Tax Tips & News

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20/09/2021

September Tax Tips & News

Welcome to Davies Tracey’s Tax Tips & News, designed to keep you one step ahead of the taxman. We are committed to ensuring none of our clients pay a penny more in tax than is necessary and as such, this month’s news and tips include:

Click a link above to read an article, or skip straight to our regular content:

In addition to this newsletter, clients will have received / can expect information on various matters of current importance, including:

DT Protect, our tax investigation service – click here for more information
The Self-Employment Income Support Scheme fifth grant – click here for more information
OneClick, our new secure online client area  – click here for more information
September event: ‘Employment Law Changes’ – click here for more information

If you then have any questions on any topics covered in this newsletter, please give us a call for answers.

We’re here to help – on 01642 606003.

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...
 
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...
 
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...
 
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...
 
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...
 
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...
 
About Us

Davies Tracey Accountants are based in Tees Valley, offering local business owners and individuals a wide range of services. All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website daviestracey.co.uk for more information.

 

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