A Monthly Publication

 Supplied by Kathryn Gigg, Chartered Accountants, Hunstanton

 1st January 2010         VAT – the standard rate back up from                                              15% to 17.5%

                                          VAT – various changes to Intrastat                                                    reporting requirements, the place of supply                                           rules and rules for cross-border supplies

4th January 2010 Extended deadline for notifying the intention to make a disclosure under the New Disclosure Opportunity (NDO)

31st January 2010 There is a long list of deadlines on this date – the following are some of the more important ones:

Private companies with 31 March 2009 year-ends should file their accounts at Companies House.

· Income tax self assessment:

· Filing deadline for 2009 Tax Returns for personal, partnership and trust returns filed online, or for paper returns which cannot be filed online

· Balancing payment for 2008/09 and first payment on account for 2009/10 to be paid by this date

· Deadline for submitting an amendment to a 2008 Tax Return

· Deadline to file an outstanding 2008 Return to avoid a tax-geared penalty

· Deadline to file an outstanding 2004 Return to displace a determination

· Last date for error or mistake claims for 2003/04 under S33, TMA 1970.

IR35 deadline to make corrections to the P35 and pay outstanding PAYE and Class 1 NIC for 2008/09.

NIC – last day for claiming a repayment, on grounds of low earnings, of self employed Class 2 National Insurance contributions paid for 2008/09

Tax credits – last day to renew 2009/10 tax credits (if 31 July 2009 deadline was missed and claimant can show good cause) or to provide final income figures for 2008/09 award (if renewal was done by 31 July 2009 using an estimate).

Deadline for disclosures under the NDO in paper form (deadline for online disclosures is 12 March 2010)

Caution: This list has been produced as a guide to highlight general issues which may be of interest.  It is not suitable for full professional advice and specialist assistance should be sought in relation to any particular circumstance.  Accordingly, no responsibility for loss occasioned to any persons acting or refraining from acting as a result of any material in this list can be accepted by Kathryn Gigg Chartered Accountants, Business Advisers and Tax Consultants. 

© Kathryn Gigg 2010