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01/09/2021 |
September 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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| Latest news round-up |
| September is the final month of the furlough scheme, subject to any last-minute extension. Employers will need to top up the government's contribution, which is now 60% of wages (up to a maximum cap of £1,875) to ensure the employee receives the requisite Read More... |
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| Loss relief for companies ceasing a trade |
| Companies are able to relieve losses for tax purposes, subject to certain restrictions. These restrictions have been relaxed slightly in recent years, e.g. allowing companies to claim trading losses against other profits for future trading years. Read More... |
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| HMRC enquiries: is it in time? |
| The self-assessment system includes the right for HMRC to make enquiries to ensure the correct amount of tax is collected. However, these rights and the underlying time limits etc. are often a source of confusion. They have changed since self-assessment w Read More... |
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| Inheritance tax - why giving away money can mean more for the beneficiaries |
| In most cases, it doesn't make sense to simply give away money to save tax during a person's lifetime. For example, a higher rate taxpayer can claim tax relief to offset their income tax bill on qualifying donations made via the gift aid scheme. Read More... |
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| September Questions and Answers |
| Q. I am an IT consultant that has just returned from Jersey where I was undertaking some work for the government. I want to raise my invoice now, but don't know whether to add VAT or not following Brexit? Read More... |
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| September Key tax dates |
| 1 - Due date for payment of Corporation Tax for accounting periods ending 30 November 2020
7 - Electronic VAT return and payment due for quarter ended 31 July 2021
14 – Claim deadline for employers for furlough days in August
19/22 - PAYE/NIC, student 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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