The Most Important Taxes You Should Know about as a Small Business Owner

Any business owner knows that paying taxes is inevitable and whether you have just started out or have been running your business for a while, settling your taxes properly and on time is a requirement unless you are willing to pay a hefty fine. But there are a lot of complex tax rules in the UK, and most businesses have a difficult time keeping up with these rules and knowing exactly what taxes they have to pay. If you have a small business and would like to make sure that you are up to date with your taxes, here are the most important taxes you should know about. Income tax If you are a sole trader, your tax will be paid based on the profit of your business. If you have no other income aside from what you make in your business, you will begin settling income tax on the profit o

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