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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 roadshow goes online

6 October 2020

Small firms across the UK are being offered a new package of support and mentoring as Small Business Saturday launches the UK's first online roadshow for towns and cities affected by the pandemic.

Small Business Saturday takes place on 5 December 2020. Now in its eighth year in the UK, the annual event celebrates small business success and encourages consumers to "shop local" and support businesses in their communities.

Due to the coronavirus pandemic, this year's online roadshow will temporarily replace the Small Business Saturday UK bus tour which has been running since the campaign began.

Starting on 2 November 2020, the tour will include daily "virtual visits" to small businesses and communities in over thirty locations around the UK, offering a programme of locally-targeted online advice, workshops and mentoring.

The campaign's aim is to support, encourage and uplift small businesses across the country that are facing the challenge of a second wave of COVID-19 restrictions.

The tour will visit cities such as Manchester, Edinburgh, London and Cardiff as well as rural communities such as Pateley Bridge in Yorkshire and Bodmin in Cornwall.

"This year has been incredibly tough for small businesses - financially, operationally, mentally and emotionally," said Michelle Ovens, director of Small Business Saturday UK (pictured). "This means our mission to support and celebrate small businesses across the UK becomes even more vital and ambitious.

"While we're obviously sad not to be visiting small businesses on the ground, we are excited to use online to reach more people than ever, and bring small businesses and their communities a tremendously useful package of support. This is all part of our promise to make this year's Small Business Saturday the best and most important one yet."

The online roadshow will include free virtual mentoring advice on a range of topics, from digital marketing to time and money management. Live interviews and workshops with local businesses, experts and supporters of the campaign will be streamed via Small Business Saturday UK's Facebook page.

Small business owners can also book virtual one-to-one mentoring sessions with local experts via the My Business Section on the Small Business Saturday website.

Written by Rachel Miller.

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