We will all be familiar with the saying ” nothing is certain but death and taxes”. As any business owner knows, it’s stressful enough running your own business so it’s crucial to have an expert to hand when it comes to tax matters.
For Business Advice, I will be tackling the nitty-gritty issues of tax and administration including getting the basics right for your year-end tax return, how to deal with the new online tax return, where do many small businesses go wrong when it comes to filing and reporting tax matters and what should you do if you face a tax investigation from HMRC.
Tax and VAT is enough to send business owners into a cold-sweat or worse still denial that they have to do anything about it. The key is in the planning and also being aware of exactly what information you will need to present so there’s not a last minute panic. In being prepared and doing some up front planning, you can also make a real difference to your bottom line tax bill.
I’m a partner at accountancy firm Shelley Stock Hutter (SSH), and have a wealth of experience advising SMEs based in the UK and across the globe and regularly advises on setting up the right corporate structure, VAT registration, payroll and remuneration packages. I’ve also worked in a senior finance position for the medical insurance company Bupa.
A big champion of people making the jump to set up their own business, I regularly work with startups. One female business owner in the knitwear industry worked with me from day one and, five years later, the business has a turnover of almost £20m. Through my role, I am also very closely aligned with an international restauranteur who has opened five restaurants across the globe in the past three years and seen both his revenue and profitability grow significantly.
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