HOW TO SAVE TAX LEGALLY FOR YOUR SMALL BUSINESS (UK)

[@YJK523]

You always provide great advice and tips. Many thanks. Great channel

[@HeelanAssociates]

Glad you enjoy and hope its helpful :- )

[@milesking6245]

Hi Dan - another great video, pitched at the right level (for me) as a small Ltd business owner. Much appreciated. I know you briefly had a short video on pensions. I know you are not a pensions advisor, but some guidance/thoughts about Ltd Co payment into pensions (alongside salary and dividends) would be a great topic for the new tax year. The 'wholly and exclusively' test warrants some explanation. Please keep up the good work!

[@HeelanAssociates]

Thanks Miles, yes we've avoided talking about pensions too much as its a fine line for us to walk! We do have a vid on the list though....

[@milesking6245]

@@HeelanAssociates Many thanks Dan. Will drop you a line directly!

[@jeffrybob484]

Trivial benefits for Directors if Limited is also something small business Directors can benefit from. Love your videos, thank you

[@HeelanAssociates]

Yup we have a vid on this one kzbin.info/www/bejne/kH_cpGWZrJVgq8k

[@jaiharji4840]

Amazing videos. So helpful. Can you create one on how a Ltd company can invest surplus/profit in the stock market. With pros and cons. That would be amazing!!!!

[@HeelanAssociates]

Will see if we can add to the list! With investment topics we often steer away as things that boarder on financial investment advice is regulated, and in the realms of financial advisors rather than accountants! But we might be able to do something around the topic. Will have a think

[@xxxMrBadExamplexxx]

@@HeelanAssociates it's not about in what to invest, but rather is it legal for business (either ltd or sole trader) to invest in stocks and maybe crypto too?

[@theCodetest100]

Hi, please can you recommend a video you have that explains how to calculate biills if you are a sole trader and work from home. Thank you so much

[@HeelanAssociates]

We will add to the list! The only one we have is a little old, although theory is still sound Tax Tips for the Self Employed - Working from Home kzbin.info/www/bejne/fmnXgWComblmaZI

[@ConnorM279]

Any videos or tip on mobile phones for director and that part explained?

[@HeelanAssociates]

We haven’t yet but could add to our list

[@NightInACity]

Hi, can I add profit and expenses from multiple self-employed businesses to report as one amount. Even when 1 business is making a loss and another making a profit.

[@HeelanAssociates]

If they are different trades you need to report on different sets of self employment pages inside the return. You may then need to consider what can be done with the profits, there are quite a few rules about what can and can't be done, depending on the losses. Sorry its a bit vague, but what can be done is very specific to the situation so difficult to say here in a comment.

[@Nugget2on1]

Any tips on saving tax when I sell a small uk business? 38k invisible assets? 30k customer goodwill, 17for veh n equipment, total sale 48k ThanQ Russ

[@HeelanAssociates]

Hi Russ super detailed answer we can’t give in this one here sadly - so many moving parts! Definitely check out business asset disposal relief though and see if it applies to you.

[@mahammedibrahim8277]

what if i dont have a business card and i have been using my personal account for expenses over 5k+?

[@HeelanAssociates]

That’s likely fine presuming you have the records.

[@lfcburt6567]

Can I claim on office supplies bought on amazon before registering the company?

[@HeelanAssociates]

Similar rules www.heelanassociates.co.uk/can-you-claim-expenses-before-a-self-employed-business-starts/

[@ravenhide2541]

What if the receipts kept over the years are faded and haven't been captured. Can you use bank transaction record to back up what you claimed for lets say 3 years ago?

[@HeelanAssociates]

If the only records you have are bank records as a result, you do what you can with what you have!

[@Macallion]

You can try applying gentle heat to the back of faded receipts. If they've been printed by a thermal printer, it should make the text legible again after a few minutes.

[@as14842]

This video said absolutely nothing

[@HeelanAssociates]

Thanks for the feedback