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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 Saturday launches mentoring campaign

10 October 2023

Small businesses across the country are being invited to sign up for a series of free online workshops and one-to-one mentoring, as the Small Business Saturday campaign enters its second decade in the UK.

Small business owners across the country are being encouraged to sign up for a programme of free virtual workshops and one-to-one mentoring taking place this autumn, organised by Small Business Saturday. The events, supported by BT Skills for Tomorrow, are being run alongside a nationwide roadshow tour as part of the countdown to Small Business Saturday on 2 December.

Small businesses from anywhere in the UK can sign up for over 20 workshops by leading experts on a range of useful topics, including:

  • Sustainability for small businesses;
  • Converting more online sales;
  • Mastering the art of storytelling;
  • Mindset hacks for running your own business;
  • Business planning;
  • Diversity, equity and inclusion guidance.

The workshops will be held between Monday 30 October and Wednesday 29 November. Free one-to-one online coaching sessions with experienced business mentors will also be available. Those attending at least ten workshops will be rewarded with a Christmas gift, a JustBe Botanicals bath set.

Small Business Saturday roadshow

The Small Business Saturday Tour will also be travelling to 23 UK locations to meet and profile small businesses from 30 October. Entrepreneurs will have the opportunity to tell their stories and network on Small Business Saturday's social media channels. There will also be a weekly Small Business Happy Hour, featuring giveaways from local businesses.

"Small Business Saturday has supported the UK's entrepreneurs for over a decade," said Michelle Ovens, director of Small Business Saturday UK. "This year's programme will really help small businesses as they tackle huge challenges due to the cost-of-living crisis, and encourage a more optimistic look to the future."

Small Business Saturday celebrates small business success and encourages consumers to "shop local". The campaign, now in its 11th year, will take place on 2 December 2023, with backing from principal supporter American Express.

"Small Business Saturday is a fantastic initiative that empowers entrepreneurs to tackle the biggest challenges they are facing today. This year, small businesses can access specialist mentoring and support, giving them tailored guidance on issues ranging from effective marketing to cyber security. As the tour enters its second decade, we are proud to be partnering with Small Business Saturday on this initiative again through our Skills for Tomorrow program, which has helped over one million entrepreneurs grow their small businesses with free digital skills training." Chris Sims, BT managing director for small and medium business.

Small firms can book a place on the workshops on the Small Business Saturday website. Mentoring slots can be booked via the My Small Business section of the website.

Written by Rachel Miller.

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