UK small business tax rates 2022/23 – at a glance!

There’s good news and bad news. Income tax rates generally aren’t increasing. However as inflation steadily rises tax breaks such as your Personal Allowance are now locked in until 2026. Coupled with forthcoming rises in national insurance, corporation tax and dividend rates the net impact for small business owners is a substantial and quite sneaky tax increase over the next few years.

Digital Downloads and the EU VAT MOSS Debacle

Do you directly sell digital products such as PDF plans, downloadable software or electronic training courses? Welcome to a whole new world of EU sales tax that I can almost guarantee you didn’t know about. That’s right folks – forget about your £85,000 VAT registration threshold if you’re in the UK. The EU have reduced this for digital products… by a factor of 10! It impacts you wherever you are in the world. If you sell digital products to the EU your life has just become a whole load more complicated. Welcome to the VAT MOSS mess.