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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.

SME employees expected to work on holiday

9 July 2019

Employee working while on holidayThree in ten SME employees will work at least once a day during their summer holiday, according to new research.

An online survey of 1,000 employees working in UK small businesses was conducted by TLF Research for Process Bliss. The findings show that more than two-thirds (67%) of those polled said they will work at some stage during their summer holidays.

A minority (8%) said they would have to work multiple times each day. The findings highlight changing expectations in the workplace, with 45% of SME employees saying that their clients expect them to be available during their summer holiday and 41% saying that their boss expects them to be available.

"While working during the summer holidays might sound horrific to some people, working patterns and habits have changed and in 2019 people don't all feel the need for a complete break," said Alister Esam, ceo of Process Bliss.

"That said, many people still want and deserve a complete break from work and if they are working because they don't trust others to get work done or that they believe things will be missed without them, then that is unacceptable and needs to be addressed."

The main reasons given by SME employees for working while on holiday are:

  • They can't relax without knowing things are being done (36%);
  • They feel they are being conscientious (28%);
  • They worry that something important will be missed (24%);
  • They don't trust colleagues to keep on top of everything (16%);
  • The think they are the only one who can do their job (13%).

In addition, 10% of employees polled admitted that they use work as an excuse to get away from their family and 7% said they work because they get bored on holiday.

Of those that work during their holidays, 67% will check email, 34% will call the office for updates, 28% will have direct contact with customers or suppliers and 17% will tackle reports or other written work.

"No-one should ever be expected to work during holidays, or feel that the SME they work for cannot manage for a few weeks without them," added Esam.

"There's also a clear difference between a few quicks checks on email and spending every day of a holiday working. SMEs need to put in place better training programmes to ensure people can take a full break, or establish proper processes for tasks and roles so others in the organisation can follow those and ensure everything gets done as it should do."

Written by Rachel Miller.

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