Introduction to the tax system

This section contains a set of useful introductory guides designed to help you with your tax planning. For advice on procedures such as filing your tax returns, or a list of those all-important tax rates and deadlines, visit the guides of your choice.

An overview of how the tax system operates, including self assessment, corporation tax, inheritance tax and the taxation of earnings from self employment.

The tax system for the self employed

If you start working for yourself, you must register with HM Revenue & Customs within the first three full months of self employment in order to avoid a penalty for failure notification.

The tax system for partnerships

If you form a partnership, you must register it separately with HM Revenue & Customs even if the partners have previously been self employed. If the partners are new to business, they must also register individually. Partnerships are registered with a dedicated HM Revenue & Customs partnership team, based at Longbenton near Newcastle.

The tax system for companies

How the tax system works for companies.

An introduction to VAT

Detailed guidance on the operation of VAT, VAT schemes and essential VAT information.

PAYE and NI

Real Time Information is now in operation. But why pay more tax and NI contributions than you need to? We can help you to minimise your liabilities, while ensuring that you comply with your obligations. Just view our PAYE and NI guides to find out more.

An introduction to IR35

For many years, people leaving jobs to become self-employed were advised to instead set up one man companies to provide their services; offering the security of a limited liability company and significant national insurance savings. We offer a brief introduction into IR35.

In the construction industry

There are special tax rules affecting the construction industry, which are designed to ensure that tax is paid by workers in the sector whether they are employed or self employed.

Vehicle mileage rates for the self employed

The use of mileage rates is an optional alternative to keeping detailed records of actual expenditure. For either method, journeys must be made wholly and exclusively for business purposes.

An introduction to tax planning

Tax planning is the legal process of arranging your affairs to minimise a tax liability, and with more than 200 such provisions specifically written into tax law, there are many areas in which planning can deliver tax savings.

Claiming tax deductible expenses when employed

Very few expenses are tax-deductible from earnings from employment, though a number of settled tax cases have confirmed that the scope is wider than previously thought.

An introduction to self assessment

It is a fundamental part of the self assessment system that responsibility lies with you, the taxpayer, to file tax returns and pay the correct amount of tax, and before the payment deadline - you must not wait for HM Revenue & Customs to ask.

Inheritance tax planning

Planning to minimise the liability to IHT is a team effort involving you and your professional adviser. To enable long-term planning to be set in place, it is important to carefully consider your planning options before making decisions about your financial planning and the distribution of your estate.

Introduction to the tax system

The tax system for the self employed

The tax system for partnerships

The tax system for companies

An introduction to VAT

PAYE and NI

An introduction to IR35

In the construction industry

Vehicle mileage rates for the self employed

An introduction to tax planning

Claiming tax deductible expenses when employed

An introduction to self assessment

Inheritance tax planning

Domicile

Child Tax Credit and Working Tax Credit

Tax and the company car

Stamp taxes

Key dates and deadlines

Resources & Tools