Tax Tips & News

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01/08/2021

August Tax Tips & News

Welcome to the Lawrence & Co Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Latest news round-up

COVID-19

From 1 August the government contribution will fall to 60%, meaning the employer will need to pay 20% to ensure the employee receives their entitlement of 80% (subject to a £2,500 per month). This will remain in place unti Read More...
 
Investors' Relief - the forgotten CGT break?Invalid VAT invoices
Investors' Relief (IR) was introduced in April 2016 to complement what was then called entrepreneurs' relief. IR is intended to encourage outside investment into smaller entrepreneurial companies by those investors who may not wish to get involved with th..
Read More...
One of the fundamental requirements for re-claiming input tax on a VAT return is the need to have a valid VAT invoice. A valid invoice must include certain requisite information, such as details of the goods or services purchased, the VAT registration num..
Read More...
Tax-Free Childcare and summer activities
HMRC has issued a reminder to working parents that Tax-Free Childcare (TFC), the scheme the government phased in between 2017 and 2018, is not just for "traditional" childcare costs, such as regular hours after school during term time. It's also possible ..
Read More...
August Questions and AnswersAugust Key tax dates

Newsletter issue - August 2021.

1 - Due date for payment of Corporation Tax for accounting periods ending 31 October 2020

2 - P46 (Car) deadline for quarter to 5 July 2021

7 - Electronic VAT return and payment due for quarter ended 31 June 2021

16 - Claim deadline for employers for furlough days in July

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/8/2021

31 - Last date to submit PSA figures to HMRC in order to be advised of payable amount by payment deadline in October

About Us

Lawrence & Co Accountants are based in Harrow, offering local business owners and individuals a wide range of services.

All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website www.lawacc.co.uk for more information.

 
 

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