Tax Tips & News

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01/07/2012

July 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!

Tax Campaigns Update
The Taxman is determined to target tax evaders, so has been running several campaigns to target particular business sectors, such as doctors, electricians and e-traders. Read More...
 
Company Money in Personal AccountVAT Opting to Tax on Buildings
Here's a nice problem to have: your company holds a lot of money, but you want to leave it there for now. Perhaps you don't want to be taxed personally if you take the money out of the company. The company may also have long-term plans for the funds..
Read More...
Buildings are generally exempt from VAT, but there are a lot of exceptions to this. A person who holds an interest in a building..
Read More...
Homes Worth Over 2 million pounds!
The Government wants to clamp down on tax avoidance by people who purchase their homes through companies, or other structures like trusts or partnerships, (known as non-natural persons)...
Read More...
July Question and Answer SectionJuly Key Tax Dates

Newsletter issue - July 2012.

5 - Deadline for PAYE settlement agreement for 2011/12

6 - Deadline for 2011/12 forms P11Db, P11D and P9D to be submitted and copies of P11D and P9D to be issued to relevant employees
Deadline for employers to report share incentives for 2011/12 - form 42

14 - Return and Payment of CT61 tax due for quarter to 30 June 2012

19/22 - PAYE/NIC and CIS deductions due for month to 5/7/2012 or quarter 1 of 2012/13 for small employers

19 - Class 1A NIC due in respect of the tax year 2011/12

31 - Second self assessment payment on account due for 2011/12.
Second 5% penalty surcharge on any 2010/11 outstanding tax due on 31 January 2012 still unpaid
Deadline for Tax Credits to finalise claims for 2011/12 and renew claims for 2012/13
Half yearly Class 2 NIC payment due
Penalty of 5% of tax due or £300, whichever is greater for 2010/11 personal tax returns still not filed

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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