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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.

Employees to get new flexible working rights

6 December 2022

Millions of Britons will be able to request flexible working on day one of their employment under new government plans to make flexible working the default.

The government is introducing a new day-one right to request flexible working, empowering workers to have a greater say over when, where and how they work. It removes the 26-week qualifying period before employees can request flexible working.

Describing the move as a "no-brainer", minister for small business Kevin Hollinrake has set out the business case for flexible working including higher productivity, improved employee wellbeing, better staff retention and more inclusivity.

Flexible working includes job-sharing, flexitime, and working compressed, annualised or staggered hours, as well as working from home. Kevin Hollinrake said: "Giving staff more say over their working pattern makes for happier employees and more productive businesses. Put simply, it's a no-brainer."

Exclusivity clauses

At the same time, the government has announced that it is removing exclusivity clause restrictions, allowing around 1.5 million low paid workers to work for multiple employers if they wish. Workers on contracts with a guaranteed weekly income on or below the Lower Earnings Limit of £123 a week will now be protected from exclusivity clauses being enforced against them.

The government has said that "while not everyone will want a second job, today's laws on exclusivity clauses remove unnecessary red tape that prevents those who do - for example gig economy workers, younger people or carers who cannot commit to a full-time role. The laws will also help businesses plug crucial staffing gaps by giving employers access to recruit from a wider talent pool."

New flexible working rules welcomed by CIPD

Peter Cheese, chief executive of the CIPD, the professional body for HR and people development, said the change would "help create fairer, more inclusive workplaces and improve access to flexible jobs for many people. Older workers, those with caring responsibilities and people with health conditions are among those who will particularly benefit.

"This new right will help normalise conversations about flexibility at the start of the employment relationship, with significant benefits for employees in terms of wellbeing and work-life balance. Just as importantly, it will also enable organisations to attract and retain a more diverse workforce and help boost their productivity and agility."

The flexibility paradox

Heejung Chung, professor of sociology and social policy at the University of Kent and author of The Flexibility Paradox, said the new rules would not be enough to make flexible working a norm for all workers. She said: "To ensure that workers are truly able to access flexible working arrangements, we need to tackle the flexibility stigma still rampant in the UK. The flexibility stigma is the cultural belief that flexible workers are somehow less productive, motivated and committed compared to those who do not work flexibly."

She added: "In my recent study I show that about one-third of workers in the UK think that flexible workers make more work for others and that it leads to negative career outcomes." However, Chung's research shows that many flexible workers face a "flexibility paradox" where they end up working "harder and longer".

Written by Rachel Miller.

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