tax and ni

An Introduction to Tax and National Insurance for Business

An Introduction to Tax and National Insurance for Business

As a business owner, the complex web of tax and National Insurance obligations that apply to you can be extremely daunting, and it is difficult to know where to begin. Luckily, you will have this article to help you – below, you will find a comprehensive run-down of the taxes, schemes and reliefs which are likely to affect you and your business Which taxes affect my business? Every business is different. If you are a small sole trader, your tax obligations are likely to be fairly simple, limited to just income tax and NI, but larger businesses will have more complex obligations. Broadly, the taxes you are likely to come across include: Income tax. Both employees and self-employed people pay income tax, as long as income exceeds £10,000 (in the 2014/15 tax year). If you are an employer, you... »