This document provides a summary of taxes in the UK, including income tax, corporation tax, VAT, and how to spread the costs of taxes through financing options from White Oak UK. It defines each major tax, how often payments are due, and tips for tax filing and claiming deductions. White Oak UK offers short-term loans to help businesses pay tax bills in installments rather than a lump sum. The loans can be arranged quickly online and provide cash flow benefits over using cash reserves.

1. A simple guide
to TAX
Welcome
to the flipside
www.whiteoakuk.com
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2. Please note: This document is intended to give general information only, does not constitute advice and should not be relied upon.
Readers should take appropriate financial or taxation advice on any matters which concern them.
CONTENTS
What is tax? 4
Tax self-assesment
Why spread the cost of tax?
White Oak UK tax solutions
FAQs
Get in touch
6
8
10
12
14
Page 1

3. Accountant advice could pay for itself
TAX GUIDE TIPS.
Whilst it’s possible to do your taxes yourself, a
good accountant will often pay for themselves.
If you want to ensure that you’re claiming all
of the allowances you’re entitled to and that
you’re paying taxes on time, we would always
recommend you speak with your accountant for
the best advice.
Page 3

4. WHAT IS TAX?
Income Tax
How often do you pay it?
How often do you pay it?
Corporation Tax
Tax is a levy that is imposed by the government on a product, income or activity. There
are several different types of tax that businesses may be required to pay including:
Broadly speaking, Income Tax is paid on the profits that you make when you’re
self-employed (minus allowable business expenses, annual investment allowance,
capital allowances and losses). On an annual basis, you will be required to file a tax
return, also known as a ‘Self-Assessment’.
You will need to register for Self-Assessment with HMRC by 5th October before you can
get a tax return.
The self-assessment deadline to file your tax return each year is by midnight on 31st
January. If you make advance payments to your bill there will also be an additional
payment deadline of 31st July.
All UK limited companies, including foreign companies with a UK office are required to
pay corporation tax.Businesses trading as sole traders or partnerships are not required to
pay corporation tax, as they are subject to the annual self assessment tax regime.
Your company is required to complete a corporation tax return reach year, which is filed
with HMRC.
Page 4

5. Value Added Tax (VAT)
How often do you pay it?
Remember you will not be sent a bill for corporation tax, instead there are specific things you
must do to work out, pay and report your tax:
• Register for corporation tax when you start doing business or restart an inactive business.
• Keep records of your receipts and prepare a Company Tax Return to work out how much
corporation tax you will need to pay.
VAT is broadly a consumption tax applied to the sale of goods and services by UK
businesses and is collected at every stage of production and distribution. Most business-
related goods and services will be subject to VAT, with the standard rate currently set at
20%.
Companies should register for VAT if the value of their taxable supplies in a 12 month
period is greater than the annual threshold of £85,000, or you expect to go over the
threshold in a single 30 day period.
You will need to pay your VAT bill by the deadline shown on your VAT return.
TAX
TIPS
Housekeeping is vital
Keeping receipts and invoices for
expenditure as well as income
is essential – failure to do this
basic housekeeping could mean
that HMRC won’t allow you to
claim back expenses and could
ultimately lead to a higher tax bill.
Page 5

6. Online Self-Assesment TAX TIPS
Act now to file your tax return online
Gather all paperwork
Manage your time
You’ll need a Unique Taxpayer Reference Number (UTRN)
Don’t get side-tracked
Use the correct file types
Check your email
Make the most of your cash flow
Register your account quickly to ensure you don’t miss the deadline
Before you file your return, collect all paperwork P60, P11D or P9D
Ensure you have set aside enough time to complete the return
This 10-digit number can be found on your HMRC tax documentation
Close other website pages, ignore emails & social media notifications
Ensure your copies of accounts and calculations are in PDF format
Check for any HRMC correspondence that may affect your return
Spread the cost of your tax bill over 6, 10 or 12 months
Page 6

7. Making Tax Digital
Simplify your return by submitting online
According to HMRC, 89% of self-assessment tax returns are now made online. Released
in late 2015, the ‘Making Tax Digital’ campaign aims to simplify the tax process for many
small businesses by using ‘four foundations’:
1. Businesses won’t need to re-submit company information
Any information HMRC holds on their accounts can be accessed at anytime
2. Real-time reporting
Businesses should not have to wait until the end of the tax year or even longer before
knowing how much tax they should pay
3. Tax in one place
By 2020, users will be able to see all their financial information in one place. HMRC
have compared the system to an ‘online banking account’
4. Individual taxpayers to go digital
Delivering digital access to all individual taxpayers
In the first half of 2016, HMRC reported that the highest numbers of returns were just two
days before the January deadline reinforcing the need for the HMRC’s recent digital
campaign, ‘Making Tax Digital’.
TAX
TIPSSubmit on time
Get organised and make sure all
submissions are made on time – failure to do
so can result in hefty penalties.
Remember to add key dates to your
calendar!
Page 7

8. Benefits include:
SPREAD THE COST OF YOUR TAX
BILL WITH WHITE OAK UK
Tax bills are a costly expense for any business.
Whether you need a solution to fund the cost of Income / Personal Tax, Corporation Tax
or VAT, a short-term business loan from White Oak UK can help you regain control of your
cash flow and help you spread the cost of your tax demands.
• No initial large outlay
You can choose to pay in instalments rather than as a one-off payment
• Ability to invest in other areas of the business such as:
o Equipment
o Refurbishment
o Expansion
o Recruitment
“Over 52% of SMEs surveyed suggested that they
believe banks are not as business friendly as they
could be, so the need to support business growth
and investment is more important than ever before.”
77% of small businesses are
choosing alternative finance as
opposed to banks
Page 8

9. 2-3pm
20%
TAX STATS
10.39 million
92%
WE’VE BUSINESSES
THEIR TAX
BILL
TO FINANCE
ASSISTED
9,000
OVER...
1.14 million
submitted
of returns
submitted on time
on paper
Busiest hour
Corp Tax to be
cut to
by 202017%
On 1st April 2015, the
Corporation Tax main
rate was cut to 20%.
between
2-3pm - 50,000+
online self-assessment
filings made by
31st January
2016
Highest number of online returns made on Friday 29th January – over 500,000
Income Tax
6385
VAT Tax
1758
Corp Tax
£100m
Corp Tax
1484
Income Tax
£540m
VAT Tax
£395m
Page 9
2018 INDUSTRY AWARDS

10. Covering the cost of your HMRC Tax bill is a regular and considerable expense and
something an increasing number of businesses are choosing to finance.
A White Oak UK short-term loan is quick and easy to arrange, helping you to spread the
cost of your tax bill over a 6, 10, or 12-month term. We’ve eliminated the red tape from
our business, to make it faster and more convenient to get a loan.
Benefits include:
• Options to pay monthly or quarterly
• Loan in as little as 24 hours
• No red tape
• A dedicated Account Manager
• E-sign loan documents
* Payment can be made to you or sent directly to HMRC
WHITE OAK UK TAX LOANS
Application Made
9am
Application Approved
11am
12 noon
Documents signed & returned
1pm
Deal Processed
2pm
Payment made*
5pm
We’ve assisted thousands of businesses
to finance their tax bill.
Join them today at whiteoakuk.com
Page 10

11. Know your limits
Find out about any industry-specific
allowances available for your sector, as
well as general expenses that can be
reclaimed against corporation tax such
as travel, subsistence and mileage.
TAX
TIPS
“I regularly use White Oak UK to assist
with asset funding, licence funding and
tax funding; they are always quick,
efficient and generally easy to deal with.”
“The most efficient and hassle-free
business finance out there ”
Page 11
KDG - Gareth Davies, Principal
Boulter & Co

12. FREQUENTLY ASKED QUESTIONS
Weird excuses for late tax returns
What finance options are available to me?
What can a Business Loan be used for?
Why would I not use cash?
Isn’t my bank the best source of finance?
You can access a Short Term Business Loan to finance your tax and VAT repayments.
Dependant on the Loan type there are numerous purposes that a White Oak UK
Business Loan can facilitate. This includes Acquisitions, Building Renovations, Cash
Flow, Stock Purchases and Tax Loans.
Capital is a valuable asset itself in a business. By using finance, you can have little
impact on cash flow as well as accelerating the return on investment quickly.
Why not hold onto your valuable capital and invest it in other areas of growth
(such as acquisitions, increasing sales heads, training etc.) that will not benefit from
the same incentives.
Whilst bank finance plays an important role in business growth, access to finance
remains an area of difficulty for some businesses. Additionally, the variety of
available facilities may not always match that of a corporate finance company.
With businesses looking for rapid and often alternative solutions to business
investment, many will now look to facilities provided outside of traditional
banking options.
I couldn’t file on time as my
partners been seeing aliens and
won’t let me entre the house
Page 12

13. Does business trading performance limit options to finance?
How long does it take to arrange finance through
White Oak UK?
How can I discuss finance or obtain a quotation?
We can provide access to access to finance for all business stages and performance,
whether a new start, well established, or small or large company. We primarily review
the credit history of your business and its financial performance.
We aim to provide finance by simply matching the risk vs. return on capital, this way we
hold excellent acceptance rates and help more and more businesses to grow rather
than turning them away.
The main driving factor behind this is the amount of finance being applied for. Our
internal systems and supplier platforms enable our processing to be incredibly efficient.
If all parties are fully aligned, it is possible to complete a full transaction from proposal to
signed documents and pay-out within one working day.
We would recommend speaking to us directly to discuss your business finance needs,
alternatively you can find a wealth of information online at White Oak UK.co.uk
I had a run-in with a cow
Weird excuses for late tax returns
Page 13

14. FIND OUT HOW WHITE OAK UK CAN
HELP YOUR BUSINESS SPREAD THE
COST OF YOUR TAX BILLS: whiteoakuk.com/tax
White Oak UK is a trading style of LDF Operations Limited (Reg No: 02029122), LDF Finance No.1 Limited (Reg No: 04893877), LDF Finance No.2 Limited (Reg No: 08822802) and
LDF Finance No.3 Limited (Reg No: 08822799), incorporated in England & Wales and having Registered Office at Dee House, St David’s Park, Ewloe, Flintshire, CH5 3XF. LDF
Ops Limited (Reg No: SC198910), incorporated in Scotland and having its Registered Office at Sixth Floor, 58 Waterloo Street, Glasgow, G2 7DA. Authorised and regulated by
the Financial Conduct Authority for credit-related regulated activities (including hiring).
CONTACT
White Oak UK
0330 311 1821
www.whiteoakuk.com