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01/12/2020

December Tax Tips & News

Welcome to the Davies Tracey 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!

Finance Bill 2021 and other changes

Although there is no official Budget statement this Autumn, HMRC have published details of a series of measures affecting tax. Some of the changes will take place straight away or from April 2021, others are to be consulted on and included in draft Financ Read More...

HMRC encourage businesses to register for the Trader Support Service

The Government is urging businesses to sign up to the Trader Support Service (TSS) before the end of the Brexit transition period. The new service provides a free-to-use digital platform to help businesses and traders of all sizes navigate the upcoming ch Read More...

Directors' loans - a reminder of the tax charge

Cash transactions between a director and a personal or family company are recorded through the director’s account. At the end of an accounting period, if the director owes the company money (ie the account is considered overdrawn), and the company is clos Read More...

Gift Aid tax relief

This year, many charities have been heavily impacted by the coronavirus pandemic and have struggled to raise funds. Highlighting the prospects of tax reliefs on donations is one way to encourage gifts. Broadly, the government’s Gift Aid scheme is designed Read More...

December questions and answers

. I am currently in the process of purchasing a property which includes a separate granny annex. Since there is only one title number for the whole property, can I apply for stamp duty land tax multiple dwelling relief (MDR)? Since 1 April 2018 SDLT appli Read More...

December Key tax dates

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2020 30 - Deadline for 2019/20 self assessment online returns to be filed if you are an employee and want tax underpaid to be collected by adjustment to your 2020/21 PAYE code (for u Read More...

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Based in the Tees Valley, supporting clients in the northern region and beyond, our team delivers everything you would expect from first-class accountants. Our services aim to help our business clients to achieve greater profitability, and our individual clients to enjoy greater wealth.

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