Helping Newly Registered Businesses Meet Their Tax Obligations
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| Author | : Great Britain: National Audit Office |
| Publisher | : The Stationery Office |
| Total Pages | : 40 |
| Release | : 2006-12-06 |
| Genre | : Business & Economics |
| ISBN | : 9780102943825 |
There are around 700,000 new businesses starting up each year, all of which are required to register with HM Revenue & Customs for their different liable taxes. If a business takes on employees for example they will need to pay, PAYE, and if the business has a turnover exceeding £61,000 they then become liable for VAT. Businesses though need to register separately for each tax for which they are liable. This NAO report examines opportunities for the HM Revenue & Customs to further improve the help to new businesses, and looks at three areas: the compliance record of newly registered businesses; the process of registering for a tax; the guidance and advice provided by the Department. The report also highlights a number of conclusions and recommendations, including: the Department should target those newly registered businesses which are likely to benefit most, such as those entirely new to business and have least understanding of their tax obligations; new businesses should be encouraged to use the email alert service provided by Business Link; the Department should make guidance forms easier to understand and complete and also work more closely with other organisations such as tax agents, Business Link and financial institutions to coordinate help for new businesses in general; the introduction of a single online tax registration for businesses would be beneficial; and the Department should work towards a one stop telephone information system to cover all taxes.
| Author | : Great Britain. Parliament. House of Commons. National Audit Office |
| Publisher | : |
| Total Pages | : 36 |
| Release | : 2006 |
| Genre | : Business enterprises |
| ISBN | : |
| Author | : Great Britain: Parliament: House of Commons: Committee of Public Accounts |
| Publisher | : The Stationery Office |
| Total Pages | : 44 |
| Release | : 2007-10-25 |
| Genre | : Political Science |
| ISBN | : 9780215036728 |
The NAO report on this topic was published as HC 98, session 2006-07 (ISBN 9780102943825)
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 355 |
| Release | : 2021-09-15 |
| Genre | : |
| ISBN | : 9264424083 |
This report is the ninth edition of the OECD's Tax Administration Series. It provides internationally comparative data on aspects of tax systems and their administration in 59 advanced and emerging economies.
| Author | : Great Britain: Parliament: House of Commons: Committee of Public Accounts |
| Publisher | : The Stationery Office |
| Total Pages | : 64 |
| Release | : 2007-10-30 |
| Genre | : Architecture |
| ISBN | : 9780215036919 |
Biodegradable materials in landfill sites, such as food, vegetation and paper, generate methane and other emissions to the soil and water which can be harmful to health. The European Union introduced a Directive in 1999 which set maximum allowances for the tonnage of biodegradable municipal waste that each Member State could send to landfill from 2006 onwards. Waste collection and disposal is a key responsibility of the 388 local authorities in England, and the Department for Environment Food and Rural Affairs (DEFRA) has to work closely with them to enable the United Kingdom to comply with this Directive. Non-compliance could result in a fine of up to £180 million a year. The UK's historic reliance on landfill led to a four year extension to the timetable, but DEFRA took no effective action until 2003. Although 2005-06 saw a reduction of 2.3 million tonnes against the previous year, a further reduction of 4.9 million tonnes will be required to comply with the 2013 maximum allowance set by the EU. Much of the progress made has involved an increase in recycling, due to the public's enthusiasm, but manufacturers and retailers continue to use large amounts of packaging. Recycling alone will be insufficient to comply with the Directive, and new infrastructure - energy-from-waste plants which incinerate, anaerobically digest, or compost waste to generate electricity - will be necessary. But such plants are unpopular and typically take nine years to become operational, and there is a significant risk that many will not be ready in time.
| Author | : Gregory Becker |
| Publisher | : |
| Total Pages | : 152 |
| Release | : 2020-05-05 |
| Genre | : |
| ISBN | : |
Did you recently start a business? If you want to start a new business, do you know what type of structure you should follow to reduce taxes? Do you know how to file your taxes? Do you want to learn some tips to help you reduce the tax you pay to the government? If you answered yes to the above questions, you have come to the right place.This book is a thorough guide for both aspiring and new business owners to help them tackle business taxes. This book will shed light on how you can plan your taxes, tax credits rates, and other essential information to help you understand the importance of paying your taxes on time. Remember, if you miss deadlines, it will take a toll on your business.This book will take you through fact-checked, updated, and well-researched information to help you file taxes, reduce the taxable income and the tax bill. It will also help you learn how you can navigate through high tax rates while you sustain your position in the industry. The book contains information about: The different business structures and their pros and cons How you can navigate from one business structure to another Some important facts about taxation What should you do when you hire a tax specialist How much tax a small business pays An introduction to taxes for a sole proprietorship, partnership, and Corporation business structures The basics of accounting The essentials of bookkeeping Understanding Form 1040 Tips to reduce the taxable income and the tax liability You will also learn about the taxes that a small business is required to pay to the government under the new IRS regulations. The objective of this book is to help you meet your business goals while you stay on top of the most common tax problems. You will learn how to maximize business deductions, avoid any problems with the IRS, and maintain proper records.This book will make it easier for you to understand how to fulfill your duties efficiently. You will also discover and learn different tax reduction strategies to help you grow and expand. So, what are you waiting for? Grab a copy of this book today!
| Author | : Eric Tyson |
| Publisher | : John Wiley & Sons |
| Total Pages | : 332 |
| Release | : 2019-02-12 |
| Genre | : Business & Economics |
| ISBN | : 1119517834 |
Small business taxes taxing you out? For most business owners, their single biggest “expense” (and headache) is dealing with their taxes. And while the just passed Congressional tax bill reduced taxes for many of the estimated 30 million small business owners in the U.S., the nation’s taxes continue to be complex. Not being up-to-speed on tax rules and strategies can lead to mistakes that cost business owners thousands of dollars in fines and penalties every year. Small Business Taxes For Dummies assists both current and aspiring small business owners with important tax planning issues, including complete coverage of the tax changes taking effect in 2018, creating an ongoing tax routine, dealing with the IRS, and navigating audits and notices. Includes issues influencing incorporated small businesses, partnerships, and LLCs Offers expanded coverage of other business taxes including payroll and sales taxes Provides websites and other online tax resources Gives guidance to millennials juggling multiple gigs If you’re a current or aspiring small business owner looking for the most up-to-date tax planning issues, this book keeps you covered.
| Author | : Entrepreneur Press |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2003 |
| Genre | : New business enterprises |
| ISBN | : 9781932156485 |
This series covers the federal, state, and local regulations imposed on small businesses, with concise, friendly and up-to-the-minute advice on each critical step of starting your own business.
| Author | : Entrepreneur Press |
| Publisher | : Entrepreneur Press |
| Total Pages | : 0 |
| Release | : 2007-07-09 |
| Genre | : Business & Economics |
| ISBN | : 9781599181196 |
SmartStart Your Business Today! How to Start a Business in Colorado is your road map to avoiding operational, legal and financial pitfalls and breaking through the bureaucratic red tape that often entangles new entrepreneurs. This all-in-one resource goes a step beyond other business how-to books to give you a jump-start on planning for your business. It provides you with: Valuable state-specific sample forms and letters on CD-ROM Mailing addresses, telephone numbers and websites for the federal, state, local and private agencies that will help get your business up and running State population statistics, income and consumption rates, major industry trends and overall business incentives to give you a better picture of doing business in Colorado Checklists, sample forms and a complete sample business plan to assist you with numerous startup details State-specific information on issues like choosing a legal form, selecting a business name, obtaining licenses and permits, registering to pay taxes and knowing your employer responsibilities Federal and state options for financing your new venture Resources, cost information, statistics and regulations have all been updated. That, plus a new easier-to-use layout putting all the state-specific information in one block of chapters, make this your must-have guide to getting your business off the ground.
| Author | : Patricia Mitchell |
| Publisher | : Atlantic Publishing Company |
| Total Pages | : 290 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 1601383010 |
According the United States Small Business Administrationâe(tm)s most recently released date, there are more than 9 million small businesses in the United States and almost 250,000 new ones started every year. Of those new businesses, half will fail in the first 12 months and part of that failure is due to the lack of information about how to start and develop that business. Without the right legal form of business, you may end up paying too much in taxes, failing to comply with certain laws, or miss out on certain breaks that you deserve. This book provides you with a complete guide, discussing all four major forms of business, which one is right for you, and how your decision may affect you in the future. The first thing you will read about is the list of non-legal issues you need to deal with before you start the business creation process. In addition, you will learn which form of business is ideal for your particular situation with a short overview of each type, a comparison of what each offers, and how the legal implications of each might apply to you. You will learn specifically how to choose between an LLC and a corporation in instances where it might not be immediately clear which is best for you. You will also learn which special business structures are best suited to your needs if you do not fit into any of the four primary categories. The process of structuring a partnership is outlined, along with how to create a written agreement and how to change a partnership after the business has been created. You will also learn how to create a corporation, including the structure you will use, how to establish financing, the compensation you will provide yourself, whether you need a lawyer, the 13 step process of starting and filing your corporation, and what you need to do immediately afterwards. The number of members needed to create an LLC is provided as well, along with how to structure management and determine financing and compensation. Hours of careful interviews were conducted with successful small business owners and legal experts to help create a comprehensive collection of materials that will guide you through the processes above, as well as how to handle transition of ownership and the extended process of naming your business âe" including the legal implications of this process, what you need to know about trademarks and service marks, how to protect your own trademarks, and where to do name searches. The licensing and permit processes, as well as the tax structures for each business type, are included for federal, state, and local laws, while additional information is provided on how to build your home-based business as opposed to one in a physical location. If you are looking to create a new business and do not know which format is best for your needs, this book will walk you through each step of the selection process, making sure your new business meets all applicable laws and regulations.
