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Brief
On 05/12/2024, the "HM Revenue & Customs (HMRC)" issued an update regarding "New support for Small Business from HMRC". The HMRC has launched a new interactive online tool and clearer guidance to help individuals understand their tax responsibilities as self-employed or sole traders. This free resource is available on GOV.UK and includes tools such as the VAT Registration Estimator, which helps businesses determine if they need to register for Value-Added Tax (VAT).
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