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A start up’s simple guide to tax

Setting up your own business is an exciting and life changing prospect, but if you struggle to get to grips with small business taxes, you could be behind the pack from the outset.

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Late payments stifling small businesses

Research which more than 1,000 small businesses took part in, revealed that small businesses were struggling to ensure their invoices were paid on time according to Crossflow payments.

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HMRC’s continued aggressive approach to reduce the tax gap

HMRC are looking to close the tax gap – and small businesses are on their radar. The tax gap is the amount that should be collected by HMRC, and currently stands at £36 billion, although it’s at its smallest in more than ten years.

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Income from rental must be declared to HMRC

As a landlord who rents out property and receives income through this, it must be declared to HMRC. However any qualifying associated expenses you incur can be deducted.

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What the snap election means for your business (and how it could be good news for your tax!)

CHW Bolton Accountant, Nicola Roby, looks at what the snap election means for your business. U-turn on ‘Making Tax Digital’ Whilst this was big news in…

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