March Tax Newsletter
|Welcome to the Hartley Fowler LLP Tax Tips and News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.|
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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.
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|Latest news round up|
There have been relatively few announcements related to Covid-19 support this month. The only real announcement of note was an amendment to the terms of the Pay As You Grow scheme for repaying Bounce Back loans. Under the revised rules, a borrower will be Read More…
|Import One-Stop Shop|
One of the consequences of Brexit is that exports of goods from GB to customers based in the EU are now zero-rated as far as UK VAT is concerned. However, if the consignment is valued at more than €22 there will be an import VAT liability at the other end Read More…
|Reporting Covid-19 support payments|
A business receiving support payments for Covid-19 needs to ensure the receipt is correctly recorded as taxable income for corporation tax purposes. For unincorporated businesses using the cash basis, this is straightforward enough. However, where the acc Read More…
|Venture Capital Trusts – are the dividends exempt?|
When preparing a tax returns, it is easy to look at a dividend statement from a VCT and think “It’s exempt” and simply file it away. Of course, in most cases this is probably sufficient. However, sometimes a little more care is needed. Dividend exemptio Read More…
|March questions and answers|
I am looking at buying a rundown pub/restaurant ready for this summer, assuming it will be allowed to open. I need to spend approximately £100,000 on building works. Can I register for VAT straightaway or do I need to wait until I open? Yes, you can reg Read More…
|March Key tax dates|
1 – Due date for payment of Corporation Tax for accounting periods ending 30 May 2020.
1 – New rules on domestic reverse charge for the construction industry take effect.
7 – Electronic VAT return and payment due for quarter ended 31 January 2020.
15 – Read More…
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