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.

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.

UK workers want help with financial planning

10 October 2018

UK workers want help with financial planningOver half of UK employees say they would like their employers to help them with financial planning, according to new research.

The survey, conducted by Neyber, has found that younger staff in particular are keen to get more support from the businesses they work for. Over 72% of 18-34 year-olds said they would value financial planning information and help; overall, 55% of workers said they wanted more support.

The findings of the study show that:

  • 18% of employees are not saving any of their monthly salary;
  • 34% have a month or less salary saved;
  • Only 4% of people are currently saving in a workplace ISA.

"In the past, many businesses have been reluctant to get involved with financial education for employees - due to concerns this could be seen as intrusive or unwelcome," said Heidi Allan, head of employee wellbeing at Neyber.

"What our research clearly shows is that most people want more help. Employers need to stop thinking of employees' finances as a taboo subject and look at new ways to guide them - whether that's providing information, education or products and services which help staff manage their finances."

Helping employees better manage their finances is a win-win for businesses, the report concludes. Worries about money can lead to mental health issues for employees and extended absences from work.

Allan said: "Businesses must support their staff and help them on the savings journey, or risk a workforce that suffers from financial stress, leading to high levels of absences and lower productivity. It's not just the right thing to help employees manage their finances, it is critical for business success too."

Financial solutions are among the employment benefits most valued by employees, especially pensions (72%) and insurance policies (47%). Support and guidance (47%), share plans (38%) and financial education (36%) are also valued by staff.

"As the primary source of income, employers are in a great position to reinforce the importance of regular saving, through financial education and providing support to help employees choose the right products for their needs," said Allan.

"Clear communication and easy access to financial advice and products play a huge part in achieving engagement. This allows employees to make smart, well informed decisions about what is right for them and their loved ones."

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