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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.

Fully-funded Skills Bootcamps available to sole traders and small firms

23 September 2024

Sole traders, freelancers and small business owners are being offered the chance to master the fundamentals of digital marketing alongside other business owners on a fully-funded Skills Bootcamp

The Digital Marketing Skills Bootcamps from Fareport allow individuals in England to gain specific skills relevant to a range of different sectors.

Each course equips small business owners and sole traders with the digital marketing skills to grow their business or side hustle, or develop the knowledge to run their marketing in house.

What are Skills Bootcamps?

Skills Bootcamps are short (lasting up to 16 weeks), Government-funded courses structured to help sole traders and small businesses achieve their professional goals with essential industry-specific skills.

Skills Bootcamps are available on a range of subjects from digital marketing to project management. Each practical bootcamp equips individuals with the skills and knowledge to succeed in the modern workforce.

If you’re looking to develop new skills for your existing role, acquire new skills to help you transition into a new career, or learn new skills that can help you run your own business, a Skills Bootcamp could be just what you’re looking for.

Why opt for a Skills Bootcamp?

Completing a Skills Bootcamp can turbo-charge your career by helping you bridge the gap between your existing skills and those you need in the modern workplace.

“I found the Fareport Digital Marketing Bootcamp course thoroughly engaging and highly informative. I feel more confident in the progression of my shop and feel inspired rather than disillusioned which is what I was becoming with my shop.” Tiffany Millington, Etsy shop owner

Each Skills Bootcamp course is structured in a way that allows you to fit the learning alongside your other commitments. You can:

  • learn from anywhere with live online group training (Bootcamp class sizes can be 50-100 people, however, Fareport’s typically only have 12 participants, so there’s plenty of time for questions)
  • get to know other small business owners facing similar challenges
  • take away practical tips, tools and ideas to improve your skills and business

How are Skills Bootcamps paid for?

Supported by the Government (DfE), the Skills Bootcamps from Fareport are designed to boost your career without financial stress. The level of funding depends on the size of your business:

  • qualifying sole traders, freelancers and business owners without employees are likely to receive full funding from the Government (DfE)
  • qualifying small and medium employers with less than 250 employees contribute 10% of the cost per employee, with the remaining 90% funded by the Government (DfE)

You can join one bootcamp per funding year (1 April to 31 March).

Do I qualify for a fully-funded Skills Bootcamp?

To be eligible for Fareport’s fully-funded Digital Marketing Skills Bootcamp (worth around £3,000), you must be:

  • living in England
  • aged 19 years or above on 31 August 2024
  • have the legal right to work in the UK
  • have maintained UK residency for the last 3 years
  • a sole trader, freelancer or business owner without any employees
  • have not started a Skills Bootcamp in the last 12 months

If you meet these criteria, you could qualify for the fully-funded Skills Bootcamp course.

Starting soon - Digital Marketing Skills Bootcamp

The next Digital Marketing Skills Bootcamps from Fareport are starting on Wednesday 9 October and Tuesday 15 October. Over 14 weeks, you can learn the fundamentals of digital marketing including audience definition, branding, content creation, SEO, PPC and email marketing. You can also develop your soft skills including presentation skills, stress management and time management.

You can register your interest today.

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