I recall the old “tax doesn’t have to be taxing” campaign HMRC ran for years, maybe it’s still going, and while I agree with the sentiment for many new start-up businesses tax does seems like a daunting prospect to deal with. I think that much of the cause of this anxiety is fear of what you might have missed, what you didn’t know you had to do is much more concerning than having something new to do that is clearly sign-posted. Add on top of that the penalties for late payment and the potential for paying too much tax and you’ve got a recipe for many stressfulness hours figuring it all out.
To help with some of that pain we’ve put together this little guide to help you navigate the first steps of corporation tax when starting your new company. It’s the second in our series of small business start-up guides, if you’ve not read our Guide to Companies House you should check it out. I hope you find it useful, let us know what you think by leaving a comment on the page.
Just click the image above to access the interactive version.