If you set up your business as a limited company, then you will need to pay corporation tax on your profits. This is opposed to income tax, which sole traders, limited liability partnerships and traditional partnerships will pay. The following guide outlines the key elements of corporation tax and how to pay it.
Registering for corporation [...] CONTINUE
A new initiative by Inland Revenue to spread business tax payments over a longer period has been welcomes by. The Federation of Small Businesses (FSB).
According to Her Majesty’s Revenue and Customs (HMRC), the scheme has successfully enabled companies in Northern Ireland to spread tax payments totaling £67m over a period they could afford.
FSB spokesman Paul [...] CONTINUE
If your business turnover is more than over £68000 per annum, then you’ll need to register as a Value Added Tax (VAT) vendor with HM Revenue & Customs (HMRC), and you’ll then need to charge VAT on all goods and services that you provide. While being a VAT vendor is something of a hassle in [...] CONTINUE
A series of online, bite-sized video guides for new and small businesses has been launched by HM Revenue & Customs (HMRC).
The 10 videos, fronted by TV presenter Dan Snow, provide a helpful overview on a range of tax issues, including setting up in business, income tax for the self-employed, corporation tax and VAT. The videos [...] CONTINUE
Small business owners are pushing the government for more say in where their tax money is spent.
The Federation of Small Businesses (FSB) has spoken out after plans for a new Business Supplementary Rate Bill were announced last week. The proposed new rules will allow local authorities in England and Wales to levy a local add-on [...] CONTINUE
As the Bank of England’s Monetary Policy Committee starts it’s meeting today, the Federation of Small Businesses (FSB) is calling for an interest rate cut to save millions of UK small businesses.
A recent poll by the FSB revealed that almost 1.5 million small businesses risk going bust, with unemployment figures expected to rise as [...] CONTINUE
