Tax Help factsheets

There is a series of easy to understand fact sheets covering the issues that small and medium size businesses need know about. They are downloadable and include signposting to appropriate useful information and tools on the HM Revenue & Customs website:

Keeping records for business
Find out what records you need to keep if you are running a business

Self Assessment - the three line account
Find out about using the three line account for Self Assessment and how it can make it easier for you if you are self-employed or have income from property

Employing someone for the first time
Find out about your responsibilities as an employer - who counts as an employee, how to register as an employer with HMRC and where to get help and advice

Paying your tax - what you need to know
Find out about the benefits of paying by Direct Debit, when to make a payment, using the correct reference number and where to get help and advice

Problems paying your tax - what you need to know
Information on how to avoid payment problems, what to do if they occur, who to contact in HMRC and what can happen if you ignore HMRC's demands for payment

Paying tax if you buy and sell things from home - what you need to know
If you work from home buying or selling things, for example on the internet, on auction websites, at car boot sales or in other ways, you need to know whether you should be registered

Starting a limited company
Information on what you need to do if you are starting a limited company - registering with Companies House and telling HMRC

Importing and exporting goods - what you need to know
Find out what procedures you will need to follow when bringing in to or sending goods from the UK to countries outside the European Union and what charges and duties you'll need to pay

If you stop trading - what you need to know
Find out what you need to do and who to contact in HMRC

Expenses and allowances for the self-employed
Information on expenses and allowances, claiming capital allowances and how VAT can affect your allowable expenses

VAT - what you need to know
Easy to understand fact sheet explaining the basics of VAT

Going back into business - what you need to know
Find out what you need to do and who to contact when you start back in business

You can find more information at www.hmrc.gov.uk