Tax Diary January/February 2020

1 January 2020 - Due date for Corporation Tax due for the year ended 31 March 2019. 19 January 2020 ...
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Paying wages to connected persons

The definition of a connected person for tax purposes includes certain relatives, trustees, partners and companies. A person is connected ...
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Basis periods and change of accounting date

HMRC’s guidance lists the following useful examples about a change of accounting date: If your accounting date in 2016 to ...
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What is reasonable care

The inaccuracy penalty system is intended to make penalties simpler to understand and more consistent across many taxes. HMRC has ...
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Exemptions from CGT

Capital Gains Tax (CGT) is a tax on the profit made on the disposal of an asset that has increased ...
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Top up your pension pots

You can claim tax relief for your private pension contributions. The current annual allowance for tax relief on pensions is ...
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Take advantage of the Annual Investment Allowance

The Annual Investment Allowance (AIA) allows business owners to claim the total amount of qualifying expenditure on plant and machinery, ...
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Penalties for late filing of Self-Assessment tax returns

The 31 January is not just the final date for submission of your Self-Assessment tax return but also an important ...
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Implications of the General Election result for employment law

With the Conservative Party having won a majority in the General Election 2019, this has the following implications for employment ...
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