Those looking to set up their own small business will be interested to learn that HMRC has launched a new online tool.
The interactive tool is aimed at supporting new and existing sole traders to better understand their responsibilities; giving guidance on the records they may need to keep and taxes that may apply to their business.
It also includes other useful information, such as how to pay a tax bill – all free of charge and designed to support all types of self-employment.
Need help deciding between Limited or Umbrella? We are happy to help- give Sophie a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com
Marc Gill, HMRC Director of Individuals and Small Business Compliance, said, “At HMRC, we know small businesses are vital to our economy, and we want to help you get things right from the start.
“It can feel overwhelming when you’re a new business owner. That’s why we’ve created user-friendly, anonymised tools that give you the knowledge to make confident business decisions.
“We are committed to continue building trust with the small business community. Whether you’re just starting out or growing your business, we’re here with clear, reliable guidance to help your business succeed.”
To find out more about contracting please contact Sophie on 01206 591 000 or email sophie.lewis@contractoumbrella.com.
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