I didn’t know anything a week ago. Then I found your channel and have pretty much watched all the videos. As a young architect looking to set up imminently I now have a pretty good idea of what I am going to do, so thank you for spending the time to make these videos. 👊

@HeelanAssociates

Жыл бұрын

Really glad to be of help Tom, it’s sad there isn’t more of this in our school systems.

Ooo! Love a new video on a Sunday evening! Cheers Dan!

@HeelanAssociates

Жыл бұрын

Glad you enjoy Anthony!

This has been so helpful…..thank you

@HeelanAssociates

Жыл бұрын

Glad it helped!

So pleased I've found you. I'm about to open a wedding planning business and am grateful for all the info.

@HeelanAssociates

Жыл бұрын

Glad the videos helped Jody!

Fabulous video. Thank you for posting 👍👍👍👍🥂🎉🥳

@HeelanAssociates

Жыл бұрын

Glad you enjoyed Lawrence!

These videos are great thanks!

@HeelanAssociates

Жыл бұрын

Glad you enjoyed James!

Thanks for sharing another interesting and informative post, at the moment many are feeling insecure in their employment and are considering starting on their own, very supportive sound advice, thanks

@HeelanAssociates

Жыл бұрын

Glad it was useful Mike!

@MikeJones-zt3kb

Жыл бұрын

@@HeelanAssociates thanks for sharing some amazing informative posts so freely and with a genuine professional good will to all gesture, throughout the tromatic pandemic period and other times of common sense concerning issues, I live in North Wales and certainly wish my accountants were as proactive as yourselves, I've been self-employed since 1985 and with 60 on the horizon, many of others of a similar age are to be honest considering finishing early with the new government tax goes digital, and the very lack of understandable informative information, please could you post some guidance when yourselves become more informed of the situation. I feel quite cheeky and selfish asking, but your simple free from over professional wording is so understandable and informative. Many thanks for your posts. Mike Jones

Great video, very helpful 👍

@HeelanAssociates

Жыл бұрын

Glad it helped Gemma!

Hi Dan just wanted to say thanks for sharing such great content, I’ve learned so much from watching you and the videos you share. May I ask some follow up questions off the back of this video? 1) do you have a video on partnerships ? 2) can you tell me about your background? I’m looking at signing up to an AAT level 2 alongside my current job just to get a better understanding of basic accounting tax etc. Many thanks!

@HeelanAssociates

Жыл бұрын

Hi Stefan, We don't have a vid on partnerships actually, should probably do one.... These days they are pretty rare as often people end up forming LTD instead. Still have uses though. AAT is a great, as a qualification (by the time you've reached level 4) gives a great overall look at accounting and tax. Like all accounting qualifications though, they main type of stuff we talk about here isn't really taught outside the principles. Like what expenses can be deducted maybe taught in principle, but the detail is gained through attending courses and read read read and more reading! It's similar with the practical side of book-keeping - you will get taught the core principles of double entry book-keeping and trial balances, but actually how to book-keep using Xero/quickbooks etc and combo with tax rules is something picked up elsewhere! Good luck :- )

Only just found your channel and I love it! Great information on your videos. Am I correct in saying you can make £1k profit a year from an extra income (side hustle) tax free before you have to declare it? (I am also employed full time) Do I still need to register my small business if I am not yet making much money/nowhere near a profit yet? My small business is product based so I am spending a lot of my own money on products/inventory so nowhere near even breaking even. Thank you.

@HeelanAssociates

Жыл бұрын

Check this one out SELF EMPLOYED - YOUR FIRST £1000 IS TAX FREE! kzread.info/dash/bejne/fGyek6l6irWnhJM.html

Thank you for the video. From April 2024 sole traders need to submit digital tax returns in software every quarter? Is this an HMRC requirement? (And if so, link?)

@HeelanAssociates

Ай бұрын

It’s been moved to 2026 www.gov.uk/government/publications/extension-of-making-tax-digital-for-income-tax-self-assessment-to-sole-traders-and-landlords/making-tax-digital-for-income-tax-self-assessment-for-sole-traders-and-landlords

Hi, i just came across your video/channel, at a spookily uncanny time, and have to say, you spoke concisely and direct, clear and precise, bit i was wondering if you have a way to connect directly and if there was a way to find help from You personally?

@HeelanAssociates

11 ай бұрын

Hi you can reach out to my team at info@heelanassociates.co.uk Whether it’s something I’d advise directly on depends on the need/budget as my team are awesome.

@shamanicstates2745

11 ай бұрын

@@HeelanAssociates Thank you for your response, I will be in touch shortly with the team 👍

Hi Dan, If I transfer personal funds into my business account to purchase products. Is there anything specific I need to put the reference as? Kind Regards, Lauren

@HeelanAssociates

11 ай бұрын

ACCOUNTING FOR START UP MONEY (LTD) kzread.info/dash/bejne/gZiE16dtdtufiqQ.html for a limited ; if sole trade use ‘capital introduced’ is a good one

Hi, is the quarterly tax return only for VAT? As I'm slightly confused about the 9-month deadline and quarterly deceleration...

@HeelanAssociates

9 ай бұрын

Currently yes there are no quarterly returns for the 'direct' tax for a small business, like corporation tax and or the accounts. VAT is the most common quarterly return if you are registered.

👌🏾

@HeelanAssociates

Жыл бұрын

Glad you enjoyed

Dan, I’m a sole trader currently, however I read somewhere that if selling online (Big Cartel, Squarespace etc) you have to be VAT registered? Is this true?

@HeelanAssociates

Жыл бұрын

Normally you have the same registration threshold as anyone else in UK, presuming we are talking UK issues (£85,000).

Hello Dan, I was was having a problem lately and phone to HMRC didn't help (I was defeated by 40 minutes wait and guy who answered was Scottish). So basically I can't access my Gateaway ID account, because I can't prove that I am indeed myself. Guy told me that I can't do anything about it apparently, other than proving it with methods that don't work. So can is this inability of loging into my gateaway ID (I can still apply for self assesment with my data, just can't log into the account) going to hamper my self assesment at the end of the year? (I mean am I going to not be able to give my tax records online). Cheers and sorry for a long describtion.

@nigdymaofloty8732

Жыл бұрын

Nevermind, HMRC just digitaly excluded me

@HeelanAssociates

Жыл бұрын

Yes it would of been an issue but I see they ‘paper’d’ you 🥲

@HeelanAssociates

Жыл бұрын

It’s a real problem for some of Uk this.

@nigdymaofloty8732

Жыл бұрын

@@HeelanAssociates Yes. The way HMRC handles this and gives no information about any possible changes is even more frustrating. I really would appreciate some videos on doing tax through the paper. It's hard to find any good guide for 2020+ year

Have you got a video on buying existing businesses?

@HeelanAssociates

Жыл бұрын

We don’t at the mo, it’s quite a wide topic. Will add to the list maybe some top tips - anything particular you like to know?

@MrJeffHead

Жыл бұрын

@@HeelanAssociates thanks for the reply. How to value a company, best ways of due diligence, how much cash deposit needed in different situations / what to do to lower your own cash needed. Examples of how you could look to structure a deal, and generally how an accountant can help in the process and include at what point you may need other professionals and what they'll offer.

Can you comment on the HMRC cutting off hundreds of people from digital self assessment? Can we expect any video about paper tax returns? Me myself, I am forced to fill by post. I feel so anxious about it and hopeless, fucking HMRC

@HeelanAssociates

Жыл бұрын

It’s a real problem for many. Sadly we can’t really do a vid on the paper process because we’d effectively have to show you box by box and it’s too wide a topic to cover 🥲