November 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. 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! |
| Latest news round-up The 2021 Autumn Budget was relatively quiet in terms of tax-related announcements, and the Finance Bill 2021/22 published on 4 November was similarly thin on new changes, consisting to some extent of matters that had already been announced, e.g. the aboli Read More… |
| Partial exemption and B2B services from overseas When a supply of services is from one business to another, i.e. a B2B supply, the general rule is that supply is treated as taking place wherever the customer is located, rather than the supplier. As an example, if a website design business is located in Read More… |
| Discovery assessments: time limits, the staleness concept, and Finance Bill changes The discovery assessment provisions in s. 29 of TMA 1970 permits HMRC to make an assessment for underpaid tax in certain situations. The time limit for raising the assessment depends on the behaviour that led to the underpayment. The standard time limit i Read More… |
| Avoiding wasted capital losses There were rumours that CGT rates were going to be increased at the Budget. These eventually proved to be incorrect, but there are still commentators that feel it is only a matter of time before changes are made with the huge COVID19-related borrowing to Read More… |
| November Questions and Answers Q. My company has issued a new class of shares to my adult children. However, these have been issued unpaid – with the amount available to be called at any time, though more likely to be paid in increments over the next few years. Both children work for t Read More… |
| November Key tax dates 1 – Due date for payment of Corporation Tax for accounting periods ending 31 January 2021 7 – Electronic VAT return and payment due for quarter ended 30 September 2021 19/22 – PAYE/NIC, student loan and CIS deductions due for month to 5/11/2021 Read More… |
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