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We're here with practical tax information for your business. Find out about business taxes, tax planning and more.


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.


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 family firms "doing the most to protect jobs"

15 September 2020

As redundancy levels soar, new research has found that the UK's small family businesses are least likely to have laid off staff during the pandemic.

A study by Hitachi Capital Business Finance has found that less than one in two UK small business owners (46%) expect to have made staff redundant by the end of 2020.

Family firms are least likely to reduce their headcount, it seems, with 57% saying they will continue to employee all their staff. In fact, these family-run firms are more likely than the average small business to have:

  • Given bonuses to their staff during lockdown (13%);
  • Initiated one-to-one pastoral calls to support staff member wellbeing (12%);
  • Committed to improved sick pay for those isolating or suffering COVID-19 symptoms (15%).

Beyond supporting staff, family business owners are also more likely than the average small business owner to have taken a personal pay cut (24%) or asked their staff to work fewer hours a week (27%) in order to protect staff numbers as a whole.

The level of commitment from family businesses to protect jobs mean that they anticipate lower levels of job cuts by the end of the year - at just 7%. Even so, the findings also show that family business owners reported a steep decline in turnover for the year - a fall of 34% compared to a national average of 30%.

In addition, family business owners said they were in need of more funding to grow their business in 2021 - an average requirement of £69,000 compared to a small business average of £60,000.

Jo Morris, head of insight at Hitachi Capital Business Finance, said: "To some, family businesses conjure up images of tradition, heritage and community such as the local store in TV's Open All Hours. Whilst family businesses may have more traditional values and outlook, our research suggests that caring and looking after people is often at the heart of their business. And this bodes well during a time of unprecedented economic uncertainty. Despite the greater challenges that family businesses have in adapting their businesses and in seeking finance, many have worked extremely hard since lockdown to avoid the painful process of letting people go."

Written by Rachel Miller.

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