Monthly Archives: September 2021

Hot Business News Today

What is Making Tax Digital and why should you care?

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By Dan Matthews on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Making Tax Digital explained
Making Tax Digital (MTD) is a government plan to shift paper-based tax reporting online, spelling the end of form-filling for millions of UK businesses. Changes affecting value added tax (VAT), income tax and corporation tax are being introduced over time, meaning a growing number of small firms are falling under MTD’s scope.
Businesses with turnovers higher than £85,000 are already required file quarterly VAT submissions digitally under MTD rules, records for which must be kept online and submitted via software. Those with a turnover lower than the £85,000 threshold will have to comply by April 2022.
Next in line for digitisation is income tax: individuals with a self employed or property income over £10,000 per year must adopt digital filing from 6 April 2023, while corporation tax will shift online sometime after 2026 following a pilot period, according to the latest plans.
What businesses must do under MTD rules:

Keep digital records
Submit summary information to HMRC once a quarter
File an end of period statement to make any adjustments and a final declaration by 31st January each year.

Why is tax going digital?
There are many reasons for the

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Hot Business News Today

The essential guide to small business marketing

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By Ben Lobel on Small Business – Advice and Ideas for UK Small Businesses and SMEs
In a massively competitive business landscape, small business marketing can be a real struggle for company owners, particularly in the early stages. Faced with the task of getting the word out on a limited budget, it can be hard to know what the best-value techniques are to grow your database, increase your exposure and kickstart your revenues. So much of marketing can be trial and error.
A leaflet distribution exercise or promoted post on Facebook may not get quite the results you were looking for, but it could be that a subsequent exhibition stand or strategic partnership works wonders for your small business marketing. In our guide, we speak to five business owners that employed a range of techniques to great effect, drill down into why each method worked for them, and seek their advice for other small business owners hoping to boost their exposure.
Together with advice from seasoned marketing professionals, there is a wealth of information included to educate company owners about how their marketing plan should look this year. We hope you find the guide useful and good luck in your marketing efforts this

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