Tax Guides
How are small businesses taxed in the UK? We explore the various taxes you will encounter as a business owner – either as a sole trader or a limited company.
Key Guides
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What is the VAT cash accounting scheme?
Many small businesses benefit from using VAT Cash Accounting Scheme. Rather than repaying HMRC for VAT your have invoiced for, but not yet received from customers, you only need to account for VAT when you…
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Guide to Value Added Tax (VAT) for small businesses
VAT is something that many new business owners overlook. Many assume that it doesn’t apply to them – surely it’s just for the bigger businesses out there? That may be true most of the time,…
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How long should small businesses keep tax records for?
In this concise guide, we explain which tax records small businesses (including the self employed and limited companies) should keep, and for how long – according to the prevailing HMRC rules.
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Small business taxation – what are the main taxes?
Small businesses, and the individuals who run them, are subject to a wide array of taxes – from Corporation Tax to National Insurance. Here is an overview of the main UK business taxes you will…
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Guide to National Insurance Contributions (NICs) for small business owners
National Insurance is a deduction from earnings, set up originally to fund various State benefits such as the NHS, the State pension and other welfare-related schemes.
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Thinking of going self-employed? Expert tax tips
Becoming self employed is a new and exciting chapter of life, but it does come with extra responsibilities. With so much to think about, we asked David Genders, author of The Daily Telegraph Tax Guide…