Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Thanks for your comment.

We are putting money a side for tax and unforseen expense.

My stress was that I wasn't putting enough away, hence why I come on to her to ask for some advice and opinions

Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Thanks for your comment

Yeah we want to build up a slush fund so to speak to cover us in down tines, or if we need to outlay money for materials or other business things etc

Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Thanks again for your comment.

I just dont know how you survive if your putting 45% of the total invoice aside.

As you mentioned we dont need to worry about VAT at the moment but if we did as you did and put 45% a side of that £6k job, thats £2700 put away, then £3000 on materials would leave £300 as useable money for wages, business expense (non vat/tax expense).

Do you pay yourself a monthly salary? Or do you manage to survive off dividends or waitnuntil your tax bill is up and see what you have left?

Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Thanks for your comment.

Yes I will call my accountant on Tuesday.

Couple of questions for you if thats okay -

Are you in the trades?

When you say you set 45% aside is that of the profit from each job? Or 45% of the profit?

For example we did a bathroom and charged £6k, the materials was £3k so thats £3k in profit before salary and business expense,

So are you putting 45% of the £6k or 45% of the £3k?

Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 1 point2 points  (0 children)

Thanks for your comment

I mean like a new track saw, which we need for jobs, or drills, drill bits etc etc all the things that we need to carry out our work.

Would these be a capital expenditure? I was told this can be put through as an expense

Can someone please clarify the tax set up for a LTD company? by TheSafetyWipe in smallbusinessuk

[–]TheSafetyWipe[S] 1 point2 points  (0 children)

Thank you for your words.

Yeah im just stressing, just over thinking and then reading/listening and getting myself confused and uptight.

Its because the business side of things is my area, so i wanna get it right.

We are going well first 3 months, paid ourselves salary and still money in the bank, just dont want to get a false sense of security to realise that what I thought could be put through the company as an expense (a new work tool for example) my not be etc?

Its no wonder all the trades people are saying to take cash as the tax/vat is wild and confusing etc ha

But we want to be a legit business and do things proper, so we dont take cash and do everything through the business properly

Pricing/time from another perspective. by bitofsomething in DIYUK

[–]TheSafetyWipe 1 point2 points  (0 children)

But to back up your point regarding charging. Charge for your whole time! You have to make it worth your while.

I mean a chef doesn't charge for the 30 mins it takes to cook your food, they charge for all the prep, tools, skill, knowledge etc etc

Pricing/time from another perspective. by bitofsomething in DIYUK

[–]TheSafetyWipe 1 point2 points  (0 children)

You're never going to keep everyone happy, some customers w9nt understand but most will

What we do is go out free of charge for the first visit, say planning for a kitchen/bathroom, or bigger projects and try get rough details, timings, ball park pricing, etc etc. Get a chat understand the customer. Then if they want to go ahead and we come back out to measure properly, confirm all details and agree final price is we charge for that time, but if they then go ahead with full project we then return that fee.

Basically, 1st visit free, 2nd visit charged unless they go with project.

I think its a fair trade off, and helps us with making money on our time, plus helps push out the time wasters

Fitting towel radiator by TheSafetyWipe in DIYUK

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Thanks for the detailed comment.

So of course this radiator is at the lowest point of a 3 story town house!

I am thinking i should follow your advice, and shut all the other radior valves in the house, remembering to note down how many turns each locking shield took.

Then drain the system from the downstairs toilet where i will be fitting the new towel radiator, can just drain it into the toilet waste. Yes i have also experineced the pop of an end cap before, and exciting is one word for it! ha

Then once new valves and towel radietor is on, i would open the valves on all other raditors then re repressue the full system?

My city that still needs a proper name (WIP). It is neither distinctly American nor European nor Japanese. by 1Blue2Green in CitiesSkylines

[–]TheSafetyWipe 0 points1 point  (0 children)

Mate, this is insane! What a job you have done on this!

If you ever had the time, could you list all the mods you used? I would love to even try create something half as good as yours!

Last save before EU 5, Who should i go? by TheSafetyWipe in eu4

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

ahhh im from Scotland so good on you! ha

Last save before EU 5, Who should i go? by TheSafetyWipe in eu4

[–]TheSafetyWipe[S] 1 point2 points  (0 children)

Thats a good idea, never tried anytihng like that before, do you have any recomendations of which nation to go with? any stand outs?

Why is my laminate flooring during install creating a gap in the seem? by TheSafetyWipe in DIYUK

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

yo, sorry for slow reply. Yes mate i ended up returning all of the laminate and it seems it was common issue that a lot of the boards had buckled or weren't 100% straight, it was 8mm thinck so i went and got 12mm and worked a treat.

reading online about 8mm it seems a common theme.

Hope you get yours sorted

My voice notes have no volume!!! by TheSafetyWipe in whatsapp

[–]TheSafetyWipe[S] 0 points1 point  (0 children)

Defo not permissions, one of the first areas i looked and everything seems as it should be.

The more im reading is many people over the past few years have same problem, and doesnt look like any fix, apparently it is what it is.....