Tax Diary July/August 2017

Jul 05, 2017

1 July 2017 - Due date for Corporation Tax due for the year ended 30 September 2016.

6 July 2017 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class…

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Investing in your business is still tax effective

Jun 29, 2017

If you crunch the numbers, and decide that investing in new technology, a new van, or other equipment will make a positive difference to your bottom line profits, and in a reasonable time-frame, the…

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When do NIC contributions stop

Jun 27, 2017

You are required to make National Insurance Contributions on your earnings, whether employed or self-employed, until you reach the State Retirement Age.

The only exception is if you qualify…

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Need help joining the digital age

Jun 22, 2017

Computers are not everyone’s cup of tea. In fact, there are very few of us who can declare with some confidence that we are computer literate.

Unfortunately, there does seem to be a drive to…

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National Insurance exemption

Jun 20, 2017

Employers, or more specifically, the persons in charge of processing their payroll, are hopefully checking the box to claim the National Insurance Employment Allowance (EA)?

The EA reduces the…

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Making the most of opportunity

Jun 15, 2017

There are a number of ways that director shareholders of private companies can withdraw funds from their businesses. We have listed below a number of options, the list is not exhaustive, but the points…

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Oh what a night

Jun 13, 2017

It is fair to conclude that Mrs May’s ambitions suffered a set-back Thursday last week. She is now attempting to manage a minority government, and Brexit apart, there are other outstanding legislative…

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Recovery of VAT after deregistration

Jun 08, 2017

Last week we discussed in this blog, how to recover VAT paid prior to registering for VAT.

This week we are going to sketch out the reverse position: how to reclaim VAT after you have deregistered.

According…

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The hidden tax on car benefits for employers

Jun 06, 2017

Businesses that provide employees with taxable benefits: company cars, health insurance and so on, will be aware that a benefit in kind charge is added to the employee’s income and subjected to an income…

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