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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.

UK set to ditch cookie banners in GDPR shake-up

31 August 2021

The government is expected to get rid of some website cookies rules as it promises to scrap key parts of the EU's General Data Protection Regulation (GDPR), which came into force in 2018.

Culture secretary Oliver Dowden is expected to announce data regulation reforms which he has said will cut costs for businesses, boost innovation and drive growth, opportunities and jobs. In an interview with The Telegraph, he said the plans include getting rid of cookie pop-ups for most websites (with some exceptions), many of which he said were "pointless".

"There's an awful lot of needless bureaucracy and box ticking and actually we should be looking at how we can focus on protecting people's privacy but in as light a touch way as possible," he said.

Oliver Dowden has announced that John Edwards is the government's preferred candidate to be the next Information Commissioner. Edwards, who is currently the New Zealand Privacy Commissioner, is expected to shake up current data regulations and the government has said he would "go beyond the regulator's traditional role".

John Edwards said: "I look forward to the challenge of steering the organisation and the British economy into a position of international leadership in the safe and trusted use of data for the benefit of all."

The government has also said it will make new "data adequacy" partnerships that will make it easier for businesses to send people's personal data internationally. Data adequacy is about agreeing that data protections are similar in two countries so that personal information remains safe. The UK currently has a data adequacy agreement with the EU but that could change if UK data laws diverge too far from EU rules.

According to the government, billions of pounds worth of trade goes unrealised around the world due to barriers associated with data transfers. "Now that we have left the EU I'm determined to seize the opportunity by developing a world-leading data policy that will deliver a Brexit dividend for individuals and businesses across the UK," said Oliver Dowden. "It means reforming our own data laws so that they're based on common sense, not box-ticking."

Written by Rachel Miller.

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