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

Search

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.

Self assessment online

Registering for self assessment and filing self assessment returns online is generally the fastest and easiest way to deal with self assessment. It also gives you online access to your personal tax account, and other business taxes as well if you are self-employed.

Registering for self assessment online

There are different ways to register for self assessment online, depending on whether you are self-employed and whether you have already registered for self assessment.

If you have completed a self assessment tax return before, you will need to find your tax reference number (UTR). This should be on any tax returns and other paperwork that HM Revenue & Customs sent you.

You can also register for online services if:

  • you are already registered for self assessment, but now want to file online instead of using paper returns;
  • you don't need to file self assessment returns, but want to be able to use your online personal tax account;
  • you want to use other HMRC online services (for example, other business taxes).

To get an online account, you will need a secure online ID and password. You may already have one (for example, if you are self-employed and have registered for VAT). If not, this will be created as part of registering.

Your personal tax account

Registering for self assessment online automatically gives you a personal tax account. You can use this for tasks like:

  • completing your self assessment tax return;
  • checking your PAYE tax code and estimated tax bill;
  • giving HMRC updated information like a change of address;
  • managing tax credits.

If you are self-employed, you can also use your HMRC online login to sign in to your business tax account. This includes the key business taxes that need to be managed online, like VAT and PAYE.

Self assessment online help

There is a range of HMRC help with self assessment. You can

If you have want to discuss your personal tax affairs, or prefer to get phone advice, contact the HMRC self assessment helpline (0300 200 3310).

If you cannot get the help you need from HMRC, other sources of support include:

Making Tax Digital

The government is gradually moving towards a new tax system using digital records, Making Tax Digital.

Making Tax Digital will allow information to be sent directly to HMRC using software, rather than needing to complete a self assessment return. This should make things easier and quicker, and reduce the risk of mistakes.

Making Tax Digital started with VAT for businesses in April 2019. VAT-registered businesses are now required to use the service to file their VAT returns.

Making Tax Digital for income tax is also being trialled for the self-employed and landlords. You can join the Making Tax Digital pilot for income tax if you wish. The Government has postponed the implementation of MTD for the purposes of income tax until April 2026 and will be phased in beginning with those with an annual income over £50,000.

You can find out more with HMRC's help and support for Making Tax Digital.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.