New App For Small Business Tax Planning

I'm sure many small business owners can agree that, when it comes to taxes, it is difficult to know where you stand once you know you are turning a profit. Predicting where you are profit-wise in a small business can leave you confused and with a lot of paperwork and that's not brilliant - this new app however can go someway to helping you to plan how much you can take from your business after taking into consideration costs and taxes. More specifically:

• Taxes and National Insurance Contributions on employee salaries - including Employers National Insurance contributions.
• Corporation Taxes
• Dividends - these can be split up into multiple employees/shareholders and taxes automatically calculated.

Whilst the app is not a replacement for proper advice and works for Limited Companies only, it does give a good indication of where you stand. It's a fully interactive app where you can chop and change between different sections and see results immediately - good for trying different scenarios. You can use the Small Business Tax Planner app at the UKTaxCalculators.co.uk website, at the following url: http://www.uktaxcalculators.co.uk/small-business-tax-planner/