Small business tax – 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…
What business expenses can you claim as a sole trader?
As a sole trader, you can deduct many business costs from your income and pay less tax. But what counts as a legitimate business expense? And how do you claim?
Thinking of going self-employed? Expert tax tips
David Genders, author of The Daily Telegraph Tax Guide explains the key financial and tax points you need to consider when going self-employed.
An overview of expenses if you run a small business
Separating “allowable” and “non-allowable” expenses is complex for small business owners. This guide provides an overview of business expenses and links to further resources that provide more in-depth information. Allowable…
Stamp Duty – how and when to pay it – a small business guide
This guide looks at the types of Stamp Duty your business may be liable for: Stamp Duty Land Tax on property transactions, Stamp Duty Reserve Tax and Stamp Duty on…
How long should small businesses keep tax records for?
This concise guide explains which tax records small businesses (including self-employed and limited companies) should keep and for how long.
How are business rates calculated for small firms?
Just as you have to pay council tax on your home, your business must cough up business rates for its premises. They can be a pain and an easily overlooked…
Tax reliefs and allowances your business could benefit from
There has been an array of headlines over the years about how enormous corporations seem to make sales worth billions of pounds yet don’t pay much, if any, corporation tax.…
Dividend tax and National Insurance hike for small businesses from April 2022
The Government has announced a sharp hike in National Insurance and Dividend Tax rates from April 2022 to help fund a new Social Care and Health Levy. How much will this cost small business owners?
Tech companies must report income details of online sellers to HMRC after 2023
If your business sells products or services via online platforms like eBay, Amazon and Airbnb, you should be aware that these tech companies will be obliged to share details of your earnings with HMRC from early 2023.