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

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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.

News

November 2020

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Chancellor of the exchequer Rishi Sunak has set out his plans in a Spending Review that aims to "protect lives and livelihoods" as the pandemic continues to take its toll.

New research suggests that Black Friday 2020 could be the busiest ever as online sales continue to soar.

Independent retailers are breathing a sigh of relief as the government's COVID Winter Plan allows them to reopen ahead of Christmas but there are challenges ahead for bars and restaurants.

A new collaboration between Yell and Amazon means that millions of small businesses can now be found using Alexa; and a start-up is offering grants to help SMEs make TV ads.

Brighton tops the list of the best places to start a side business as it emerges that website domain name registrations for new businesses soared during the last lockdown.

As the 2021 self assessment deadline approaches, there are increasing reports of fake emails, texts and phone calls purporting to be from HMRC.

The real Living Wage hourly rates for 2020/21 have been increased, widening the gap between this voluntary wage rate and the government's statutory minimum wage rates.

After two decades of growth in UK self-employment, a new study by the London School of Economics has found that one in five freelancers consider it likely that they'll leave self-employment as a result of the coronavirus crisis.

Workers on furlough will now get 80% of their income paid by the government until the end of March 2021; support for the self-employed has also been increased.

New research has found that coronavirus lockdowns have boosted the nation's loyalty to small businesses, with 59% of Brits saying they now support local businesses more than previously.

The government has made the third instalment of the Self-Employment Income Support Scheme more generous for November but business groups are warning that many freelancers are still falling through the cracks.

If bank branches continue to close at their current rate there will be none left by April 2032, according to a new study of the retail banking sector.