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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.

New government start-up service takes off

8 January 2019

More than 200,000 business owners have already used a new one-stop government service allowing start-ups to register their company and register for tax at the same time.

The Streamlined Company Registration Service was set up last year in a collaboration between HMRC and Companies House. It is intended to ease administrative burdens on new businesses.

Now, when registering a new business, companies can also register for tax and HMRC's digital services, making it easier for start-ups to fulfil all their legal obligations in one go.

The change came into effect last year; it removes the need for businesses to send duplicate information to both Companies House and HMRC.

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Mel Stride MP, financial secretary to the Treasury, said: "Reducing the administrative burden on small businesses is all part of this government's commitment to support small business growth.

"HMRC and Companies House are working hard to make business registration and tax easier. Previously, the same information would need to be entered into a number of different platforms to register a company and register for tax. We have simplified that process."

Kelly Tolhurst, small business minister, said: "British small businesses, and the entrepreneurial spirit behind them, are the backbone of the UK economy employing over 16 million people up and down the country ? Anyone thinking of starting a new business in 2019 should check out the huge wealth of Government advice and support available, and go for it."

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