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.

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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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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.

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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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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.

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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.

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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.

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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.

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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.