Sinclair Day

August 30, 2017

VAT – beware the default surcharge

A default surcharge is a penalty levied on businesses that submit late VAT returns. VAT registered businesses are required by law to submit their returns and make sure that payment of the VAT due has cleared to HMRC’s bank account by the due date.
August 24, 2017

Tax Diary September/October 2017

1 September 2017 - Due date for Corporation Tax due for the year ended 30 November 2016. 19 September 2017 - PAYE and NIC deductions due for month ended 5 September 2017. (If you pay your tax electronically the due date is 22 September 2017) 19
August 23, 2017

Terminal losses for the self-employed

There are a number of different reliefs available to the self-employed or members of a trading partnership that suffer tax losses, and a number of ways these losses can be used. One commonly used relief, is terminal loss relief. This relief is
August 23, 2017

Costs that qualify for Research & Development Relief

Small and medium-sized companies can claim R&D tax credits of 230% of qualifying expenditure incurred on or after 1 April 2015. This article lists a summary of costs that can be considered for this relief, broadly, if they contribute directly to