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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.

Revealed: best UK cities for women to start a business

13 April 2021

A new study has identified the UK cities where women have the best chance of starting a successful business.

Payments provider Dojo has analysed data from the past year to find the best UK cities for starting a business and specifically those places that give female entrepreneurs the best chance of success.

York is the best city in the UK for female entrepreneurs according to the research, closely followed by Wakefield, Stoke-on-Trent and Sunderland.

The study has focused on six key metrics in order to identify cities with the best working conditions for women to start a business: five-year business survival rates, the cost of living, average weekly pay, the number of female employees, the number of female business owners and the gender pay gap.

The findings show that the ten best cities overall for women business owners are: York, Wakefield, Stoke-on-Trent, Sunderland, Wolverhampton, Southampton, Plymouth, Perth, Hereford and Peterborough.

York takes the top spot, with 9% of female bosses and 66% of women in work. It has the third highest five-year business survival rate at 48% and several women-only networking groups such as York Women Mean Business.

In second place, Wakefield has 5% of female bosses and 66% of women are in work. It scored second place in both categories of the best places to start a business as a woman and the best place to start a business overall. Like York, the city has several networking opportunities for women, including Wakefield Women's Business Club.

Written by Rachel Miller.

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