Tax Tips & News

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01/10/2021

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!

Latest news round-up
Rumours of an imminent rise in NI rates started to circulate at the beginning of September, and were confirmed on 7 September with the publication of the government policy paper Build Back Better: Our Plan for Health and Social Care. Read More...
 
Preserving FHL status for 2020/21Freeports - the tax breaks
A qualifying furnished holiday let (FHL) enjoys a number of favourable tax breaks - including business asset disposal relief, and the ability to claim capital allowances and rollover relief - when compared with non-qualifying properties...
Read More...
Eight new Freeports were announced earlier this year, with each offering operators within the sites a number of tax incentives. The sites are:..
Read More...
Buying a commercial building
When buying a commercial building, the price may include VAT if the vendor has opted to tax the property. If the buyer is VAT registered and will be using the building wholly for the purposes of the trade it will be able to reclaim this input tax...
Read More...
October Questions and AnswersOctober Key tax dates

Newsletter issue - October 2021

1 - Due date for payment of Corporation Tax for accounting periods ending 31 December 2020

5 - Deadline to notify HMRC of tax liability where not already in self-assessment

7 - Electronic VAT return and payment due for quarter ended 31 August 2021

14 - Claim deadline for employers for furlough days in September

14 - Quarterly CT61 form due

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/10/2021

22 - Payment deadline for Class 1B NI on PAYE settlement agreements for 2020/21

31 - Paper self-assessment return filing deadline

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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