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Small Business Tax Planning

All you need to know from start-up to retirement

By Russell Cockburn

Paperback £19.99 / $24.99
eBook £17.99 / $21.99
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Small Business Tax Planning

All you need to know from start-up to retirement

By Russell Cockburn

Jacket text

Effective planning of your tax affairs to help your business save money

Every profitable business in the UK has to pay tax, but some small businesses pay more tax than is necessary. This book examines the tax liabilities that the owners or managers of small businesses need to bear in mind and explains how to manage these tax requirements in the best possible way so as to avoid paying more tax than you have to.

Uniquely, this guide traces how tax should be dealt with throughout the life-cycle of a business, from start-up to the time it is sold, wound up, or passed on, so that whatever stage your business is at this book will be valuable for you.

Areas that are covered include:

– What business structure you should choose when starting out: self-employed sole trader, partnership or limited company.
– How to register your business and when to start paying tax.
– When tax inspections might arise and how to deal with them.
– How to manage business expenses effectively and make use of relevant tax benefits.
– How to withdraw from a business and pass it on, or how to go about selling it.

Guidance about tax is spread over many different locations; on the internet, in booklets provided by HMRC, and in magazines and annual publications. Russell Cockburn brings the information together in this simple and incisive summary enabling you to approach your tax affairs as efficiently as possible.

About the author

Russell Cockburn B.Sc (Hons) is a former HM Inspector of Taxes providing tax consultancy and advisory services to other professionals, businesses, executives and private clients. He also provides a broad range of tax training, lecturing, writing and publishing services. Russell was also the author of the 'ICSA Tax Guide 2003-4', published for tax advisers and practising professionals.

Media coverage

From Tax Donut:

Start-up tax: tips for new businesses August 22, 2011 by Georgina Harris Tax author Russell Cockburn explains how to save money by making the right choices at the very start of your business planning Starting a business is difficult. Tax is probably the last thing on most entrepreneurs? minds at this stage. But it should… Read more »

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From ByteStart:

Russell Cockburn, author of Small Business Tax Planning has provided us with eight useful tips for small business owners, covering everything from how pay yourself and your employees, to the expenses you can legitimately claim. Business structure When you start in business, the choice of business structure you operate under can make important differences to… Read more »

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From Start Ups News:

Enjoy these top tax tips for SMEs from Russell Cockburn, who is the author of Small Business Tax Planning, published in February 2011 by Harriman House. Have you got the right business structure for you? Many businesses operate as sole traders or partnerships. As your profits (hopefully) rise it will be well worth considering using… Read more »

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From thesewingdirectory.co.uk:

“A useful reference guide…a useful guide for business owners..”Business Book Reviews – Small Business Tax Planning- The Sewing Directory17th January 2012

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From taxdonut.co.uk:

A stitch in time saves ten…- The Tax Donut 6th October 2011

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From taxdonut.co.uk:

Start-up tax: tips for new businesses- The Tax Donut 31st August 2011

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From bytestart.co.uk:

Top tax tips for small business owners- ByteStart 12th July 2011

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From startupsnews.co.uk:

Top tax tips for small business people- Start Ups News 1st July 2011

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Contents

About the Author
List of Abbreviations
Preface
Introduction - Tax And Your Business

Part One: Setting Up A Business
1. Business Structure - Choices and Tax Implications
2. Tax Incentives when Starting A Business
3. The Tax Stages of a Business
4. Compliance and Dealing with the Tax Authorities
5. HMRC Tax Investigations - Compliance Checks

Part Two: Running A Business
Introduction: The Climate for Tax Planning
6. Business Tax Bills
7. Personal Tax Bills
8. Extracting Cash from a Business

Part Three: Withdrawing From The Business And Succession Planning
Introduction
9. Sale of the Business
10. Passing on the Business - Successions
11. Implications of Retirement for the Business Owner

Appendices
Appendix 1. The UK Tax Regime for Small Companies
Appendix 2. The UK Tax Regime for Small Unincorporated Businesses

Index



Published: 28/02/2011
Edition: 1st
Pages: 326
Formats: paperback - ISBN 9781906659394
ebook - ISBN 9780857192097
Media enquiries

If you’d like to get in touch with the author for interview or comment, or you’d like a review copy of this book, please contact us at pr@harriman-house.com or call +44 (0)1730 233870.

Rights

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Bulk purchases

We offer discounts for bulk purchases. Please contact specialsales@harriman-house.com for a quote.