For someone starting up in business it is vital to know what taxes you will need to pay and when.  Talk to the Inland Revenue as soon as possible to find out about registering as self employed.  You will need to keep records of your income and expenditure in order to work out your tax bill.  BRAVE and CSV Avon Training run frequent 'Starting in Business' courses to get you started on the right track.  
  

For growing businesses needing to take on staff you must understand how  to deduct PAYE and National Insurance correctly.  See the Events Diary for the next practical workshops provided by the local HM Revenue & Customs Business Support Team.

Businesslink.gov.uk provides practical advice for small businesses.  It has launched a new tool to make life easier for small business owners: Tax key dates email alerts.  By answering a few questions about your business, you can receive a list of important tax-related dates covering the next 12 months.  You can also opt for email reminders as each date approaches informing you of a task and featuring a link to the government website to help you complete that task.

Businesses which have made more than £60,000 worth of sales of taxable supplies in the last 12 months must register for Value Added Tax.  Businesses may also elect to register for VAT, if this can bring business benefits.  Contact HM Revenue & Customs for more information on VAT registration.    

Self-employed people with a low income are able to claim Working Tax Credits, and there are additional payments for those over 50.  A guide for this age group has been published by the Prime Initiative, part of Age Concern.

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