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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.

One in two small firms plans to change broadband supplier

7 December 2021

A new study has found that more than half of UK small businesses are planning to leave their current business broadband provider, as three-quarters say they have been impacted by slow broadband over the past year.

A new study conducted by Censuswide for Sky Connect has revealed that 51% of UK small businesses are likely to leave their current business broadband provider. This is despite the fact that 71% have invested in business broadband or adapted their business to improve their online service to customers over the past 12 months. Bad customer service, slow upload and download speeds as well as unreliable broadband connection were cited as the top reasons for leaving.

The study of SME connectivity has found that 77% of small businesses have been affected by slow broadband over the past year. The impact of unreliable business broadband can be huge, with inability to communicate with customers and suppliers (33%), hampered productivity (32%) and even losing customers (32%) cited as the biggest knock-on effects.

Recent analysis of Google Trends by Bionic has found that searches for terms like "internet down", "broadband down" and "downdetector" (the platform used to detect internet outages) have increased by +400% since 2015. On average, 2021 has had the most searches for internet and broadband outages on record.

Two-thirds of small businesses polled by Censuswide say they are planning to increase their investment in digital services such as broadband, broadband security and digital customer offerings, to support hybrid business models and cater to customer expectations. Nearly three-quarters say they are planning to invest in full fibre connectivity when it becomes available in their area - giving them a more reliable internet connection, faster and more consistent speeds and the ability to connect more devices.

Kevin O'Toole, managing director at Sky Connect, said "Broadband is not something businesses will - or should - be thinking about day-to-day, but it's noticeable as soon as it isn't up to standard, and can have damaging consequences. As SMEs continue to adapt to an increasingly digital world and deliver additional online services, more than ever before, broadband providers must prioritise reliability to enable small businesses to focus on what really matters to them."

Written by Rachel Miller.

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