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.

Demand for British goods and services hits new high

11 July 2018

Demand for British goods and services hits new highThe latest Government trade figures show that exports reached a record high of £620 billion in the year to May 2018.

UK exports to the world rose by £30 billion - an increase of 5.2% compared to the same time last year, according to the Office for National Statistics (ONS).

Exports in the service sector were up 3.1% to a record high of £279 billion; goods exports rose by 6.9% to £341 billion.

ONS figures also show that UK exports grew faster to Canada (up 12.7%), India (31.8%) and China (15.3%) than to the EU (10%). Non-EU countries remain the main destination for UK services, making up 60.4% of all services exports.

Edwin Morgan, director of policy at the Institute of Directors (IoD), said: "There is huge potential in this country to raise our game on trade. Two-thirds of IoD members already export, showing we can create the products and services the world wants, and if we could only slightly increase the proportion of firms overall who trade the gains could be enormous.

"The good news is that there are steps we can be taking now to encourage exporters to increase sales, and help more companies take that first leap into international markets."

However, a new study by the Association of Chartered Certified Accountants (ACCA) has concluded that more needs to be done to encourage the 26% of UK small businesses that currently do not trade overseas. Its findings show that almost half (46%) of UK SMEs say more information and support would encourage them to participate in international trade.

The ACCA report, Growing Globally, has identified the most significant barriers preventing UK SMEs from participating in international trade. These are: knowledge and understanding of foreign regulations (45%) and foreign customs duties/tariffs (30%). Identifying customers in international markets (26%) and foreign exchange (26%) also represent significant challenges for small businesses.

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"Internationalisation can potentially bring a range of growth benefits for both a small business and the broader economy, whilst also driving productivity," said Ben Baruch, head of SME policy at ACCA. "However, it is clear that more can be done to support UK small business, with more than a quarter not participating at all in international trade, and only two-thirds (69%) intending to increase their international trade activities in the coming years - a low percentage compared to other countries like Ireland (84%), Malaysia (77%) and Singapore (76%)."

The ACCA report offers guidance to SMEs on ways to expand their international capability, including embracing cloud technologies, developing the scalability of the finance function, creating a business strategy with global ambitions and identifying relevant resources.

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