With rare exceptions, once the end of the tax year has passed, tax planning options to reduce liability are no longer possible. For Income Tax and Capital Gains Tax purposes, this means that the majority of the tax reduction options will cease unless actioned before…
Category: Uncategorised
Beware overtrading
If politicians have it right, we may be approaching the end of the major disruption to economic activity of the past two years. Which is great news for those trades badly affected by continuing lockdown and other restrictions. Unfortunately, rapid growth following a long period…
Tax Diary February/March 2022
1 February 2022 - Due date for Corporation Tax payable for the year ended 30 April 2021. 19 February 2022 - PAYE and NIC deductions due for month ended 5 February 2022 (If you pay your tax electronically the due date is 22 February 2022).…
One-third of self-assessment returns still to be filed
HMRC has confirmed that four million out of twelve point two million taxpayers have yet to file their 2020-21 self-assessment tax returns. Which means that an equivalent proportion of taxes due 31 January 2022 will remain unpaid; at least for the foreseeable future. We have…