Tax Tips & News

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01/10/2020

October 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!

Covid-19: Government unveils winter economy plan
Chancellor Rishi Sunak has unveiled the Government's winter economy plan, providing an update on current coronavirus support measures for individuals and businesses, and announcing the launch of a new Job Support Scheme. Read More...
 
Kickstart for employersCan I get a Customs grant?
Under the new Kickstart programme, the Government hopes to create roles for as many as 250,000 young people who are currently receiving Universal Credit (UC)...
Read More...
Businesses need to prepare ahead of new Customs procedures coming into play in 2021 when the Brexit transition period ends. The Government has made funding available in the form of a grant to help..
Read More...
VAT: changes to accounting methods used by opticians and sellers of hearing aids
HMRC have published Brief 14 (2020), which covers changes to the methods used by opticians and sellers of hearing aids to account for VAT on their supplies...
Read More...
October questions and answersOctober 2020 Key tax dates

Newsletter issue - October 2020

1 - Due date for payment of Corporation Tax for the year ended 31 December 2019

5 - If a Tax Return has not been received, individuals and trustees must notify HMRC of new sources of income and chargeability in 2019/20

14 - Return and payment of CT61 tax due for quarter to 30 September 2020

19 - Tax and Class 1B national insurance due on PAYE settlements for 2019/20

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/10/2020 or quarter 2 of 2020/21 for small employers

31 - Deadline for 2019/20 self assessment paper returns to be filed for HMRC to do the tax calculation. If a paper return is being filed also the deadline for tax underpaid to be collected by adjustment to your 2021/22 PAYE code (for underpayments of up to £3,000 only)

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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