1 August 2024 - Due date for corporation tax due for the year ended 31 October 2023. 19 August 2024 - PAYE and NIC deductions due for month ended 5 August 2024. (If you pay your tax electronically the due date is 22 August 2024) 19 August 2024 - Filing deadline for the CIS300 monthly…
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CGT Incorporation Relief
Where a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market value of the business assets including goodwill. This could give rise to a chargeable gain based on the difference between the…
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Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. The deadline for filing the first set of accounts with Companies House…
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Child benefit for 16 to 19 year olds
The weekly child benefit rates for the only or eldest child in a family is currently £25.60 and the rate for all other children is £16.95. Taxpayers entitled to child benefit should be aware that HMRC usually stops paying child benefit on 31 August following a child’s 16th Birthday. Under qualifying circumstances, the child benefit…
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