Value Added Tax returns for the quarter ended 30 November 2016 are due to be submitted by 7 January 2017, and any payment which is due should be made electronically by the same date.
Companies with a 31 March 2016 year end
Employer Payment Summary by 19 December 2016
Sometimes when you are an employer, you might have happened to have made no wage or salary payments at all for a PAYE month such as the month from 6 November to 5 December 2016, in which case you must submit electronically an Employer Payment Summary as a NIL return by 19 December. This is too easy to overlook.
If you engage some local accountants or a payroll bureau to do your wages, then this will be taken care of. In our case we keep a diary and do a batch of payrolls at about the same time each month. Our payroll files are bright yellow like the P30BC booklet so we do not overlook them.
CIS Returns to 5 December 2016
Construction Industry Scheme returns for the period from 6 November to 5 December 2016 should be submitted online by 19 December. This includes NIL returns.
It is too easy to forget the need to submit a NIL return when no payments to subcontractors have been made. If you engage a firm of accountants in Carlisle to do your CIS returns, then this will be taken care of. In our case we keep a diary and do a batch of work at about the same time each month.
A Company which has missed the 30 November 2016 Deadline
If your company had a deadline of 30 November 2016 for the submission of its accounts to Companies House, and this deadline has been missed, then you still have something to play for, and you should contact some Carlisle accountants such as David Porthouse and Co at once. You will incur a penalty of £150, but this penalty rises to £375 after 31 December if you still haven’t submitted your accounts. These penalties are £300 and £750 if you miss the deadline two years’ running. We can readily prepare and submit your accounts within the month if you contact us now.
The Cheque Run about 25 November 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in October would be settled by 30 November 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of November listing all outstanding invoices. Typically the cheque run would be about the 24th to the 26th of the month. If you give credit and have debts to collect, then you might like to have a discussion with local accountants such as us.
Value Added Tax deadline on 7 December 2016
Value Added Tax returns for the quarter ended 31 October 2016 are due to be submitted by 7 December 2016, and any payment which is due should be made electronically by the same date.
Time to see an Accountant
If you know that you need to fill in a tax return for the year ended 5 April 2016, then you should have done something by the end of October 2016. This is either to submit a paper tax return, or to see an accountant. Carlisle accountants David Porthouse and Co can help here.
You need to submit a tax return if you were sent one by the Revenue, or if you had any income they don’t know about, or if you were self-employed at any time, or if you had any capital gains.
Late Night Shopping 2016
Late Night Shopping in Carlisle will start on Thursday 17 November 2016 and continue each Thursday until 22 December. Christmas Lights will be switched on in Carlisle City Centre in an event between 1.00 and 5.30 pm on Sunday 20 November 2016.
Companies with a 29 February 2016 year end
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