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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Sole trader tax – a concise guide for the self employed
In this guide, we look at the taxes you will encounter if you start your own business as a sole trader and other things you should bear in mind before taking the plunge and becoming…
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Guide to the main HMRC payroll forms for small businesses
When you run a small business, either as a sole trader, partnership or limited company, there will always be a number of HMRC forms you will need to be aware of. Although your accountant will…
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Rewarding staff with bonus shares – tax implications
Bonus payments may have been a bit thin on the ground since the COVID-19 pandemic hit. Hard-pressed businesses, struggling to meet existing commitments, may balk at the prospect of parting with cash. However, the benefits…
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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.