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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.

New IR35 tax rules are coming but are businesses ready?

12 January 2021

A survey has found that more than half of UK firms that hire independent contractors have yet to prepare for new off-payroll tax rules that will come into effect in a matter of weeks.

New IR35 off-payroll rules affecting contractors are due to be introduced in April 2021 in the private sector. Firms that employ contractors must use the government's CEST tool to determine whether or not contractors are "inside IR35" for tax purposes.

However, a new poll of more than 3,000 contractors, conducted by IR35 Shield, suggests that many firms are not ready for the changes. The findings show that 52% of in-work contractors have yet to be assessed for IR35.

Worryingly, fears around non-compliance have prompted as many as one in four firms to introduce blanket bans on using contractors. Only 32% of contractors are confident that they will remain with their current client after April 2021 and 57% said at least half of contractors are likely to leave their client due to IR35.

At present, the findings show that 52% of firms are using HMRC's CEST tool, but 41% of contractors said they will dispute an "inside IR35" result. Three-quarters of those polled said the CEST tool was inaccurate. In addition, 65% of contractors say they will avoid "inside IR35" contracts altogether.

Many hiring firms and agencies have sought to get around their compliance requirements by offering contractors alternative engagement models. However, although 62% of those polled said they had been offered the chance to trade via an umbrella company, only 8% said they are happy to do so and 61% said they would not apply for an "umbrella only" contract.

Since April 2020, agencies have been legally required to provide each worker with a Key Information Document (KID) but the findings show that 86% of contractors weren't provided with a Key Information Document for their last contract and 67% of respondents were not even aware of what a KID is.

Dave Chaplin, ceo of IR35 Shield said: "We have just a few months until off-payroll takes effect in the private sector and it seems that half of the market is leaving compliance until the very last minute. This is likely to cause some severe repercussions for hirers and contractors.

"Blanket bans on limited companies are an expensive way for firms to hire less talented professionals, whilst handing a competitive edge to their competition. Firms need to realise that if they apply best practice and with the correct contracts in place, they can continue to hire the best contractors with confidence."

Written by Rachel Miller.

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