Eligibility & Overview

• Does the Toolkit offer a Profit and Loss (P&L) statement?
• What is the Business Toolkit?
• As a sole trader, am I eligible for the Business Toolkit?
• I have several Sole Trader accounts, does the Toolkit work across all of them?
• Which VAT schemes does the Business Toolkit support?

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Subscription

• I signed up to the Business Toolkit before 31st July 2020 and am on the 3 month free trial period, when will I get billed for the Business Toolkit?
• I’m an existing customer. How do I subscribe to the Toolkit?
• What does it cost to subscribe to the Business Toolkit?
• When will I get billed for the Business Toolkit?
• How can I cancel my subscription?

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Business Spending Categories

• How do the business spending categories influence my tax and VAT estimates?
• What are the new business spending categories?
• How do I use the new business spending categories?
• Will my old transactions be updated automatically to the new business spending categories?
• Will I still be able to assign one of the old categories to a historical transaction?

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Invoicing

• What does this feature allow me to do?
• How do I create an invoice?
• How do I send the invoice to my customer?
• Can I set the invoice number myself?
• Can I set my own payment terms?

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Tax

• I’ve bought a business car, how do I claim capital allowances for it in my tax estimation?
• What is the sole trader tax estimation section in the Toolkit?
• What sort of businesses is the sole trader tax estimation tool suitable for?
• How do I know which accounting method I am using?
• Is there a tax estimation tool available for Limited companies?

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VAT

• How does the allowable tax amount affect my VAT?
• If I connect to my HMRC account through Starling, does this affect any of my other HMRC integrations elsewhere?
• How do I manage my VAT using the Toolkit?
• How do I record my VAT on transactions?
• What VAT schemes does this feature support?

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Bookkeeping

• What does the Bookkeeping feature allow me to do?
• What do the purple and red warning symbols mean?
• How do I see which transactions haven’t been reconciled (‘completed’)?
• How do I move a transaction to ‘completed’?
• Why can’t I add VAT and tax to some transactions, or match the transaction to an invoice?

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Bills to Pay

• What does `Bills to Pay` allow me to do?
• How do I upload and schedule a bill payment?
• What file formats can I upload?
• What do I do if I upload the wrong bill?
• What is the ‘Payment amount’?

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