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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 firms are struggling despite support schemes

4 May 2021

More than a quarter of UK SMEs say they need additional support from the government to stay afloat.

Hitachi Capital Invoice Finance has polled more than 1,000 senior business decision-makers at UK SMEs across a range of sectors, asking how the support from the government during the pandemic has impacted their business.

A third say their business would not have survived without state support. Even so, over a quarter (27%) of SMEs said they require additional government support in order to stay in business.

Businesses in the East Midlands (39%), Wales (37%) and Scotland (33%) were most in need of additional support, while SMEs in the North East of England required the least. More than half of senior decision-makers in the hospitality sector said they needed more state help in order to survive. Nearly a third of manufacturing businesses (30%) and retailers (29%) said the same.

Those sectors most in need of additional government support are:

  • Hospitality and leisure (54%);
  • Manufacturing (30%);
  • Retail (29%);
  • Marketing (27%);
  • Construction (25%).

The findings also show that 23% of those polled have had to let employees go as a result of the pandemic. Nearly a third of businesses in London and the South East have had to make redundancies because of coronavirus, more than any other region in the UK. Firms in Yorkshire (13%) saw the fewest number of redundancies as a result of the pandemic.

Meanwhile, the latest Quarterly Recruitment Outlook from the British Chambers of Commerce (BCC ) shows an increase in the percentage of firms expecting workforce growth.

The survey of over 5,900 UK businesses found that:

  • 27% of firms expect their workforce to grow in the next three months, up from 19% in Q4 2020;
  • The proportion of firms expecting a decrease in their workforce dropped from 14% to 9% between Q4 2020 and Q1 2021;
  • 40% of firms tried to recruit in Q1, down compared to the pre-pandemic 2019 average of 55%;
  • 63% of those who attempted to recruit reported difficulty finding staff.

However, the picture varies significantly by sector. Only 20% of hotels and catering firms tried to recruit in the first quarter of this year, while retail and wholesaling also lagged at 34%. On a more positive note, 50% of manufacturers and 54% of construction firms attempted to recruit in Q1.

Written by Rachel Miller.

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