In between staying on top of your business operations and tax accounting to meet legal requirements, it’s never easy for small business owners in the UK.

In the world of business, you deal with numbers and figures day in, day out. With the market and sales competition getting tougher and tougher, you must ensure that while you are focused on driving your business towards success, growth and consistent competence, your compliance with the laws on UK Business and Corporate Taxes is not jeopardised.   Additionally, being knowledgeable about current tax legislation and due dates is a prerequisite for you to be able to take advantage of all the tax incentives and breaks that the government has provided to SMEs.

Tax compliance in the UK, although crucial in effective and efficient overall business management, is typically neglected. However, to ensure that your business operations continue to run seamlessly, your business needs a comprehensive and actionable SME tax planning strategy that allows you to stay on top of your finances and in compliance with UK’s tax laws.  

This new financial year is set to look slightly different due to the new tax rules in the UK. In order to plan and manage your business’s tax affairs accordingly, it is important to note the possible impact these changes may have on your business. You can do that – and save money along the way - with optimal tax planning. With the start of the new financial year in April, it is important for you to act now to reduce tax liabilities for the current year. Business tax planning does not have to be a stressful process with these quick tips.

In one of his many speeches, Warren Buffet was quoted when he said that  business schools should focus more on teaching budding entrepreneurs about business valuation. This simple statement emphasises the need to assess the real value of your business but it does not explain why valuation is indeed important for a successful company. Here are some points to consider to help you understand why valuation is important for your business:

In this day and age, taking anything at face value is a risk that perhaps no business owner in his right mind would be willing to take. This further emphasises the importance of SME valuation or the estimate of the net worth of your business. As it is, valuation may sound a little too complex but by taking little steps to figure out your financial position, you can get through valuation in a breeze. Here are some useful tips to help you determine your financial position: