EasyBooks 2nd Deadline
Our deadline is about to end
A New Way to Pay Us
Changes to how we receive your payment
Capital Gains Tax
Property sold on or after April 2020
Deadline 20/21 Ends Soon
Is your 20/21 Year End complete?
If the answer is no you still have a short time to get that paperwork handed in to us at the office.
It is crucial that we receive your paperwork and necessary documents before the deadline ends on:
Friday, 5th November at 5 pm
Please remember that an additional 20% charge will be added to your final invoice once this date has passed, and we can no longer guarantee that your tax return for 20/21 will be completed on time.
EasyBooks and Go Cardless
a New Way to Pay
We are making this option available to all our existing and future clients. In order to sign up, we will send you a link to Go Cardless where you can set up the Direct Debit and give the necessary details, we don’t see or handle any bank details, which means more security for you the client.
Once that is complete we will receive a confirmation email and an update to our system which means all is ready and set to go.
This new payment method is great for those of you who are on a recurring monthly invoice. It means your bill will be paid on time and we don’t have to keep sending you reminders.
We can also use this payment method if you are one of our annual invoiced clients. This will save you time not having to process your payment manually each year.
If we receive payment from you by standing order you can choose to keep that option if that process is working well for you.
For more information get in touch with your accounts manager of drop us an email and we can get you set up.
Capital Gains Tax
What is Capital Gains Tax?
Remember to note it’s the gain you make that is taxed and not the amount of sale money you receive. 18% for basic rate taxpayer and 28% for a higher rate taxpayer.
With that in mind, did you know…
If you sold
- a buy-to-let
- a second home
in the UK on or after 6 April 2020 you must report and pay any tax due on UK residential property using a Capital Gains Tax on UK property account within:-
- 30 days of selling if completion date was between 6th April 2020 and 26th October 2021.
- 60 days of selling if completion date was on or after 27th October 2021.
You may also need to pay CGT if your home is partly used as a business premises, or you lease out part of your property. CGT does not apply if you have someone lodging at your home or have an at home office.
You generally won’t need to pay CGT when selling your main home. See Private Residence Relief for more information.
- Posted by EasyBooks
- On 1st November 2021
- 0 Comments