In these newsletters we tend to focus on tax matters that apply generally throughout the UK. However, under powers devolved to the Scottish Government there is now a different system of tax for the transfer of property in Scotland instead of SDLT.
Please contact us if you are considering buying a property in Scotland. We will also keep you up to date with other Scottish tax developments from time to time.
Tax Diary June / July 2016
|1 June||Corporation tax for year to 31/8/15|
|19 June||PAYE & NIC deductions, and CIS return and tax, for month to 5/6/16
(due 22 June if you pay electronically)
|1 July||Corporation tax for year to 30/9/15|
|6 July||Forms P11D and P11D(b) for 2015/16 tax year, and where appropriate form P9D|
|19 July||PAYE & NIC deductions, and CIS return and tax, for month to 5/7/16 (due 22 June if you pay electronically); payment of Class 1A NICs for 2015/16 (22 July if you pay electronically)|
Forms P11D due by 6th July!
As mentioned above in the tax diary, the deadline for filing the 2015/16 returns of benefits and expenses paid to employees is 6 July 2016.
Note that there can be significant penalties for incorrect returns so they need to be completed with great care.
Remember that reimbursed expenses do not need to reported where there is a P11d dispensation from HMRC in place.