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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.

Retailers get ready for Small Business Saturday 2021

30 November 2021

The Small Business Saturday campaign is calling on shoppers across the UK to support local small firms and independent retailers this Saturday 4 December.

The British public is being urged to get behind the nation's six million small businesses on Small Business Saturday (4 December) by getting out and spending on local high streets up and down the country.

Last year, Small Business Saturday achieved record-breaking success with an estimated £1.1 billion spent with small businesses across the UK on the day.

As small firms face another challenging winter, with rising costs and supply chain issues, the Small Business Saturday campaign is calling for a big show of public support to celebrate and recognise the contribution of small independents across their communities, especially after all their efforts during the pandemic.

"Small Business Saturday is a chance to get behind small businesses and say thank you for their vital contribution," said Michelle Ovens, director of Small Business Saturday UK.

"Small firms are at the absolute heart of our communities. We all know how much we rely on them - particularly over the last eighteen months - but we must show it too. While we're in a more positive place now, many small businesses are still struggling to get back on their feet, and are facing lots of new challenges. They still very much need our support."

The popularity of small businesses has grown through the pandemic, with over half (51%) of people in the UK saying they now back local independents more than previously, according to research by Small Business Saturday in conjunction with its principal supporter American Express.

Many small businesses take part in the day by hosting events, offering promotions and collaborating with local councils, community groups and business owners. Over 90% of local councils supported the campaign last year and Small Business Saturday trended at number one in the UK on Twitter.

Tim Rundle-Wood owner of natural scents shop Twoodle Co in London said: "Small Business Saturday is a really important campaign for small businesses and a fantastic opportunity for people across the country to show this support, and to continue to get behind their local independents on the day and beyond."

This year, a variety of local events are taking place to mark Small Business Saturday, including winter festivals and markets, Christmas light ceremonies and free parking in town centres. To get involved, visit the Small Business Saturday website.

Written by Rachel Miller.

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