High street retailers will be interested in the recent publication of an early-stage consultation that explores the argument for and against an Online Sales Tax. It is argued by the retail sector that business rates discriminate against the high street. The idea is to use any revenue from this tax to fund reductions in business…
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Tax Diary March/April 2022
1 March 2022 - Due date for Corporation Tax due for the year ended 31 May 2021. 2 March 2022 – Normally Self-Assessment tax for 2020-21 would need to be paid by 2 March or a 5% surcharge would be incurred. This year HMRC is giving taxpayers more time to pay and no surcharge will…
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Closing a limited company
You usually need the agreement of your company’s directors and shareholders to close a limited company. The way you close the company depends on whether or not it can pay its bills. If the company can pay its bills (it is ‘solvent’) You can either: apply to get the company struck off the Register of…
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Have you used your tax-free capital gains allowance?
You and each member of your family is entitled to make tax-free capital gains of up to £12,300 in the 2021-22 tax year. If you have made no disposals that would trigger a capital gain in 2021-22, consider the following: If you have assets, shares for example, that you are thinking of selling, you may…
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