as much info as possible. I have a Limited company which has a business account. The balance in the business account is £4,500 (cash profits left over after taxed in previous years) which came from contracted jobs I have done in the past, but I have had no...
  8. T

    Bibby factoring finance

    Hello, I am in need of some advice, after 2 years of starting the business I came into contact with 2x contracts which paid on a 3 month term period, the issue occurred when I had to pay for outgoings which at times could be in the thousand carrying out new build groundwork, with outgoing being...
  9. A

    Actually helpful advice & guidance …please? re: Tax / BTL / Late payment chasing

    Hi all, this isn’t a post for ‘freebie’ advice but rather seeking recommendations for anyone you know who may be helpful. TLDR; I’m looking for productive, proactive advice and guidance based on my circumstances in the areas of interest below 👇 Just got off the phone with a company...
  10. R

    Invoice Implications

    Lets hypothetically say there is 1 client that normally pays a business with cash in envelope. Around £2.5k to £3.5k per month. Now this client is thinking of actually getting 'properly' billed/invoices and pay directly into the business bank account. What would be the tax implications. How much...
  11. Juan Garzon

    Year End Responsibilities - recently constituted business with no operations so far

    Dear all I set up a limited company incorporated on 26 Feb 2024, for a language school business - I am the sole director. I am working to starting operations properly in September 2024, with no real financial movement so far i.e., no expenses/costs or revenue, etc. Do I still have any...
  12. Essential financial year-end admin for small businesses

    Essential financial year-end admin for small businesses

    6th April marks the beginning of the 2025/26 tax year, bringing with it a host of responsibilities for business owners. Whether your business’ financial year is in line with these timings, or your accounts run to a different point in the calendar, here are the essential tasks for every business...
  13. F

    How to account for materials used

    Hi as an handyman if you buy paint, wallpaper or say copper piping to do a job and you buy it specifically for that one job and not to keep it as a stock, you then get paid for the labour and for the cost of that material, where do you put the material expense so it does not go against your...
  14. I

    Start and set up a payroll bureau

    Hi, I'm keen to become self-employed and set-up my own payroll bureau. Has anyone here done this already, or is in the process of doing so, as I'd really appreciate some guidance? I.E step by step process of setting the company and bureau Many Thanks Iram
    • Irammahmood
    • Thread
    • accountancy business-planning finance payroll small-businesses
    • Replies: 4
    • Forum: Start Up Space
  15. A

    Start-up Outsourcing firm

    Hi everyone, I started an outsourcing firm for accountancy practices in UK. I currently work at a practice and alongside that I am trying to grow this business. We are based in Cardiff and we have a team in India to outsource the work to. I am struggling to find clients, I am wondering if...
  16. E

    Sole Trader and business loan

    Hi My partner started up a hire business as a sole trader. She have taken a £45k loan out. She is paying it back monthly The income she get from hiring, do you pay tax on the whole lot or just the income left after paying the loan back? Thanks Elliott
  17. A

    Starting a business with multiple brands - what's the best formation?

    Hi. Right now i'm starting a business. Initially from day 1 there will be one brand, from year 2 I plan to create another brand leveraging off of the same (or very similar) product, same manufacturing plant but with different branding / website / target market etc... From day 1 (i.e. now) what...
  18. J

    J&S Accounting Limited

    Welcome to J&S Accounting. We are your reliable and competent partners for all of your accounting, tax and business needs. Our experienced team provides professional, modern and confident solutions that are tailored to you and your business. We prioritise integrity and objectivity in everything...
  19. Uwe (Invoiceberry)

    InvoiceBerry – Online Invoicing Tool

    InvoiceBerry is an online invoicing tool for small business owners. Create, send and manage beautiful-looking invoices, quotes and credit notes in a matter of minutes. Get your invoices paid faster by offering online payment options to your customers. InvoiceBerry integrates with Stripe...
  20. J

    Lloyds Business Finance Assistant Accounting System

    Has anyone tried Lloyds Business Finance Assistant, is it any good?
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