| VAT Penalties |
| If you pay your VAT late to HMRC, even one day late, your card will be marked for a VAT penalty called a "default surcharge". The first late payment doesn't attract a monetary penalty, but the second occasion on which you are late within 12 mont Read More... |
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| IHT Relief on Business Assets | CGT on Home Developments | | Inheritance tax (IHT) is payable at 40% on the net value of the assets you own when you die, plus (to a certain extent) on the value of the gifts you made in the seven years before you die. The first £325,000 of assets is currently exempt from IHT i.. Read More... | Your main home is exempt from capital gains tax when you sell it, but only if you bought the property with the intention of living in it on a permanent basis, not as a project to renovate and sell. People who are required to live in job related accommodat.. Read More... |
| Non-Resident Landlords | | If you leave the UK and let your property here, your letting agent (or the tenant where there is no agent) should deduct basic rate (20%) tax from the rents paid after deduction of certain expenses, under the non-resident landlord scheme (NRL). This ensur.. Read More... |
| February Question and Answer Section | February Key Tax Dates | | Newsletter issue - February 2014
2 - Last day for car change notifications in the quarter to 5 January - Use P46 Car
19/22 - PAYE/NIC and CIS deductions due for month to 5/2/2014
28 - Talk to us about year end and pre-budget planning
First 5% penalty surcharge on any 2012/13 outstanding tax due on 31 January 2014 still unpaid |
| 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 https://lawacc.co.uk/ for more information.
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Copyright © 2025 Lawrence & Co. All rights reserved.
Unit 205, Cervantes House
5-9 Headstone Road
Harrow
HA1 1PD
Lawrence & Co is a trading name of Lawrence & Co
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