VAT rule-breakers have until 30 September to register to pay what they owe under an HM Revenue & Customs (HMRC) campaign. The new campaign focuses on individuals and businesses trading above the VAT registration threshold – a turnover of £73,000 – but who have not registered.

Research from Intuit, makers of QuickBooks financial management software for small businesses, has found that one month on from the VAT rate increase, small businesses in the UK have been largely unaffected despite widespread media hype. Two thirds (67%) of those surveyed confirmed that overall, the VAT increase has had no impact on their business.

Here are some of Intuit UK’s top tips for new (or not so new!) home business owners on how to save money and make money:

In early 2010 HMRC (Her Majesty's Revenue & Customs) served notice for a winding up petition against a small trading company. The company had ignored HMRC for three years and had not submitted accounts for three years, not since 2007. A director attended the winding up hearing in court unrepresented. He said he was trying to reach agreement with the Revenue and was granted 3 weeks stay of execution.

Owing Her Majesty's Revenue & Customs (HMRC) more than £150,000 for overdue VAT and PAYE when your turnover is less than £3 million is not uncommon in 2010.

A more extreme example of HMRC arrears was a labour service company that owed in excess of £100,000 having set on more staff but left PAYE unpaid while it grew to a turnover of £1 million. The HMRC reliance on P35 annual returns for reconciling receipts with PAYE deductions has made it easier for companies to accumulate PAYE arrears that eventually catch up with them.

Self-employed taxpayers are taxed purely on their profits, whether or not they take the profits and spend them or plough them back into the business. Unlike a limited company, therefore, there are fewer opportunities for tax planning, but that's not to say that tax savings are not possible. Here are some ideas:

1. 'Think Business' for Expenses.