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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.


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.

HMRC extends self assessment window

7 January 2022

For the second year running, HMRC has announced an extension meaning anyone who cannot file their tax return by the 31 January 2022 deadline will not receive a late filing penalty providing they file online by 28 February.

12.2 million people are due to file their 2020-21 tax return by 31 January and almost 6.5 million have already done so. That said, HMRC has acknowledged the additional pressure COVID-19 is placing on taxpayers and their agents. They have announced a waiver that will give taxpayers more time to complete and file their tax return online before a penalty is issued.

Angela MacDonald, HMRC's Deputy Chief Executive and Second Permanent Secretary, said, "We know the pressures individuals and businesses are again facing this year, due to the impacts of COVID-19. Our decision to waive penalties for one month for self assessment taxpayers will give them extra time to meet their obligations without worrying about receiving a penalty."

HMRC has announced that:

  • anyone who cannot file their return by the 31 January deadline will not receive a late filing penalty providing they file online by 28 February
  • anyone who cannot pay the tax they owe by 31 January deadline will not receive a late payment penalty providing they pay their tax in full, or set up a Time to Pay arrangement, by 1 April

Despite the filing extension, HMRC have urged taxpayers to pay on time if possible, reminding them that the tax they owe is still due by 31 January - even if they have not yet filed their return. Interest will be charged from 1 February on any outstanding liabilities.

Help with payment problems

Taxpayers that are struggling to pay the tax they owe can set up a payment plan with HMRC using the Time to Pay service on the government website. Customers with bills over £30,000, or who need longer than 12 months to pay their bill, should call HMRC on 0300 200 3822.

Taxpayers can contact HMRC via webchat, Twitter, or the self assessment phone helpline (0300 200 3310). They can also find the information they need via the free HMRC app or their Personal Tax Account.

Written by Fiona Prior.

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