Latest All Business Questions & Answers
Business rates
I have been in business for 16 months now and my business rates last year were £1691 for the year. It has gone up to £2095 this year. Is this increase normal?
Business courses
I'm in the process of setting up a business and want to take some courses. Can this be offset against profits to reduce tax liabilities?
Closing business account
I am emigrating soon, and would like to wind my business down. I currently have significant funds in my business account. What is the most tax efficient way to go about this?
Help with premises
I’ve heard that local councils help fund premises for the first year of a business. Is this correct and if so could you point us in the right direction?
Staff signed off
I have an employee who is about to have an operation and needs six weeks off to recover. They want to do some work at home after three weeks. Can they legally do this as I am under the impression that an employee cannot work while signed off?
New partner
We are a small two-man business, run as a partnership, and we want to employ a third person to join the team. Can you tell me what is involved when setting up a PAYE scheme?
Offsetting tax
I purchased a small business to complement my existing one. Can I offset the purchase price against the yearend profit?
PAYE scheme
If I take on a part-time employee and payments remain below the NIC threshold, can I avoid registering as an employer and running a PAYE scheme?
Bank pressure
I have a small business that recently expanded, leaving money a bit tight for the short term. My bank has given me 24 hours to agree to halving my overdraft and refinancing the difference in a loan to be repaid over five years. Is this right legally and morally? I have a sound business with no debts.
Profit and loss statement
When I started my self-employment I had £35,000 savings. Should I include this in my profit and loss (P&L) statement?
Start-up funds
Should I include my start-up funds as part of taxable turnover?
Finance for assets
I need finance to buy a small van for my company. How can I get help when the banks won’t help?
Bad credit rating
I have been refused a business bank account due to bad credit history. At present I do not have debt other then my mortgage. What should I do?
Partnership or limited company
What are the advantages to a limited company or partnership?
Recovering a loan
I gave someone £5,000 as a business loan. What is my legal recourse for getting the money back without a contract?
Information memorandum
I have been asked for an ‘information memorandum’ but am struggling to understand how this differs from the business plan. Could you please advise?
Re-employing staff
I had to make some employees redundant in April of this year. Business has now improved and I am able to take on more staff again. Can I re-employ any of my redundant staff in a new position?
Owner's salary
How can I increase my fixed salary when the business starts to make a profit?
Invoices and receipts
Where the majority of my goods come from there is no invoice or receipt involved. How do I go about keeping the taxman happy?
Using subcontractors
Do I need to keep details of the subcontractors I use to avoid paying tax on their cost?
Reclaiming tax
Can tax be reclaimed from previous years if I have made a loss this year? And if I make a small profit, can I also use my tax-free pay to claim back tax from previous years?
Employment contract
What constitutes a contract of employment?
Sole trader
Is it possible to set up as a sole trader while still being employed full-time?
Collection fees
A supplier is threatening legal action for a collection fee added to our account. Do I pay or fight?
CRM software
I am looking for costumer relationship management (CRM) software. All I need is something to stay in touch with customers. Can you recommend the simplest loyalty software?
Employment contract
I have a member of staff who has worked for me for over two years but I have never given him a contract. How should I go about letting him go?
Apprentice redundancy
I have just sacked an 18-year-old apprentice who has worked with me for over a year. I am concerned I did not follow the correct procedure, what rights does he have for unfair dismissal?
Website funding
I have an idea to start a business. How do I find out if I can get help with funding such as to set up the website?
Partnership wages
My husband and I are in partnership can you tell me the most cost efficient way of paying ourselves?
Trade marks
How do I protect a trade mark?
