Understanding tax requirements is one of the frustrating and confusing parts of starting your own small business. But this week HMRC is hoping to lend a helping hand to small businesses in order to help them get their tax affairs in order.
Starting today, HMRC is taking to Twitter for a week-long Q&A session. HMRC will advise Twitter users on issues such as record-keeping, starting a company, and the upcoming real-time information (RTI) changes to PAYE tax.
David Gauke, Exchequer Secretary to the Treasury, said: “Small businesses and start-ups are the life blood of the economy. HMRC is dedicated to reducing the burden on small businesses and making the tax system simpler, more efficient and fairer. This interactive week will offer support and help to new and growing businesses in an innovative way.”
To get interactive tax advice, Twitter users should follow @HMRCgovuk and ask questions using the hashtag #biztaxhelp.
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