The objective of this highly practical workshop is to demystify the terminology and build confidence.
We start with an introduction to the different taxes payable as a sole trader, partnership, and limited company as well as the different returns, payments, and penalties associated with each. We then consider your responsibilities, whether as director or owner.
The group then learns a simple method to help you calculate your tax bill.
This leads into a discussion on capital allowances, before looking at the differences in loss relief for sole traders, partnerships, and limited companies. We then consider what happens when the company loans money to, or borrows money from, its principals.
We then look at the help HM Government is providing in relation to Covid-19.
The session ends by looking at what resources are available and where to get more help.
What will I learn?
• what tax is paid when running a business
• the implications of being a sole trader, partnership, or limited company
• how to submit a return, make payments, and avoid penalties
• what financial information you need to calculate what you owe HMRC
• what allowances and reliefs are available to your business
• the significance of borrowing from, and lending money to, your company
• how VAT works and how to deal with it
• the impact of COVID-19 on your company’s tax.
Link to book : www.scaleup360.co.uk/register