Offsetting a loss against future profits
QUESTION: Having started a business as a self-employed driving instructor and made a loss in the first year, can this loss be offset against future profits?
Accounting
The accounts section, brought to you in partnership with Sage, features in-depth guides and features for UK small businesses and start-ups needing advice on how to manage company accounts, including topics such as cashflow management, late payment, bad debts and bookkeeping.
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QUESTION: Having started a business as a self-employed driving instructor and made a loss in the first year, can this loss be offset against future profits?
Accounting
Accounting
When a company trades as a different name to their legal name (e.g. Fred Bloggs Paving Ltd. t/a Crazy Paving). Is it legal to raise invoices using their trading name only?
Accounting
I buy and sell cars and I am using the SAGE accounts system, however I am struggling with putting on credit notes and working out the VAT I will have to pay back.
Accounting
The deadline for filing your Employer PAYE end-of-year returns is mid-May. To make sure you get the best out of online filing, SmallBusiness.co.uk and HM Revenue and Customs (HMRC) have put together this list of common errors to help you avoid making the same mistakes.
Accounting
Can I claim VAT on postage as it has been pointed out to me the receipts have a VAT no. on them?
Accounting
I'm approaching retirement and looking to sell my business. Will there be taxes to pay?
Accounting
I am a freelance designer and I find it impossible to get people to pay me on time. What’s worse, I often end up taking a discount on what I have charged just to get paid because I am short of money. What can I do?
Accounting
One of the critical elements of running a successful business is being able to manage your cash flow.
Accounting
I am a freelance designer and I find it impossible to get people to pay me on time. What’s worse, I often end up taking a discount on what I have charged just to get paid because I am short of money. What can I do?
Accounting
One of the critical elements of running a successful business is being able to manage your cash flow.
Accounting
I am self-employed and shall be 65 on April 3rd and my wife is 62. I intend to draw a deferred pension accrued from when I was working. I understand my tax allowance will be increased this year. If I continue to work for a couple of years or so, and also employ my wife, part-time, to carry out book-keeping, what are the tax implications?
Accounting
If you already run a business, you will have a trading history and will be able to use this to make decisions about the future.
Accounting
Can a private individual set up a company to buy houses and then buy their own house through that company and rent it back? Are there any benefits of doing this?
Accounting
I am a sole-trader who has been trading for 3 years. I currently have rented office space, however I am in the process of extending my home to provide me with the facilities to work there instead. What build / equipment costs, if any, can I write off against tax?
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