Very concise, informative and straight to the point. Thank you

@HeelanAssociates

3 ай бұрын

Glad you enjoyed!

Thank you for all the useful information, they're insightful and helpful for building confidence and understanding what I need to do when registering and starting a coy.

@HeelanAssociates

Ай бұрын

Glad it was helpful!

Very timely. Thanks

@HeelanAssociates

Жыл бұрын

Always good to hear it’s hit the at the right time!

Thank you for your information 😊

@HeelanAssociates

8 ай бұрын

No problem! Thanks for watching

Very good information, thank you.

@HeelanAssociates

Жыл бұрын

Glad it was helpful!

Very helpful, thank you 👍🏼

@HeelanAssociates

4 ай бұрын

Glad it was helpful!

Very helpful thank you!

@HeelanAssociates

3 ай бұрын

Glad it was helpful!

Me and my Ukrainian girlfriend, Sonja (she's mildly cretinous) set up a company called Tomahawk Leisure. We looked into its operation and closed it down again. It was inoperable.

@alexkillsdie

19 күн бұрын

Needless to say, you had the last laugh.

@HeelanAssociates

13 күн бұрын

Great name :)

Brilliant video, you explained it very clearly and it was very interesting.

@HeelanAssociates

15 күн бұрын

Glad you liked it!

Great video thanks. Im in two minds at the minute weather to go down this route or not

@HeelanAssociates

11 ай бұрын

Have you seen this one? kzread.info/dash/bejne/g3aMp9NyY5TOaZs.htmlsi=x2f2vfuDEJ9mA4Ok The value mentioned in the video is probably more like £40-45k profit these days, but the points are still the same.

Very informative videos! I have a side hustle that I am building a mobile game with ads and monthly subscription. I have no idea about opening UK business, taxes or accounting. I am wondering does your company help entrepreneurs on that regard? Because I am considering contacting you about that. Also please let us know of any recommended books if any on starting a UK business if any.

@HeelanAssociates

11 ай бұрын

Hey, yes we work with loads of business owners starting up who fit our profile for what makes a good mutual fit (including being physically in the uk). If you’d like to explore your options you can contact info@heelanassociates.co.uk

awesome watch

@HeelanAssociates

9 ай бұрын

Glad you enjoyed!

Hi, can you make a video on the trends in accounting industry and how your company respond?

@HeelanAssociates

Жыл бұрын

It’s an interesting one. I’m not sure how well that would go down with the wider audience/ what value it would bring - did you have a topic in mind?

@mykola_kanyuk

Жыл бұрын

@@HeelanAssociates I think it's all about digitalisation, digitalisation of interaction with HMRC more less, and what value in times like this your company brings to the clients.

Thanks so much

@HeelanAssociates

3 ай бұрын

No problem

May I ask a quick question please? Out of interest, I have a couple of business interests/side hustles, just starting out. Where do I put these expenses (no profit this year) on my self assessment form? It's not obvious. Thank you in advance for your help.

@HeelanAssociates

Жыл бұрын

If you are talking about limited companies, their trading losses don’t go on your own self assessment. They are handled in the company tax return. If you mean self employed losses you’d fill out the self employment pages in your tax return with the figures (there will be a box for expenses on those pages ).

Hello guys nice explicaton, Evrey one on KZread it tell you how to open account with amazon but what tipe off company you need and show you all pass you need to open a company , no one . im not shure what type of company i need and also if i need a real address in uk how manage as im tenant and i can`t use that address, maybe can you do one tutorial about thks

@HeelanAssociates

2 ай бұрын

Sounds like a lot to cover in video, but we’ll consider if there is something we can cover on this one!

Please tell me which SIC code is better to choose for SaaS (Software as a Service), if the site operates on a subscription basis.

@HeelanAssociates

7 ай бұрын

Often we find these days sic codes are a little outdated in terms of categories. The thing most owners tend to do is pick a pretty generic ones with ‘…not elsewhere classified’ on etc.

Hi. I'm potentially starting a daily rate contract outside IR35. How quick is the set up process if i used a co like yourself? Also, my wife does not earn a salary and could doing with addig NI years for pension purposes so presume a ltd company would open up options ? Thanks

@HeelanAssociates

9 ай бұрын

Thanks for the message. We can usually get a company running in say 48-72 hours if we have all the relevant info. Can even been done same day if needed (there is a charge that can be paid to Companies House to express it). Does sound like that if your wife is going to work for you, it could be a good way to add to her NI record, presuming the right earnings levels.

Informative,, im currently working for a company that subcontracts to other companies, im looking to leave and start on my own, the company that we subcontract to dont want me to leave. I have stated that i will be going it alone,, I think they will hire my services once ive set up.. not sure how i go about this, (liability insurance ect ect) can i set up a ltd or sole trader without any income to begin with, ie, might take me 1-4 months to actualy get work......

@HeelanAssociates

8 ай бұрын

This one is hard to cover in a comment / without more knowledge of situation but in general you can set things up before first invoice/income (fairly normal to do so).

Would you recommend opening a limited company for an online business? May become liable for VAT in the future

@HeelanAssociates

Жыл бұрын

We see a lot of people doing that for the practical reason they worry about having to change details with online platforms later, but the advice here is still relevant SHOULD I BE A LIMITED COMPANY? kzread.info/dash/bejne/g3aMp9NyY5TOaZs.html

I’ve almost completed writing my children’s story book, with my own watercolour artwork in the book. I’m looking at going the self-published route, and wondered if I should create a Limited company to protect my intellectual property on the books/artwork, and to sell the books via the Limited company. Would you advise I do this? Thanks

@downtown_kt

5 ай бұрын

Hi! I am doing something similar (Digital products) and was wondering the same!

@HeelanAssociates

5 ай бұрын

Sadly can't advise on individual situations here due to professional regs, but can share: *The IP/trademarks need to be dealt with in addition to having the LTD. It can be a useful 'vehicle' to have if you like to sell them eventually, or extract profit efficiently (depends on your situation). One key thing here is if you do get a limited co to sell these items, ensure the contracts and paperwork relating to the income are clearly in the company's name if this is your intention - this one is a common issue. Good look with the book!

@ebojfmdboojoh4023

Ай бұрын

Well if you wish to sell books to the major bookstores then no retailer or wholesaler will deal with you if your not a corporation.

May I ask you for something? Do you know any British banks, where you can open an account with credit line (in case you are still waiting for your invoices to be paid, but bills are due to be paid)

@HeelanAssociates

8 ай бұрын

Not that spring to mind. I think if you have a history and willing to sign a personal guarantee and or have security you can find lenders, but without its challenging.

I set up a new company 2 days later changed the name and have the certificate of change but when I open a bank account and I search it it's showing my old name , what can I do

@HeelanAssociates

2 ай бұрын

When you change it with Companies House it generally only happens there. You have to manually change it everywhere else, including with the bank.

I' d like start o Company in UK, but I am Italian can I do now 2024 after the Brexit. I don't want work from Italy but in England. Can I use a virtual office like registered office?

@HeelanAssociates

4 ай бұрын

You can have a bought office address as a registered office address yes, just not completely virtual ‘PO box’ due to recent changes with Companies House.

Can a person on Tier-2 Work Visa set up a Ltd company? If yes, then is it the same process or need to do a different route?

@HeelanAssociates

7 ай бұрын

We don’t get involved / advise on visa issues. I suspect it’s physically possible though.

Do you legally have to have a Company Bank account?? For example if your a Market trader operating as a corporation and you only dealt in Cash transactions, do you have to put the money in a bank account??

@HeelanAssociates

Ай бұрын

No, although you’d likely still need one to pay tax and direct debits for certain things.

Is it possible to setup a new limited company and have another company as the shareholder, ie, this new company pays the parent company and it then pays dividends to the director

@HeelanAssociates

15 күн бұрын

Yes this is how groups are set up. Have a look at this one kzread.info/dash/bejne/p6Og3K2ShNyth7w.htmlsi=j24Zls05W_xumWTX

Is this the same way to set up a physiotherapy home care service?

@HeelanAssociates

24 күн бұрын

The discussion is similar in terms of considering if it’s right for you.

Hi do I need to setup as a Ltd if I want to secure a business name? Or can I just setup the business name as a sole trader?

@HeelanAssociates

3 ай бұрын

Oddly all setting a limited company up does from a name point of view is claim it at Companies House. Sounds odd but that doesn’t mean the name is all that secure as someone could have a trademark covering it. You could do the trademark as a sole trader anyway.

hi i got a german friend wants to open a business in the uk can you tell me what's the steps to follow please my regards

@HeelanAssociates

7 күн бұрын

Sorry that’s a little hard to outline in just a comment here.

Can i transfer a house i have in personal name in italy to a limited company in uk?

@HeelanAssociates

11 ай бұрын

Sorry Italian property ownership is outside the scope of our experience.

Hello I am French, I am located in France, and I created a Ltd to sell on Amazon UK, but I don't understand why since I thought it was free? and yet I receive letters maybe once a month from the IKA government and now they are asking me for money even though I have not made any sales I have to pay to close this business because I don't use it? Is it possible to change my bank card number and also my postal address?

@HeelanAssociates

7 күн бұрын

Hi thanks for taking the time to comment. I think with this one there are just too many issues and further questions needed to be able to provide value in a comment here sorry.

Can i open a limited company just for buying and holding crypto?

@HeelanAssociates

11 ай бұрын

Yes. Whether its a good idea or suits your goals is a separate question!

Can you use a limited company on shopify if your under 18 instead of your parents information because of their unwillingness because it might impact their taxes? Any help appreciated

@HeelanAssociates

Ай бұрын

I’m unsure about shopifys t&cs on this one. Biggest challenge under 18 is often getting a bank account for the company.

@SleepSound_shop

Ай бұрын

@@HeelanAssociates I’ll try my best :)

Hi, great podcast, Do I need a passport to open up a UK ltd company thanks

@HeelanAssociates

5 ай бұрын

In theory no it’s practically possible without. You may find other challenges without though such as opening bank accounts etc.

@OldFirm

5 ай бұрын

@@HeelanAssociates Thank you

At what amount of income would you suggest creating LTD ? Over 50 k?

@HeelanAssociates

7 ай бұрын

It’s very dependant on your goals and situation but in 2023 £45k profit is often a good breakpoint where we see good results. But it is very dependent on your own circumstances.

Interesting

@HeelanAssociates

2 ай бұрын

Thank you

So a LTD company is the same as a LLC? Please answer, thanks

@HeelanAssociates

Ай бұрын

In short yes, the term LLC tends to be used more in the US.

Hello, i'm actually living in italy and i wanna start dropshipping\e commerce, and i want to create an ltd in uk, can i?

@HeelanAssociates

4 ай бұрын

You could physically form a company but it comes with multiple tax issues that may well mean it’s not worth doing.

Hi do you help people create unlimited companies?

@HeelanAssociates

Жыл бұрын

Could you expand on ‘unlimited’?

What is the best company house you would recommend

@HeelanAssociates

2 ай бұрын

There is only one companies house so I’d recommend that 😃

How?

@HeelanAssociates

Жыл бұрын

How.

Can I form an Ltd from the Philippines?

@HeelanAssociates

9 ай бұрын

People do yes.

Don’t forget sole traders get £1000 allowance so you don’t pay tax on your 1st £1000 revenue

@HeelanAssociates

2 ай бұрын

We have another vid on that :)

And security company?

@HeelanAssociates

2 ай бұрын

could you expand?

Hi how much do you charge and would you be able to have a chat with me thanks

@HeelanAssociates

10 ай бұрын

Hey, thanks for the interest. If you’d like to know how we might help with this the usual process is we book in a 'discovery call', In this this half an hour (ish) discussion, we like to find out more about your business and situation, and typically find people want to learn about us, our services and a feel for our fees. We don’t give advice on the call it’s more understanding you/your business and running through our options for support. If you’d like to do the discovery call, you can get in touch at info@heelanassociates.co.uk and one of the team will get in contact.

It sounds like a company is taxed 19% on profit and a sole trader is 20%. That 1% difference starts being important at higher figures, but for someone just starting out it doesn't seem to be much difference. Am I getting it wrong?...

@jazztastic9007

11 ай бұрын

It’s 25% now

@HeelanAssociates

10 ай бұрын

Right now its 19 - 25% for a company (corporation tax) and sole trader 20 - 45% (income tax). You do get taxed further in most cases when you draw money from the company however. You have other things in the mix though, like National Insurance (9% sole trader), and for a limited company you can 'time' your income for better personal tax result, or potentially split some income with someone else. Plus the rules around what you can deduct vary between to two etc etc.

@bartooma

8 ай бұрын

​@@HeelanAssociatesif I am the only shareholder and director of my limited company. And I live abroad and pay myself a salary. Will I pay both taxes? One as a corporation and the other for income? My far objective is to sponsor myself as a skilled worker and enter the UK.

how difficult is it to go from sole trader to llc?

@HeelanAssociates

Жыл бұрын

Not very in most cases but there are considerations SOLE TRADER TO LIMITED COMPANY - KEY THINGS TO THINK ABOUT kzread.info/dash/bejne/eHp5m7R_qNXUmrw.html

5:26

@HeelanAssociates

5 ай бұрын

👊

Company house beta

@HeelanAssociates

5 ай бұрын

👊

Hi do I need to setup a Ltd in order to secure a business name? Or can I just be a sole trader?

@HeelanAssociates

3 ай бұрын

Oddly all setting a limited company up does from a name point of view is claim it at Companies House. Sounds odd but that doesn’t mean the name is all that secure as someone could have a trademark covering it. You could do the trademark as a sole trader anyway.

Interesting

@HeelanAssociates

2 ай бұрын

Glad you thought so!