Diary of main tax events: October/November 2017

  Date What’s Due 1/10 Corporation tax for year to 31/12/16, unless quarterly installments apply 5/10 Deadline for notifying HMRC of chargeability for 2016/17 if not within Self-Assessment and  receive income or gains on which tax is due 19/10 PAYE & NIC...

Reclaiming foreign Vat on expenses

If your business has suffered VAT on expenses incurred in another EU country, for example overseas hotel and restaurant bills, then it is possible to reclaim the foreign VAT. The foreign VAT must not however be reclaimed on the UK VAT return but by using HMRC ‘s...

Are spouses wages fully deductible?

HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC that the amount allowed as a deduction should be limited based on the...