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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.
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.
Tax calculators can be a useful tool for tax planning and cashflow forecasting. An income tax calculator, for example, can help you estimate future tax bills while a company car tax calculator can help you compare the tax impact of different company car choices.
The links below take you direct to the best calculators we've found online, many of which come from official sources such as HMRC and the Valuation Office and are continuously updated.
Income tax calculators aimed at employees can be used to calculate your own income tax if you are an employee of your own company, for example, and other employees’ income tax liabilities. Some income tax calculators also work out National Insurance contributions (NICs).
You should not use the income tax calculators above to assess your tax liability if you are self-employed. A self-employment income tax calculator needs to take into account the different NICs paid and allowable business expenses.
The HMRC self-assessment ready reckoner provides a simple calculation of income tax and Class 4 NICs. You can get a better picture of your future tax liabilities by completing your tax return online or taking advice from your accountant.
If you provide your services through a personal services company, you can assess the extra tax and NICs you may have to pay on dividend payments by following the step-by-step HMRC IR35-deemed payment guidance.
The HMRC company car tax calculator includes company car tax and car fuel benefit for employees. You will need to complete details such as emissions and list price.
This company car tax calculator will automatically complete all the details if you choose the car model and provide comprehensive tax details for the next three years. This simpler company car tax calculator, also based on entering the car model, can be used to check current and historic tax details.
Corporation tax calculations are generally complex, relying on detailed information about income and expenses. Various online tax calculators can help with simple guidance and estimates:
For a fuller assessment of your tax liability and payment amounts, you should take advice.
HMRC provides a range of calculators you can use when managing payroll deductions:
A simple VAT calculator can work out the amount of VAT you need to charge on standard-rated supplies.
This capital gains tax (CGT) calculator can help you estimate a potential CGT liability.
You can use the following guidance on the GOV.UK wesbite to estimate your business rates bill.
You can use the HMRC stamp duty land tax (SDLT) calculators to work out how much SDLT might be payable on a property purchase.
As with all the other calculators listed, you may want to take advice to get a full picture of your tax liabilities and the opportunities to minimise tax.