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01/12/2022
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...
 
About Us

FWD Accounts Suffolk, offering local business owners and individuals a wide range of services.

We help our clients by producing regular management accounts for their business and then talk through those numbers and what they mean.  Email Jason at jnf@fwdaccounts.co.uk if this is of interest, and he will provide you a quote for doing this and he can explain how it would work.  Waiting for this financial information until your year end is often too long, and it does not allow the business to make corrective action at an early stage, if it was necessary. It also allows us time to make tax planning decisions as the year develops, to minimize the final tax payable.

All clients are entitled to fixed fees, work delivered on time and phone support. Visit our website fwdaccounts.co.uk for more information.

 

 

 
 

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