1 July 2014 - Due date for Corporation Tax due for the year ended 30 September 2013. 6 July 2014 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2014 - Pay Class 1A NICs (by the 22 July 2014 if paid electronically). 19 July 2014 - PAYE and Continue Reading
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Replacement of white goods items in unfurnished, let property
This reminder will affect landlords of unfurnished let property who are considering the replacement of standalone white goods (fridges etc) and similar items. Following the withdrawal of a tax concession from April 2013, there is effectively no tax relief for the replacement of defective, free-standing white goods in unfurnished properties. In some respects this absence of relief is difficult to Continue Reading
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Penalty for just one day
Consider the following facts: The filing deadline for a Stamp Duty Land Tax return was a Sunday. A member of the advisor’s staff forgot to file the return by the end of the Friday – two days before the deadline. Realising their mistake, the staff member took the file home with the intention of filing over the weekend. Due to Continue Reading
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Discontinuance of trade and the Annual Investment Allowance (AIA)
In a recently decided tax case a self-employed air conditioning engineer, David Keyl, was denied a claim for AIA. He had purchased a van in July 2008 and on 31 March 2009 (the end of his trading year) he transferred his sole trader business to a limited company. Unfortunately, the legislation setting up the AIA includes a provision that relief Continue Reading
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