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01/07/2019

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!

Capital allowances SBA update
HM Treasury and HMRC have recently published a summary and response document relating to the consultation on a new capital allowance for structures and buildings (SBA). Broadly, the SBA allows businesses that invest in new builds or renovations on or afte Read More...
 
HMRC clarify VAT zero-rating of transport of disabled passengersTax-free childcare - don't miss out!
HMRC have issued Brief 3 (2019), which aims to clarify that the Department's policy on the scope of the VAT zero rate for transport services has not changes following the Upper Tribunal (UT) decision in Jigsaw Medical Services Ltd (2018) UKUT 0222...
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HMRC are currently running a campaign to remind people that they could get up to £2,000 per child, per year, towards childcare costs. Broadly, eligible parents/guardians may receive government top-ups of £2 for every £8 that they pay int..
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Tax-efficient remuneration with pension contributions
Tax relief is generally available on pension contributions at the taxpayer's highest rate of income tax paid, meaning that basic rate taxpayers get relief on contributions at 20%, higher rate taxpayers at 40%, and additional rate taxpayers at 45%. In Scot..
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July questions and answersJuly Key tax dates

Newsletter issue - July 2019.

5 - Deadline for PAYE settlement agreement for 2018/19

6 - Deadline for 2018/19 forms P11D and P11D(b) to be submitted and copies of P11D to be issued to relevant employees
Deadline for employers to report share incentives for 2018/19

14 - Return and Payment of CT61 tax due for quarter to 30 June 2019

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/7/2019 or quarter 1 of 2018/19 for small employers
Class 1A NIC due in respect of the tax year 2018/19

31 - Second self assessment payment on account due for 2018/19; Second 5% penalty surcharge on any 2017/18 outstanding tax due on 31 January 2019 still unpaid
Penalty of 5% of tax due or £300, whichever is greater for 2017/18 personal tax returns still not filed
Deadline for Tax Credits to finalise claims for 2018/19 and renew claims for 2019/20
Half yearly Class 2 NIC payment due

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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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