There are three types of taxation which may be of concern to your business :

Income Tax

As a sole trader you will be liable to taxation on the profits of the business. As a director you will be liable to income tax on your wages / salary (collected under the PAYE system).

Corporation Tax

This is the taxation system in place for the taxation of limited company profits.

Value Added Tax

This is a tax which must be charged on goods and supplies to all customers once your annual turnover (or projected annual turnover) reaches a certain level.


You may also be confronted with PAYE - a system for the collection of income tax and national insurance from all employees - we offer facilities for the operation of the PAYE system