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The total value of all sales.
The cost of items purchased to sell.
The cost of wages.
The cost of all admin and any other costs.
The total value of all other income.
Note: These calculations are only for illustrative purposes and are not a substitute for professional advice.
29 Jun 2026
The government's preferred proposal in HMRC's consultation into VAT compliance should close a tax loophole while protecting small businesses, says the Federation of Small Businesses (FSB).
26 Jun 2026
A new counter-fraud squad has launched investigations against those who defrauded the public during the Covid pandemic, the Treasury has announced.
25 Jun 2026
The tax gap rose to a record high of £59.2 billion in cash terms for 2024/25, according to the latest data from HMRC.
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