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We're here with practical tax information for your business. Find out about business taxes, tax planning and more.

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We've scoured the web to get you the most up-to-date advice which includes the most useful tools on offer from the officials themselves.

Effective tax planning is essential if you are to minimise your tax bills. Simple tax planning can significantly reduce your tax liabilities.

The self-assessment tax return is an unavoidable burden if you are liable for self-employed tax or have complicated income tax affairs.

Corporation tax is charged on a company's profits. If you trade as a limited company, ensure that paying this tax is as painless as possible.

National Insurance Contributions (NICs) are payable whether you are self-employed or employed by your own company, although different rates apply.

As well as your legal obligations, you’ll want to ensure that payroll is painless and that you use any opportunities to improve your tax-efficiency.

VAT

Effective VAT planning aims to ensure that VAT is relatively painless, and that you are reclaiming as much as possible of the VAT you pay.

Capital gains are made when you sell something for more money than you paid for it. As a result, you can be subject to tax. Take professional advice.

Business property taxes apply to businesses with commercial premises.There are two commercial property taxes: business rates and stamp duty land tax.

If you have tax problems or face a tax investigation, it pays to seek professional advice and you must act rather than just hoping for the best.

Could your small business make it big on Oxford Street?

4 April 2023

A new competition is offering UK start-ups and small businesses the chance to trade on London's busiest shopping street.

Adobe and Enterprise Nation have partnered to launch the Small Business Goes Big competition, which will give 20 winners the chance to sell directly to shoppers on Oxford Street.

The competition will see 20 small businesses retail at 58 Oxford Street for a day each between 17 and 26 May 2023; with two brands sharing the space at a time. Each winner will also receive dedicated business support and mentoring to ensure they are high-street ready.

"Today's fresh brands often start out life online, and are increasingly finding that a key way to build a sustainable online community and following is to get out there onto the high street and meet their customers face-to-face. Pop-up shops and short-term spaces offer an important break to small product-based businesses, opening up a new route to market and it also paves the way for bringing fresh innovation to the great British high street." Emma Jones, founder and ceo of Enterprise Nation

Creating a brand identity

Small Business Goes Big was developed by Enterprise Nation and Adobe to help business owners update their brand identity and reach more buyers and customers. To win, businesses must create a web page using Adobe Express - a free web and mobile app that allows anyone to create content in minutes, without the need for any design or editing experience.

Simon Morris, vp international marketing at Adobe, said: "Visual branding is crucial for a small business; more than just logos and colours, it represents the identity of a business and gives it personality. With social media, consumers are exposed to new brands and products every day - so standing out from the crowd is more vital than ever.

"We're excited to be continuing the Small Business Goes Big initiative, giving entrepreneurs the opportunity to get their business in front of so many new potential customers, and look forward to seeing the growth of these small businesses following the competition."

How to enter

The competition closes at midnight on 24 April. Entries will be judged based on originality, effective use of Adobe Express, overall quality and business suitability. Winners will be notified on or around 5 May 2023.

To qualify, small businesses must be based in the UK, have fewer than 20 employees and be registered as either a limited company with Companies House or as a sole trader with HMRC and have a unique tax reference (UTR).

Written by Rachel Miller.

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