VAT and tax payments
Whether you are starting out or an established business it's important you understand your VAT and tax obligations, and keep the correct records.
Understanding tax obligations
There is lots of information available to help you understand your tax obligations:
- information on the Gov.UK website about your tax obligations and registering for self-assessment
- HMRC also offer start-up information
- taxes that may be applicable to start-up businesses
- ready reckoner available to help customers budget for their first tax bill
- tax help fact sheets which are a good source of straightforward guidance.
HMRC have some fantastic eLearning products, for example:
They contain everything you need to know about being self-employed and employing someone. You can work through this at your own pace and dip in and out to suit your own needs. Thousands of businesses have already used these and found they are a great way of learning.
HMRC run a wide variety of webinars (online presentations) which will help you get things right from the start. Webinars last less than an hour and you can either choose between a pre-recorded webinar available at any time and a live and interactive webinar where you also get the opportunity to ask questions.
Find out more about webinars on the HMRC website.
Sign up for HMRC’s free email service. Receive a series of tax related emails at specific times to let you know what you need to do to keep your tax affairs in order.
Record keeping mobile apps
There are a range of smartphone record keeping apps supplied by third parties to help you run your business.
Take a look at the HMRC list of what’s available.
If you are looking for ‘bite-sized- chunks of information on a range of tax matters, why not access HMRC’s YouTube channel. There are numerous YouTube clips to help you, some lasting for less than one minute!
Ways to contact business support
The best way to contact us is through our online form so we have the right information to help you as quickly as possible. Contact us by: