**For London Borough of Hounslow based businesses only**

Understanding Tax and VAT , delivered by The Real Business Club

This workshop will be delivered in two parts across two consecutive weeks. This booking counts for both parts of the workshop

Session 1: Thursday 14th May 2020

Session 2: Thursday 21st May 2020

Learn the most up to date knowledge for your day to day finances and make accurate basis for long term financial decisions, even in these times.

Both workshops give a firm foundation for managing and planning money. Even if you already have a bookkeeper or accountant, these workshops will help you know more about your finances.

Change the way you view your finances and learn to make decisions with confidence.

Session 1:

Main Topics

• Clarity on the current rules in Government schemes including for Directors, sole traders, employees/ sub contractors, furloughing and expenses update.
• Know the correct guidance from HMRC including on deadlines to apply for schemes.
• Understand tax bands and rates and why you tax plan
• Be confident in the way expenses are claimed

Expected Outcomes

• You will have clarity on what you can claim for, and what options you have.
• You will be able to evaluate how the current situation will have an impact on your business and best ways to handle
• Be able to use your tax allowances efficiently
• Know how much to save money for your tax bill and for yourself

Session 2:

Main Topics

• NI contributions and implications of recent changes
• Tax timelines and making well timed spending choices
• VAT how it works and whether it benefits you to be registered
• VAT record keeping that is required
• PAYE Benefits and paying employees

Expected Outcomes

• Know if you will entitled to a state pension
• Know that your Payroll is working right for you
• Be clear on paying and claiming VAT back from HMRC
• Know what PAYE benefits will be useful to include

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