Taxation for Sole Traders/Self Employed - Inverclyde

Understanding what taxes, you may be required to pay will help when completing your self-assessment at the end of the financial year.

This workshop will break down the HMRC’s taxation process at each step allowing you to understand how tax is calculated and subsequently paid.We will look at how MTD, (making tax digital), will affect how you account for taxation.We will cover National Insurance Contributions for the self employed, how it’s calculated and paid. We will look at VAT and if it affects your business, how it’s calculated and paid.

• To explain the operation of the main taxes for small businesses
• To provide guidance on tax compliance including MTD
• To provide a method of forecasting tax liability and planning for its provision
• Any advice given can only be of a general nature
• Attendees should seek specific advice from a qualified tax adviser
• Examples are provided for information/illustration purposes only and must not be construed as advice