The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Many tax elections or claims for allowances can be submitted after the deadline for submitting the self assessment tax return has passed. See the Self assessment filing deadline guidance note.
The standard period for submitting claims or elections relating to income tax or capital gains tax is four years from the end of the tax year to which the claim or election relates.
A number of elections have a specific deadline of the first anniversary of 31 January following the tax year in which the relevant event took place (see below).
Several capital gains re-investment or roll-over reliefs require an acquisition to be made within a set period of a disposal, so you need to monitor both the deadline for making the election and the period for making the reinvestment. For more details, see the Roll-over relief for traders and Enterprise investment scheme deferral relief guidance notes.
The claims summarised in Table 1 ― claims which should be made by 31 January 2021 must all be submitted by the first anniversary of 31 January following the tax year in which
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Normal due dateIndividuals are required to pay any outstanding income tax and Class 4 National Insurance, Class 2 National Insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2021 for the 2019/20 tax year). From 6 April 2020, UK
Summary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and unused cars with CO2 emissions over 50g/km but not more than 110g/km (to be reduced to 50g/km and below from April 2021)18%CAA
Time for paymentTwo statutory rules apply on death:•tax is ‘due’ six months after the end of the month of death and carries interest from the ‘due’ date until paidThere is a possibility of payment by instalments, but this applies to certain types of property only ― see the ‘Availability of
Class 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met before Class 1A NIC is
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