To coincide with Small Business Saturday on 7th December – a Government-backed initiative to encourage consumers to support their local small firms – HMRC ran a series of webinars and training sessions dubbed ‘Startup Saturday’, covering a variety of topics from self-employment, to expenses, to VAT. The sessions were deemed such a success that HMRC has scheduled a repeat performance for Saturday, 15th February.
Once again called Startup Saturday (Small Business Saturday is a separate event, and will happen again in December 2014), HMRC is encouraging freelancers, contractors and small businesses to attend online webinars going over the basics of running a business.
The four webinars, all lasting an hour, are:
Self-Employment and HMRC – What You Need to Know
10am – 11am
This session concentrates on the information sole traders or partnerships need when they start. It covers registration, National Insurance, Self Assessment and record keeping.
Company Directors – Your Responsibilities to HMRC
12pm – 1pm
This webinar is aimed at businesses considering setting up as limited companies. It provides the basics on incorporation and registration with Companies House and HMRC. It also looks at when companies become an employer, and the timetable for paying Corporation Tax online.
Business Expenses for the Self-Employed
2pm – 3pm
Sole traders or partnerships need to know which day-to-day expenses they are able to claim for tax relief. They also need to start keeping records of these as soon as the business starts. This webinar provides an overview of the most common expenses, including motoring costs.
What is VAT?
4pm – 5pm
New businesses are often worried about VAT, what it is and when they need to register. This webinar answers these questions and explains in simple terms how VAT works.