Small Business Tax

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Business groups urge Chancellor to stop abolition of Capital Gains Tax taper relief
[October 15, 2007] The UK's four main business groups have united to write an open letter to the Chancellor, urging him to suspend proposals in his Pre-Budget Report to abolish Capital Gains Tax taper relief.

Corporation Tax - What it is and how it applies to your company
[October 15, 2007] Corporation Tax is essentially a tax on your company’s profits. You have to work out your own tax liability, pay that tax, and ensure you deliver all required information to HMRC on time.

HMRC proposes new Annual Investment Allowance (AIA) for businesses
[October 4, 2007] HMRC are proposing a change to the way in which purchases of plant and equipment are written off for tax purposes. The change is likely to be introduced for companies on 1 April 2008, and for sole traders and partnerships 6 April 2008.

Business tax system needs to be simplified
[October 3, 2007] New research shows that, although awareness levels of business tax reliefs and incentives have increased in recent years, the need for simplification of the tax system is very real.

Bookkeeping - Keeping on top of your company accounts
[August 20, 2007] Accurate bookkeeping is a necessary evil when you run your own business. Here are some essential tips to keep your accounts accurate and up-to-date.

PAYE - Overview of Pay as You Earn scheme
[August 13, 2007] An overview of PAYE (Pay as You Earn) - the familiar scheme operated by HM Revenue & Customs to take income tax from employees as they earn it

Business Expenses - Overview for Small Businesses
[June 5, 2007] Business Expenses - what you can claim. Overview of allowable and non-allowable expenses, capital allowances, travel, P11D, working from home and overnight allowances.

Corporation Tax - An Overview for UK Businesses
[May 23, 2007] Corporation Tax is a tax on limited companies' taxable income or profits. An overview of how to register with the Inland Revenue, and how Corporation tax is calculated.

Many businesses unaware of May 19 tax return deadline
[May 18, 2007] Almost a third of businesses in the UK are unaware of the May 19th deadline for submitting their payroll year end tax returns.

Employers: Beat the deadline and file now
[May 14, 2007] Employers who haven’t yet filed their 2006-07 Annual Return need to do so by 19 May.

Key Accounting Dates for Small Businesses
[April 27, 2007] Key small business tax accounting dates - including NIC, PAYE payments and Inland Revenue personal tax return deadlines

Overseas tax 'amnesty' not what it seems
[April 20, 2007] HMRC's decision to offer an 'Offshore Disclosure Facility' rather than an 'overseas tax amnesty' will ring warning bells for those business owners with money held overseas.

HMRC launch podcasts to help employers complete Annual Returns
[April 17, 2007] The deadline for employers to file their end-of-year returns with HMRC is fast approaching. This year employers can find help on completing their annual returns with a newly-launched podcast.

File PAYE return online and receive £150 tax free
[April 12, 2007] HMRC is reminding 1.7 million small employers to send their 2006-07 PAYE End of Year returns online to receive a £150 tax-free payment

Good Friday - Good pay guidance
[April 2, 2007] HM Revenue & Customs has cleared up the confusion over the operation of PAYE and National Insurance Contributions where pay is due on Good Friday, 6th April 2007.

Tax change hits funding for high risk start-ups
[March 8, 2007] Smaller ventures in high-risk industries, which rely on start-up funding from individual wealthy investors, are likely to be hit by an immediate change to the tax regime.

As Budget 2007 date announced, Brown nets highest income tax haul on record
[February 23, 2007] Gordon Brown's next (and perhaps final) Budget will be let loose on the country on March 21st, the Treasury announced yesterday.

Tax man employs 'DataDetective' to track online traders
[February 22, 2007] Online traders could have their transactions automatically flagged to the Inland Revenue by XENON, a new Super Computer that scans the web. The information could then be used as part of a tax investigation by HMRC.

eBay sellers - are you liable for tax?
[February 19, 2007] Given the exponential growth of eBay and other auction sites, HM Revenue & Customs have taken note and have published a tax guide for "e-traders".

Tax man set to reclaim £500 from small companies
[February 5, 2007] HM Revenue & Customs (HMRC) may claw back £500 from thousands of small companies that have filed their PAYE returns on line.

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