tx_uk_flashcards
What is the time limit for agreeing the amount of trading losses to carry forward?
4 years from the end of the tax year in which the loss arose. For the 2023/24 tax year, the deadline is 5 April 2028.
What is the time limit for setting off trading losses against total income and chargeable gains for the current and prior years?
12 months from 31 January following the end of the tax year in which the loss arose. The deadline for the 2023/24 tax year is 31 January 2026.
When is the payment due for Class 1A NIC?
22 July following the end of the tax year (19 July if not paid electronically). For the 2023/24 tax year, the payment is due on 22 July 2024.
What is the time limit for surrendering trading losses to other group companies (Group relief)?
2 years after the claimant company’s accounting period.
By when must HMRC be notified for compulsory registration under the historic test for VAT?
30 days from the end of the month in which the threshold was exceeded.
