Day: 3 August 2021

1 August 2021 - Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 - PAYE and NIC deductions due for month ended 5 August 2021. (If you pay your tax electronically the due date is 22 August 2021)…

You can claim up to £1,000 each tax year in tax-free allowances for property or trading income. If you have both types of income, you will qualify for a £1,000 allowance for each. If your annual gross property income is £1,000 or less, from one…

Charity sponsorship payments are different from donations because your company gets something related to your business in return. Typically, your business brand would be promoted by the charity in some way. You can deduct sponsorship payments from your business profits before you pay tax by…

Expenditure on business entertainment is not allowable as a deduction against profits. Nor may a deduction be made for any expenditure which is incidental to business entertainment. The meaning of ‘incidental’ is not defined by HMRC but should be interpreted to mean any expenditure that…