How to work out tax and NI

Small-business owners are not expected to be experts on tax and NI, but ignorance is no defence. Here are some of the key rates and facts you need.

How to work out tax and NI
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How to work out tax and NI - overview

Small-business owners are not expected to be experts on tax and NI, but ignorance is no defence. Here are some of the key rates and facts you need.

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Essential guide to business tax

It helps to understand the taxes likely to affect your business, and have systems to help you comply with your obligations. Read our tax overview.

Business person performing VAT calculations
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Essential guide to VAT

Once your sales reach the annual threshold, you must register for VAT. Our guide to when and how to register, and what you need to do once you have.

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VAT

Once your sales reach the annual threshold, you must register for VAT. Our guide to when and how to register, and what you need to do once you have.

National Insurance
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National Insurance

Employers pay employer National Insurance contributions (NICs) for each employee, and also collect their employees’ contributions. Our guide to NICs.

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VAT registration

If you register for VAT with HM Revenue & Customs (HMRC), you must charge VAT on any goods and services you sell that are subject to VAT.

A man pops his head up below the work taxes on a blackboard
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Q&A: Tax for the self-employed

When you become self-employed you become responsible for your own tax and NI. You'll need to know what and how much tax to pay and when.

Filling out forms - Q&A tax returns
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Q&A: Tax returns

Chartered certified accountant Raphael Coman of Coman & Co answers some key questions about tax returns, including important deadlines.

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Q&A: VAT registration

Kate Fisher explains the circumstances under which your business should be VAT registered, when you have to register and when you might choose to.

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Q&A: PAYE

If you have employees, you must operate a PAYE scheme. Chartered accountant Howard Hackney provides need-to-know answers to questions about PAYE.

Setting up your payroll - checklist
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Setting up your payroll - checklist

If you take on employees, you will need to set up a payroll system to make sure you're fulfilling your legal obligations. Here's where to start.