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| 01/02/2022 | |||||
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| VAT - charged too much? | Does an employee loan always need reporting to HMRC? |
| Suppose that a business has been paying its suppliers' invoices for many years without really giving too much thought to the VAT being applied. The business engages an accountant to assist with its VAT returns due to an increase in business activity... Read More... | Employee loans are an area where businesses often get confused. The first thing many owners will think of is the temporary corporation tax charge under s. 455. However, that only applies if the loanee is a participator of a close company... Read More... |
| Holdover relief tax trap |
| Some small company owners bring in adult children to take over the day to day running of the business as they approach retirement. There are many strategies used in practice. One may be to appoint the children as directors, while maintaining overall contr.. Read More... |
| February Questions and Answers | February Key tax dates |
Newsletter issue - February 2022 1 - Due date for payment of Corporation Tax for accounting periods ending 30 April 2021 7 - Electronic VAT return and payment due for quarter ended 31 December 2021 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/2/2022 28 - Deadline for electronic filing of self-assessment returns for 2020/21 before incurring late filing penalty following extension announced in January 2022 |
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