Small Business Tax

Corporation tax rise an important issue, says pressure group
[April 22, 2008] The FPB has called on MPs to place the issue of small companies' corporation tax hikes alongside the Government's decision to axe the 10% starting rate for personal income tax.

The benefits of filing tax documents online
[April 21, 2008] You can receive cash incentives by filing some tax documents online. There are also other benefits to filing VAT, Corporation Tax and your Annual Return via the web.

End of tax year - small business checklist
[March 31, 2008] A leading accountancy firm has urged small business owners to ensure they are making the most of available tax allowances prior to the end of the tax year on 5th April.

Book-keeping basics every business owner must know
[March 25, 2008] Being on top of your book-keeping will help you maintain a healthy cash flow within your business, and be able to spot trends early on - whether you're a sole trader of running a limited company.

Capital Gains Tax Guide to Entrepreneurs' Relief
[March 19, 2008] Entrepreneurs' Relief is a Capital Gains Tax concession on qualifying business disposals, providing a 10% CGT rate on business sales - up to a maximum lifetime allowance of £1m. A flat CGT rate of 18% applies in other cases, from 6th April 2008.

Hidden National Insurance rise in Budget 2008
[March 14, 2008] The Government will raise an extra £2bn per year via a massive hike in the National Insurance contributions limit. The change was quietly introduced in Budget 2008.

Entrepreneurs' Relief - yet another anti-enterprise measure
[March 3, 2008] An editor's note on how "Entrepreneurs' Relief" has been heralded by some as a sensible bit of legislation, whereas it is actually another anti-enterprise measure aimed squarely at small businesses.

Entrepreneurs' Relief - Draft legislation released
[February 29, 2008] The Government has released its draft legislation for the new "entrepreneurs' relief" scheme, which will replace the current Capital Gains Tax taper relief regime on 6th April 2008.

Year end tax planning guide for individuals and businesses
[February 22, 2008] Important year-end tax planning tips including CGT changes, Inheritance Tax, Income Shifting, Capital Allowances changes, and the new non-domiciled tax rules.

Use your spouse to benefit from indexation relief before CGT change
[February 12, 2008] Business and financial adviser, Grant Thornton, is highlighting the fact that individuals can take advantage of indexation relief before the CGT flat rate comes into effect on 6 April 2008, provided they have a helpful spouse.

Associated companies - how they can increase the rate of corporation tax
[February 5, 2008] 'Associated groups' can have a significant impact on the rate of corporation tax your company pays. In some instances, they will reduce the amount of company profits that are taxed at the lower, small companies rate. It's not uncommon for businesses to be inadvertently caught up by the Associated company rules.

The Tax pitfalls of being self-employed
[January 22, 2008] A simple guide to the transition between being taxed as an employee, and becoming self-employed,

How to make the most of trading tax losses
[January 14, 2008] As we approach the end of yet another tax year readers with possible tax losses for the current tax year may find this article of some interest. A claim to set off losses has to be "all or nothing".

Capital Allowance breaks could be good news for small businesses
[January 4, 2008] Smaller businesses can make substantial savings as a result of sweeping changes to the tax relief system for investment in assets such as plant and machinery.

Capital Allowances - Changes for 2008/9 tax year
[December 10, 2007] An overview of changes to the capital allowances system for the 2008/9 tax year.

Stamp Duty - Small Business Guide
[November 28, 2007] Small businesses may be liable to pay stamp duty. We look at the two difference types - stamp duty land tax, and stamp duty reserve tax.

How to choose accounting software for small businesses
[November 15, 2007] The accounts software package that you choose when you start your business could affect how much financial control you have in the years to come. How to choose accounting software, including links to the leading providers.

How company cars are taxed
[November 14, 2007] In the old days, one of the perks of running your own business was the ability to run a decent car by getting your company to lease it, and take it as a company car. That perk doesn’t really exist any more.

CGT - selling non-business assets after 5 April 2008
[November 9, 2007] Proposed changes to CGT in the Pre-Budget Report will mean that the CGT rate paid by people selling non-business assets will fall from 24% to 18%. However, the removal of indexation relief means that many long-term holders will end up paying more tax.