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July 2018

Tax diary August

1 August 2018 - Due date for Corporation Tax due for the year ended 31 October 2017.

Points based penalties

In the recently published draft clauses that will form the basis of the Budget later this year, HMRC has outlined a significant change to the way they will be levying penalties for late filing breaches under the Making Tax Digital regulations.  

When is capital gains tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19.

It's all in the clouds

For those of you that have already considered the assets you hold and what should happen to them in the event of your death (or losing mental capacity), the obvious ones such as property, physical assets (cars etc.), personal items are easy.