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Tax Tips and News

  • Mini Budget Summary

    Newsletter issue – October 2022 A mini budget for growth On 23 September 2022 in what has been termed a 'mini budget/fiscal event' the new Chancellor, Kwasi Kwarteng, delivered a package of more than 30 measures intended to tackle high energy bills, drive down inflation and cut taxes to drive growth. The proposal that stood…Read More

  • Are you too late to claim a tax repayment?

    Newsletter issue – October 2022 Claims for repayment of tax are usually made via submission of a tax return, e.g. a self-assessment repayment claim is made by completion of the section on page TR7. Whether as an individual or a company the time limit for amending a tax return is usually one year from the…Read More

  • Landlords - make sure you claim all the expenses you can.

    Newsletter issue – October 2022 Whatever the reason for becoming a landlord, expenses will be incurred relating to that property at some time or another. Unfortunately, just because a payment has been made does not necessarily mean it is allowable for tax. Even if the payment is allowable, when tax relief can be claimed depends…Read More

  • Which VAT scheme to use?

    Newsletter issue – October 2022 Most businesses know that once the tax turnover for a business exceeds the VAT registration threshold (currently £85,000 a year), or it is expected to do so within the next 30 days, VAT registration is compulsory. Some businesses are not required to register (e.g. those offering education and training and…Read More

  • October Questions and Answers

    Newsletter issue – October 2022 Q. My company does not have a credit card and therefore I use my own personal credit card to pay for some expenses - particularly any purchases made online as a credit card gives an extra layer of protection. I also use the card for some personal expenses. Every month…Read More

  • October Key Tax Dates

    Newsletter issue – October 2022 1 -Corporation Tax payment 31 December 2021 year-end 5 -Deadline to notify HMRC of 2021/22 tax liability where returns are not currently submitted. A penalty can be avoided if the tax owed is paid no later than 31?January 2023. 7 - Electronic VAT return and payment due for the VAT…Read More

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