We're here with practical tax information for your business. Find out about business taxes, tax planning and more.

We've scoured the web to get you the most up-to-date advice which includes the most useful tools on offer from the officials themselves.

Effective tax planning is essential if you are to minimise your tax bills. Simple tax planning can significantly reduce your tax liabilities.

The self-assessment tax return is an unavoidable burden if you are liable for self-employed tax or have complicated income tax affairs.

Corporation tax is charged on a company's profits. If you trade as a limited company, ensure that paying this tax is as painless as possible.

National Insurance Contributions (NICs) are payable whether you are self-employed or employed by your own company, although different rates apply.

As well as your legal obligations, you’ll want to ensure that payroll is painless and that you use any opportunities to improve your tax-efficiency.

VAT

Effective VAT planning aims to ensure that VAT is relatively painless, and that you are reclaiming as much as possible of the VAT you pay.

Capital gains are made when you sell something for more money than you paid for it. As a result, you can be subject to tax. Take professional advice.

Business property taxes apply to businesses with commercial premises.There are two commercial property taxes: business rates and stamp duty land tax.

Many small businesses look to international trade when they can’t increase sales at home, while some sell exclusively to customers overseas.

The main UK business taxes include tax on profits, National Insurance contributions, business rates and so on. We have chosen the best tools to help.

If you have tax problems or face a tax investigation, it pays to seek professional advice and you must act rather than just hoping for the best.

22,400 minimum wage workers get millions in back pay

10 July 2018

22,400 minimum wage workers get millions in back payThe Government has published the names of 239 employers found to have underpaid 22,400 UK workers by a total of £1.44 million.

The employers were fined an additional £1.97 million for underpaying the National Living and Minimum Wage (NMW). The earliest underpayment dated back to 2011.

Business minister Andrew Griffiths said: "Our priority is making sure workers know their rights and are getting the pay they worked hard for. Employers who don't do the right thing face fines as well as being hit with the bill for back pay.

"The UK's lowest paid workers have had the fastest wage growth in 20 years thanks to the introduction of the National Living Wage and today's list serves as a reminder to all employers to check they are getting their workers' pay right."

The top five reasons for NMW and Living Wage underpayments were:

  • Taking deductions from wages for costs such as uniforms;
  • Underpaying apprentices;
  • Failing to pay travel time;
  • Misusing the accommodation offset;
  • Using the wrong time periods for calculating pay.

Bryan Sanderson, chairman of the Low Pay Commission, said: "It is … encouraging to see that HMRC has recovered unpaid wages for the largest number of workers yet in this round of naming and shaming. I'm confident that the Government will continue to pursue underpayment of the minimum wage vigorously."

Funding for minimum wage enforcement has more than doubled since 2015, with the Government set to spend £26.3m in 2018/19. Employers who pay workers less than the minimum wage have to pay back arrears of wages to the worker at current minimum wage rates and face financial penalties of up to 200% of arrears, capped at £20,000 per worker.

The Government is running a campaign to raise awareness of the National Living Wage and National Minimum Wage rates, which increased on 1 April 2018, as well as encouraging workers who have been underpaid to complain to HMRC.

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