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The Tax Guide for Small Businesses and Startups

The Tax Guide for Small Businesses and Startups

30

April

2021

The evolution of social media over the last decade has led to the rise of start up businesses and entrepreneurs marketing and selling through social media platforms.

The industry of marketing and selling in this manner has an estimated worth of between £5 – £10 billion as of 2020.

As a result HM Revenue and Customs (HMRC) have placed the entire industry, along with their tax returns, under the microscope to ensure that all declarations are filed accurately and correctly.

Toast have created this guide for anyone who generates any form of income from having an online presence. It will inform you of your responsibilities relating to HMRC and your tax liabilities.

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