Welcome to Tax Dispatch: the latest roundup from BKL’s tax experts.
In each issue we cover a different specialist area of tax, while highlighting some things you may have missed.
Tax Dispatch is also available via email. If you’d like it sent to you, you can subscribe here.
Discovering tax at BKL
In June we introduced Discover: a new magazine about BKL’s people, expertise and culture. It featured an overview of tax at BKL and our range of specialisms. If you missed it, you can browse Discover here.
Tax team on video
Earlier this year, Helena Kanczula joined BKL as our newest Business Tax Director. Recently she sat down with Anthony Newgrosh, our Head of Tax, to chat about her role and a complex project she’s been involved in at BKL.
Our latest tax webinar
Also available to watch on our website is the recording of our July webinar on Landlords and Making Tax Digital (MTD):
Anthony Newgrosh and Chris Smith, our Director of Personal Tax, were joined by James Kilpatrick of Hammock. Hammock’s specialist software can help landlords to prepare for MTD and is available through BKL. If you’d like to know more, please get in touch with us.
Tax Dispatch focus: Register of Overseas Entities
So far in Tax Dispatch we have explored share buybacks and company exits and capital treatment: different ways for shareholders to exit from a UK company.
This time we look at the new Register of Overseas Entities at Companies House. Launched this month, it seeks to provide greater transparency of the ultimate ownership of UK land.
Tax articles
Recent topics have included:
- Multiple dwellings relief and VAT in relation to stamp duty land tax
- LLP ‘salaried member’ rules
- Buying a property for student offspring
- BSkyB personalities and the ‘IR35’ rules
Among the BrassTax mailings republished by tax magazines was our note on planned CGT changes for separating spouses, which appeared in Tax Journal. It was a key announcement on ‘legislation day’ (20 July), when the Government publishes items of draft legislation for inclusion in the next Finance Bill.
Browse our insights on our website
Key dates
1 August: Corporation tax liabilities for accounting periods ended 31 October 2021 become due for payment
1 August: Register of Overseas Entities launched – see above
14 August: Quarterly instalment payments (large company)
1st payment for 31 January 2023 accounting period due
(also, 2nd payment for 31 October 2022 period, 3rd payment for 31 July 2022 period and 4th payment for 30 April 2022 period)
14 August: Quarterly instalment payments (very large company)
1st payment for 31 May 2023 accounting period due
(also, 2nd payment for 28 February 2023 period, 3rd payment for 30 November 2022 period and 4th payment for 31 August 2022 period)
31 August: Filing deadline for August 2021 corporation tax returns (and for amendments to 31 August 2020 returns)
1 September: Corporation tax liabilities for accounting periods ended 30 November 2021 become due for payment
1 September: Trust Registration Service deadlines for trusts created prior to 6 April 2021 and some trusts created since 6 April 2021 – more details on our website
14 September and 14 October: Quarterly instalment payments (large company) potentially
1st payments for 28 February 2023 and 31 March 2023 accounting periods
2nd payments for 30 November 2022 and 31 December 2022 periods
3rd payments for 31 August 2022 and 30 September 2022 period;
4th payments for 31 May 2022 and 30 June 2022 periods
14 September and 14 October: Quarterly instalment payments (very large company) potentially
1st payments for 30 June 2023 and 31 July 2023 accounting periods
2nd payments for 31 March 2023 and 30 April 2023 periods
3rd payments for 31 December 2022 and 31 January 2023 periods
4th payments for 30 September 2022 and 31 October 2022 periods
1 October and 1 November: Corporation tax liabilities for accounting periods ended 31 December 2021 and 31 January 2022 become due for payment
19 October: Filing deadline for PSAs and payment deadline for Class 1B NIC (if not paying electronically)
22 October: Payment deadline for Class 1B NIC (if paying electronically)
Date unknown: Autumn Budget 2022. We wait to see how soon in the autumn the Budget may be delivered, who as Chancellor will be delivering it and what tax developments it may herald. Watch this space.
Are there any particular topics you’d like us to cover in a future edition of Tax Dispatch? Let us know by getting in touch with your usual BKL contact or by using our enquiry form.