Well Autumn is here.  And for some, the countdown to Christmas is starting.  For us accountants, that means the impending mayhem of January looms quite near.

Don’t leave it until the last minute!  Start pulling together paperwork now for your tax returns and let your accountant have it as soon as possible.

For those who do their own tax returns on the old fashioned paper forms, these must be submitted by 31st October 2017 at the latest.

For employers, payment of PAYE liabilities for quarter 2 – July Aug and Sept – must be paid to HMRC by 22nd October if paid electronically.  But 22nd October is a Sunday, so pay it on 20th Oct rather than 23rd Oct to avoid any late payment notice!

For those of you who don’t know – October is Breast Cancer awareness month.  You may think this is a very strange thing to post on an accountant’s blog.  However, there is method in my madness! The reason I bring it to your attention is because charitable donations to Breast Cancer charities, or indeed any registered charity, are tax deductible.  If you are a higher rate tax payer and donate to charity, the sum of your charitable donations has the effect of increasing your basic rate tax allowance.  So not only should you donate to charity if you can, but you should also declare the donations to get the tax relief on them, where possible.

Finally, HMRC have updated their advisory rates as from 1st September for company car users and here they are below.

Update. The advisory fuel rates for business mileage in company cars have been updated with effect from 1 September 2017. The rates for petrol, diesel and LPG cars have all been affected with a decrease in allowable rates. There are four changes in total – previous rates are in brackets:
Engine size Petrol LPG
1,400cc or less 11p 7p
1,401cc to 2,000cc 13p (14p) 8p (9p)
Over 2,000cc 21p 13p (14p)
Engine size Diesel
1,600cc or less 9p
1,601cc to 2,000cc 11p
Over 2,000cc 12p (13p)