TAX QUERY

When your are the owner of your own buiness, how do you make sure you are paying the correct tax and NI.

Re : TAX QUERY

The best way to do this is to get yourself an accountant, particularly if you don't know what you are doing.

The process is fairly simple if you want to learn to do it yourself - there is lots of information on the HMRC website and there are various specialist business forums in the UK where you can probably post and get free advice from people, one is About My Business: http://www.aboutmybusiness.co.uk

Re : TAX QUERY

I think you have to fill in a self assessment form once a year. You just have to work out your total income and then tell them the tax you have paid etc.

I believe that if you have over or underpaid you send you either a refund or a request for the additional payment.

If you work for someone else then it should all be done automatically through PAYE or pay as you earn.