Tax Diary July/August 2017
1 July 2017 - Due date for Corporation Tax due for the year ended 30 September 2016.
McLaren racing team lose tax appeal
It is a well-established feature of previous judgements that a fine imposed to punish an organisation should not be treated as tax deductible – the tax relief secured would effectively share out the burden of the punishment with the rest of the taxpaying community.
Landlords bear the brunt of recent tax changes
Recent budgets have done little to improve the financial position of landlords. One change stands out above the rest: the loss of higher rate tax relief on finance charges.
Making Tax Digital - are we making progress?
There is evidence that HMRC’s Making Tax Digital (MTD) implementation team are working with advisors and their clients to beta test the computer systems that will drive the quarterly upload process when it is timed to begin April 2018.
Tax Diary June/July 2017
1 June 2017 - Due date for Corporation Tax due for the year ended 31 August 2016.
What Happens if You Can’t Pay Your Tax on Time?
Following on from the previous article, we thought readers might be interested in the consequences if they fail to pay their Self Assessment tax on time.
Tax Due Next Month
Are you self-employed? If you are, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017. This second payment on account will have been based on 50% of your combined Self Assessment tax and Class 4 NIC liability for 2015-16. Which raises an interesting question.