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24 of 24 people found the following review helpful
I'm a self-employed writer, so my tax situation has never fitted easily into the usual boxes. Wanting to conduct my business on the up-and-up, I've hired three different accountants since I moved to the UK, and each of them let me down -- each in their own expensive way.

This time around, I'm doing my own taxes. The confidence I got from reading Teach Yourself: Understanding Tax for Small Business alone inspired me to look into my account on the HMRC website, and I'm glad I did: I discovered an underpayment of £350 and that my address was outdated. Thank you, ex-accountant! Because of this, I've been able to take care of the shortfall in advance instead of being surprised in July.

Then there's the substance of this book, which is excellent. From the page layout to the plain English it's written in, it's totally approachable. In just a few places it dips into accountant-speak terminology, and the sections on pension relief and revenue expenses -- the two things I was most curious about -- were a bit thin and difficult to decipher. But as a general introduction to the subject, it still an excellent work. I feel comfortable now approaching HMRC's forms (which themselves are well-explained), and instead of facing a mountain of intimidating confusion, I now know exactly what I need to learn more about. Then I can file my own return, and keep abreast of exactly what's happening in my business's financial life.

For all that, I'm extremely grateful to the author of this book. For anyone who's self-employed, I would strongly recommend reading this book and learning the principles it puts forward, even if you plan to use an accountant. Money mistakes -- especially those that relate to the government -- are the surest way to suck all the fun out of having your own independent business.
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8 of 8 people found the following review helpful
on 9 May 2011
I have run a one man limited company for several years and although I can submit my VAT return and PAYE I have left everything else to my accountant. I wanted to understand more about corporation tax and dividends so that I didn't get a nasty surprise at the end of the year regarding tax liabilities. This book is perfect. It is well laid out and easy to read with a number of sample situations. It contains information for both limited companies and sole traders. I would definitely recommend it. I will certainly not be dispensing with my accountant but I am much clearer on how business taxes are calculated and also the impact it has on my own personal tax.
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3 of 3 people found the following review helpful
on 14 October 2011
.... for beginners to get an idea how the tax system works. I think this is essential reading for everyone who starts a small business - even when using an external accountant.
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7 of 8 people found the following review helpful
on 10 February 2011
I recently bought this book after moving away from managed accounting. I have found it to be a clear, informative and to the point read with detailed and accurate reports on various tax topics. I especially like how the author approaches certain areas in the tax law and tries to provide an assessment of risk involved in each action a trading entity could take rather than a "do it this way" approach I have seen so many times before. It covers trading as a sole-trader right up to a limited company, with everything receiving equal coverage. Bottom line is that reading just the first 3 chapters in this book have made me feel much more confident about tax and I wish I had read it sooner. I'm actually excited to keep reading too, which is odd considering the book is about tax.
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1 of 1 people found the following review helpful
on 12 December 2011
This book is a must for any small business owner. I have a one person ltd company, i have a bookeeper and an accountant... but felt a little uneasy with putting blind faith in them - this book has proved invaluable. It is ridiculously good value, is written in an easy to understand fashion with clearly illustrated examples.

I really like:
1) You can dip in and out as required.
2) Each chapter has a key points summary
3) Any time any figures are quoted they are dated so you can see how relevant the calculations are.

If you are a tax professional or well versed in business tax law then it will be of no interest. Otherwise - it's a must read
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3 of 4 people found the following review helpful
I bought this out of curiosity to see whether it could satisfactorily explain how Dividends are taxed, the logic of which with it's peculiar fractions and Tax Credits - has baffled me unless I see a worked example. I didn't need a semi-professional guide of the type produced by st James' Place and Tolleys etc, so this fitted my budget nicely.

Well, I'm pleased to say that the book passed and the penny dropped!

I guess I can now use it to gen up on other topics and speak with authority at dinner parties etc.
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on 8 May 2015
Good book, goes into a lot of detail. Only thing that was annoying was that I found it difficult to keep track of what applied to sole traders and limited companies sometimes which meant having to go back and re-read things. I think it's very heavily sole trader focused though.
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on 20 August 2015
Not sure that tax for an idiot is available. This book does tell you what you need to know, and it gave me enough to do what I needed to do. Fortuantely I do not need to know it in depth.
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on 26 February 2014
Excellent all round. Great service.Great communication. A pleasure to do business with.Hope to deal with you again. Very happy with my purchase.Thank You!!!
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on 4 December 2011
Yes, it's a very dry subject, but I still found this a little dull and a bit difficult for a novice. I want the very basic book for the complete idiot.
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