October 2021 Newsletter

01664 501010

foxwise.co.uk

22/10/2021
Latest news round-up
Rumours of an imminent rise in NI rates started to circulate at the beginning of September, and were confirmed on 7 September with the publication of the government policy paper Build Back Better: Our Plan for Health and Social Care. Read More...
 
Preserving FHL status for 2020/21
A qualifying furnished holiday let (FHL) enjoys a number of favourable tax breaks - including business asset disposal relief, and the ability to claim capital allowances and rollover relief - when compared with non-qualifying properties. Read More...
 
Freeports - the tax breaks
Eight new Freeports were announced earlier this year, with each offering operators within the sites a number of tax incentives. The sites are: Read More...
 
Buying a commercial building
When buying a commercial building, the price may include VAT if the vendor has opted to tax the property. If the buyer is VAT registered and will be using the building wholly for the purposes of the trade it will be able to reclaim this input tax. Read More...
 
October Questions and Answers
Q. I have been on the VAT flat rate scheme for several years. I have two business activities that fall into different categories with differing FRS percentages. I have apportioned VAT between the rates, but a chance conversation with an old colleague lead Read More...
 
October Key tax dates
1 - Due date for payment of Corporation Tax for accounting periods ending 31 December 2020 5 – Deadline to notify HMRC of tax liability where not already in self-assessment 7 - Electronic VAT return and payment due for quarter ended 31 August 2021 Read More...
 
About Us

Please note we would be grateful if collection and delivery of paperwork could be made between the hours of 9am and 1pm, please call before you drop off. Our normal office working hours are back to 9am to 5pm. We will continue to do our very best to support you and your needs remain our priority.

Foxwise Accountancy is based in Melton Mowbray, offering local business owners and individuals a wide range of services. All clients are offered fixed fees, work delivered on time and unlimited phone support. Visit our website foxwise.co.uk for more information.

 

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22a Burton Street, Melton Mowbray, Leicestershire, LE13 1AF,

Foxwise Accountancy is a trading name of Foxwise Accountancy Ltd