In recognition of Small Business Saturday, HM Revenue & Customs says it will dedicate December 7th to individuals who have started their own enterprise, or who are about to, by offering live one-hour webinars on ‘need to know’ issues.
Starting on the day at 10am, session one – Self-employment and HMRC – will focus on the information that partnerships and sole traders need when they set up; register to trade or self-assess with the tax authority.
Session two, at midday, is for company directors wanting to get on top of their responsibilities, but freelancers are more likely to join the third webinar, at 2pm, entitled ‘Business expenses for the self-employed.’
There will also be a final session – VAT Awareness, which promises to explain “in simple terms” how VAT works; what it is and when to register.
“New businesses are often worried about VAT,” reflected HMRC. “[Meanwhile] sole traders or partnerships need to know which day-to-day expenses they are able to claim for tax relief.”
HMRC added that the webinars are aimed at new and prospective business owners who , during the session, will be able to pose their own questions to its officials on the issues covered.