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01/12/2022

December Tax Tips & News

Welcome to the Andrews & Brown Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

VAT repayment evidence

HMRC are always a little suspicious of businesses that claim a VAT repayment in their first VAT return, or a large refund in a later return. In such cases it will write to you asking for supporting evidence, such as copies of invoices, to be provided with Read More...

Letters to landlords

As a landlord letting a residential property you are required by the Housing Act 2004 to protect deposits provided by tenants on assured shorthold tenancies, by using a deposit scheme.

The not-for-profit companies that run these schemes will provi Read More...

Corporate Landlords

When a residential property is held through a company (or another non-natural person eg a trust) this potentially creates a liability to the Annual Tax on Enveloped Dwellings (ATED). This annual charge applies if the property is worth over £500,000. Read More...

Letters about corporate losses

When a company makes a loss after 1 April 2017, those losses can be set off in a far more flexible fashion than earlier losses, for example, trading losses may be used against property income. This means that the losses brought forward from earlier period Read More...

December Questions and Answers

Q. The sales representative for my company leaves home early in the morning for a two-day business trip that includes an overnight stay. What can the company pay him as a daily allowance if he does not produce any receipts? Read More...

December Key Tax Dates

7 -If you don't have a direct debit set up to pay your VAT liabilities, the payment for the quarter or month ending 31 October 2022 must reach HMRC by this date. VAT must be paid electronically. 12 - Where you have a direct debit set up to pay your VAT Read More...

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Andrews & Brown Accountants are based in Slough, offering local business owners and individuals a wide range of services.

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Andrews & Brown is a trading name of Andrews & Brown Chartered Accountants