The Annual Exempt Amount for Capital Gains Tax for the year ended 5 April 2016 is £11,100. If you hold a portfolio of shares or other assets, then you may wish to consider taking advantage of the Annual Exempt Amount by selling some of your assets to crystallise a gain before the 5 April deadline. Discuss this with your accountant or tax adviser.

There are rules to deter you from selling an asset and buying it back straight away, which is called “bed and breakfasting”. Your adviser will tell you about this.

 
Value Added Tax returns for the quarter ended 31 January 2016 are due to be submitted by 7 March 2016, and any payment which is due should be made electronically by the same date.

 
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 January to 5 February 2016, in which case you must submit electronically an Employer Payment Summary as a NIL return by 19 February. This is too easy to overlook.

 
Construction Industry Scheme returns for the period from 6 January to 5 February 2016 should be submitted online by 19 February 2016. This includes NIL returns.

 
If you missed the Self Assessment deadline on 31 January, then you may need to pay a £100 fine. The next deadline in which to take an interest is 1 March 2016, when any tax that is due incurs a 5% surcharge on top of interest due since February 1st 2016. If you contact us NOW then we may be able to do something about it!