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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.

Small Business Britain celebrates female entrepreneurs

6 September 2022

Women who run their own businesses across the UK are being encouraged to apply for a place in a line-up of Britain's 100 most impressive female entrepreneurs.

The f:Entrepreneur campaign, created by Small Business Britain, is opening applications for its prestigious #iAlso100 campaign, which spotlights 100 of the UK's most inspiring female entrepreneurs.

The campaign features a diverse line-up of 100 inspiring female business owners from all over the country and across a variety of sectors. It aims to recognise the growing tide of women running businesses while also juggling other roles and responsibilities.

Research conducted by the campaign for this year's International Women's Day found a strong entrepreneurial outlook amongst women, with 17% of women in the UK saying they are interested in starting their own businesses. Almost half (48%) of these were driven by a desire for more money, 46% wanted the freedom of being their own boss and 44% were keen to pursue a passion.

The f:Entrepreneur campaign aims to profile and grow this trend by spotlighting a diverse range of role models to inspire all would-be entrepreneurs. The businesses featured also demonstrate a commitment to championing diversity, inclusion and sustainability. Now in its fifth year, the campaign has grown year-on-year and attracted a record number of applications last year.

Each member of the #iAlso100 is showcased on the f:Entrepreneur website and across its social media platforms. There are exclusive monthly events for members to attend offering skills training, as well as networking through its large community network. There are also opportunities to host events and speak on panels across Small Business Britain's campaigns.

"Being an #iAlso 2022 winner has been the most valuable recognition for my business and most importantly for me as an entrepreneur," says Paulomi Debnath, owner of Handmade By Tinni.

"The team provides world-class business training and support for fellow winners. You never feel alone in the journey as you always belong to a loving and supportive community of fellow business owners. It has also opened doors to other opportunities related to my brand and resulted in business growth."

Michelle Ovens, founder of Small Business Britain, said: "Female entrepreneurs across the UK make a hugely powerful contribution to the economy, their communities and broader society, and they need greater recognition. With so many challenges out there for business owners it's vital that we celebrate these entrepreneurs doing great things and cheer them on.

"I'd encourage any woman running a small business in the UK today who has a great story to tell, to get involved and put yourself forward. The campaign brings some fantastic opportunities to raise your profile and share your views on the key issues impacting female business owners."

Applications for the f:Entrepreneur #iAlso100 are open until 30 September 2022 and it is free to enter via the f:Entrepreneur website.

Written by Rachel Miller.

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