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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.

Birmingham is UK's top city for small firms

10 April 2019

Red double-decker bus at the street of Birmingham, UKThe latest Small Business Index has identified the best European cities for enterprise based on SME population, business support and the affordability of premises.

Birmingham tops the poll in the UK, closely followed by Glasgow. These cities outperform London thanks to the availability of rent and retail space at a reasonable price.

The Small Business Index 2019 has been compiled by mobile payments platform SumUp. The study has found that high levels of external support and investment for small enterprises do not offset the cost of rising rent and real estate across Europe's major cities.

The Index has analysed the 100 most populous cities across Europe and ranked them according to four criteria: the amount and type of small businesses, SME density, real estate factors and the availability of external support.

Valencia and Madrid come in first and second place within Europe, followed by Vienna, Berlin, Barcelona and Warsaw. Nine cities in Germany are in the top thirty places in the ranking.

In the UK, Birmingham is at number one (and number ten in Europe) with its comparatively cheap rents and high levels of business investment while Glasgow is second in the UK thanks to the availability of rental spaces. Other UK cities ranked highly are: London, Liverpool, Edinburgh, Manchester, Leeds, Leicester, Bristol and Cardiff.

The key findings of the report include:

  • In the UK, Cardiff and Edinburgh have the highest density of small businesses;
  • London scores full marks for business support, with Manchester and Birmingham following closely behind;
  • Manchester has a high number of small businesses, particularly cafes and bars, despite a low availability of rental space and relatively high prices;
  • Overall, the availability and price of rent and real estate is consistently poor across the UK, with Birmingham and Glasgow the only exceptions.

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