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| Reverse charge for building services imminent | First-year allowances for zero emission cars to continue |
| After two delays, the new rules for certain building services will finally take effect from 1 March 2021. Under the current rules, a business (for example a builder) will add VAT to their sales invoices passed to their customers, and then account for this.. Read More... | There was some confusion when Finance Act 2020 was published. The government had announced that it would be extending the current enhanced 100% first-year allowance (FYA) available for zero-emission vehicles. However, when the legislation was published th.. Read More... |
| HMRC launches UK VAT number checking tool |
| Following the UK’s exit from the European Union, VAT registration details of UK companies will no longer be maintained on the VAT Information Exchange System (VIES). Being able to check the validity of a new supplier’s VAT number is an important step in c.. Read More... |
| January questions and answers | January Key tax dates |
Newsletter issue - January 2021 1 - Due date for payment of Corporation Tax for accounting periods ending 31 March 2020 7 - Electronic VAT return and payment due for quarter ended 30 November 2020 14 - Filing deadline for form CT61 to report interest payments in quarter ended 31 December 2020 14 - Deadline for employers to make a claim for furlough days in December. 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/1/2021 29 - Deadline for filing claim for third Self-Employment Income Support Scheme. 31 - Electronic filing deadline for 2019/20 self-assessment returns for individuals, partnerships and trusts. Payment deadline for any balance of liability from these returns, and any first payment on account due for 2020/21 31 - Standard deadline for amending 2018/19 returns. Also, last date to file overdue 2018/19 return without incurring a minimum penalty of £300, and last date to pay any tax for 2018/19 overdue before incurring a further 5% penalty |
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