Affordable accounting services for SME owners.

The deadline for filing your company's tax return in the UK is typically 9 months and 1 day *example will also need to be changed to due on the first of October* after the end of the financial year. For example, if your financial year ends on 31 December, the deadline for filing your tax return would be 31 December of the following year. You can file your tax return online or by post, and penalties may apply if you miss the deadline.

Small business owners in the UK can claim a wide range of expenses as tax deductions, including office rent and utilities, employee salaries, travel expenses, and business equipment purchases. You can also claim expenses related to professional development, such as training courses and industry conferences. However, it's important to keep accurate records of your expenses and ensure that they are legitimate business expenses.

If your business's annual turnover exceeds £85,000 in the UK, you are required to register for VAT. However, you can also register voluntarily even if your turnover is below this threshold. Registering for VAT can provide some benefits, such as allowing you to claim back VAT on business expenses, but it also comes with additional administrative requirements.