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.

Pay rises for staff at two-thirds of small firms

15 May 2018

Pay rises for staff at two-thirds of small firmsThe proportion of small businesses that are increasing wages for their employees has hit a three-and-a-half year high.

The latest research by the Federation of Small Businesses (FSB) reveals that 66% of SMEs have increased salaries over the past year, the highest proportion since Q4 2014.

Also at a three-and-a-half year high is the share of small business owners awarding pay increases of 2% or more (50%). A quarter (25%) have increased pay by 4% or more. Eight in ten (79%) small firms say they have maintained or increased headcounts over the past three months.

Mike Cherry, FSB national chairman, said: "Small firms are playing a critical role in keeping our jobs market buoyant. It's great to see that such a big proportion are in a position to take on more staff and up pay levels."

The latest data from the Office for National Statistics (ONS) shows that wages rose faster than inflation in the three months to March. Wages rose at an annual rate of 2.9% in Q1 2018 while the inflation rate was 2.7% over the same period.

However, the figures also show that there has been a decline in productivity. Suren Thiru, head of economics at the British Chambers of Commerce (BCC), said: "The decline in UK productivity in the first quarter is a clear warning sign that positive real wage growth should not be taken for granted. While businesses are reporting some upward pressure on pay, sluggish productivity and high upfront business costs are restricting the extent to which wages are able to rise."

He added: "The persistent weakness in UK productivity reflects the long-standing structural problems in our economy - from a chronic skills shortage, to our creaking infrastructure and the escalating cost of doing business in the UK. Delivering solutions to these key business concerns would help boost investment and drive the productivity gains we need to boost the UK's long-term growth potential."

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