Beaumont & Co logo

PHONE : 01704 891167

FAX : 01704 891169

A hand holding a blue pen, next to a white tablet

Beaumont & Co accounting and tax FAQs.

1.Do I need to register for VAT?

If you're a business and the goods or services you provide count as what's known as 'taxable supplies' you'll have to register for VAT if either:

  • Your turnover for the previous 12 months has gone over a specific limit - called the 'VAT threshold' (currently £83,000)

  • You think your turnover will soon go over this limit

  • You can choose to register for VAT if you want, even if you don't have to.

 

2.How can I pay HMRC?

After April 2011 HM Revenue and Customs will only accept payments electronically. These are the links showing bank details for HMRC’s different departments . Please ensure you quote any relevant reference numbers.

This link will give all available methods for paying HM Revenue and Customs.   https://www.gov.uk/topic/dealing-with-hmrc/paying-hmrc

  •  

 

3.What is the Construction Industry Scheme and does it apply to my business?

The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.

 

The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn't construction but have a high annual spend on construction may also count as contractors and fall under the scheme.

 

A Director must register the company for CIS over the telephone on the CIS Helpline

0300 200 3210

 

4. I trade through a Limited Company, when are my accounts due at Companies House?

Unless you are filing your company’s first accounts the time normally allowed for delivering accounts to Companies House is:

  • 9 months from the accounting reference date for the private company; or

  • 6 months from the accounting reference date for a public company

  •  

Your Corporation Tax payment is normally due 9 months and one day after the end of your accounting period.

Providing advice for businesses throughout the North West

At Beaumont & Co we can provide you with more information on tax returns and payments. Based throughout the North West, call us on:

 

01704 891167

 

September 2018

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended July 2018.

19th  PAYE, Student loan and CIS deductions are due for month to 5th September 2018.

 

October 2018

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended August 2018.

19th      PAYE, Student loan and CIS deductions are due for the month to 5th October 2018

31st Deadline for submitting paper 2017/18 self assessment returns.

 

November 2018

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended September 2018.

19th       PAYE, Student loan and CIS deductions are due for the month to 5th November 2018

December 2018

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended October 2018.

19th      PAYE, Student loan and CIS deductions are due for the month to 5th December 2018.

Important dates

 

 

January 2019

VAT Return deadline for filing at HM Revenue &

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended November 2018.

19th      PAYE, Student loan and CIS deductions are due for the month to 5th January 2019

31st Deadline for submitting 2017/2018 self assessment tax return. Balance of 2017/2018 tax liability is payable and first payment on account for 2018/2019.

February 2019

1st Fine for late submission of 2017/2018 self assessment tax return payable.

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended December 2018.

19th PAYE, Student loan and CIS deductions are due for the month to 5th February 2019.

March 2019

7th VAT Return deadline for filing at HM Revenue & Customs for quarter ended January 2019.

19th  PAYE, Student loan and CIS deductions are due for the month to 5th March 2019

31st Last minute planning for tax year 2018/2019