HM Revenue & Customs (HMRC) has recently launched The Small Business Forum - a new online tax forum for small businesses and the self-employed. It’s a quick and easy way for small businesses to get answers to their tax questions.
With topics ranging from the tax implications for start-up finance to industry-specific help and support and self-assessment Q&As, it's great resource for getting expert help.
Most SMEs want to get things right but HMRC recognises that they may need help to do so. To aid customers as they face key business life events, including starting in business, taking on an employee, registering for VAT and incorporation, HMRC also offers regular and varied communications.
Their products include:
- A selection of short videos on YouTube covering subjects such as Self Assessment, PAYE and Record Keeping. These are a really useful way to get a quick overview on various subjects.
- Online guides for self-employed customers, employers and traders registered for VAT. Starting your own business and Business expenses for the Self-employed cover all aspects of starting and growing a business. Becoming an employer deals with taking on and paying employees. VAT – Getting started for traders who are working out if they need to register for VAT. VAT – How VAT works for essential information once you’re registered. Letting out property if you are an unincorporated landlord letting out residential property. You can work through these at your own pace and dip in and out to suit your own needs. Thousands of businesses have already used these and found they’re a great way of learning.
- A range of webinars on a variety of topics. You can choose between a recorded webinar available at any time and a live and interactive webinar where you also get the opportunity to ask questions via an online textbox. Customer feedback confirms that these are a good way to get started.
- Live sessions on self-employment, Self Assessment, end of year for employers, P11D and VAT. The service runs in an open chat forum and expert staff are on hand to answer your questions. Staff don’t have access to your account but will be showing short webinars on relevant topics.
- Business help and education emails is a free service to provide customers with emails from HMRC that are tailored to their needs. They are designed to help customers understand what they need to do and how to get it right first time. You can sign up here.
- @HMRCbusiness is a Twitter account designed to provide help to business. HMRC tweet about upcoming webinars, tax matters and online guidance. Click the link to follow HMRC now.
- HMRC has worked with software suppliers that have produced simple record keeping apps to help make life a little easier for busy people on the go. A ready reckoner is also available to help customers budget for their first tax bill.
All of this guidance can be found on GOV.UK