October 31 tax return deadline approaching fast
It’s common knowledge that the tax return filing deadline is 31 January after the end of the tax year. However, you may be subject to an earlier deadline that is fast approaching instead. When does this apply?
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Double up on the employment allowance
You’re the sole shareholder of a limited company which employs several members of staff. You’re working on plans to start another business with an ex-colleague. Can both businesses benefit from the full employment allowance (EA)?
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VAT cut for children's holiday activities over summer
The government has announced a temporary reduction in the rate of VAT applying to certain children's holiday activity programmes during the summer holidays. The measure is intended to help families with childcare costs during the school break. What has changed?
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Deadline to issue P60s
If you're within self-assessment, you're probably aware that 31 January each year is the filing date. However, it’s often overlooked that there's an alternative deadline of 31 October. This applies if you intend to file a paper return. If that’s the case you only have until Monday to do it. At this late stage there's a good chance that the return won’t be received until after the deadline. You might be able to appeal against the subsequent automatic penalty if you can show you had a reasonable excuse, e.g. if the return was late due to the ongoing postal strikes. However, if you haven’t sent it off yet, our advice is not to. Instead, use the additional three months for online filing to get set up for HMRC online services and file the return there.
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