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01/10/2022 |
October Tax Tips & News
Welcome to the Capitax Financial 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!
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| Mini Budget Summary |
| On 23 September 2022 in what has been termed a 'mini budget/fiscal event' the new Chancellor, Kwasi Kwarteng, delivered a package of more than 30 measures intended to tackle high energy bills, drive down inflation and cut taxes to drive growth. Read More... |
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| Landlords - make sure you claim all the expenses you can. |
| Whatever the reason for becoming a landlord, expenses will be incurred relating to that property at some time or another. Unfortunately, just because a payment has been made does not necessarily mean it is allowable for tax. Even if the payment is allowab Read More... |
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| Which VAT scheme to use? |
| Most businesses know that once the tax turnover for a business exceeds the VAT registration threshold (currently £85,000 a year), or it is expected to do so within the next 30 days, VAT registration is compulsory. Some businesses are not required to regis Read More... |
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| Are you too late to claim a tax repayment? |
| Claims for repayment of tax are usually made via submission of a tax return, e.g. a self-assessment repayment claim is by completion of the section on page TR7. Whether as an individual or a company the time limit for amending a tax return is usually one Read More... |
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| October Questions and Answers |
| Q. My company does not have a credit card and therefore I use my own personal credit card to pay for some expenses - particularly any purchases made online as a credit card gives an extra layer of protection. I also use the card for some personal expenses Read More... |
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| October Key Tax Dates |
| 1 -Corporation Tax payment 31 December 2021 year-end
5 -Deadline to notify HMRC of 2021/22 tax liability where returns are not currently submitted.
A penalty can be avoided if the tax owed is paid no later than 31?January 2023.
7 - Electronic VAT Read More... |
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| About Us |
Capitax Financial is an independent and forward-thinking firm of Chartered Accountants, Tax Consultants and Business Advisors based in North West London (Stanmore, Harrow). We provide a full range of accounting, tax and business services to a wide range of UK and International clients, whether they are private individuals, entrepreneurs, investors, families, partnerships or corporate clients. Visit our website capitaxfinancial.com for more information.
Best wishes,
Samir Shah BFP FCA (samir@capitaxfinancial.com)
Director
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Capitax Financial Ltd
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
Capitax Financial is a trading name of Capitax Financial Ltd
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