Rigid Click LVT Flooring

Dean Flood, Rowland Hall Chartered Certified Accountants

'HMR&C have however kindly repeated the concession offered in January 2021 by announcing that due to the enduring COVID 19 pandemic, any returns filed on or before the 28th February 2022 will not receive the automatic penalty charge of £100.'

BEWARE! TAX RETURNS ARE OVERDUE!

A happy new year to all.

Self-Assessment Tax Return Deadlines

HMR&C have reported that 2,828 individuals filed their self-assessment tax returns on Christmas day. 31,000 of HMR&C’s ‘customers’ filed their returns in the 3 days between Christmas Eve and Boxing day. Those figures were probably bolstered by a significant number of practitioners clearing returns from their desks on Christmas Eve. Nevertheless, more than 5 million tax returns were still outstanding at the start of the new year.

For those that didn’t spend the Christmas period preparing tax returns and who had not done so previously, the deadline for filing tax returns for the 2020/2021 tax year was the 31st January 2022.

HMR&C have however kindly repeated the concession offered in January 2021 by announcing that due to the enduring COVID 19 pandemic, any returns filed on or before the 28th February 2022 will not receive the automatic penalty charge of £100.

The 31st January 2022 was also the deadline for settlement of any outstanding personal tax relating to the tax year ended 5th April 2021. However, HMR&C have indicated that tax paid in full after that date, but before the 1st April 2022, will not receive any payment surcharges. This exemption will also apply to anybody that sets up a Time to Pay Arrangement with HMR&C before the 1st April.

Time to Pay arrangements afford the taxpayer the ability to repay tax debts over a 12 month period and are available to claim online to all individual taxpayers if their total tax debt is no more than £30,000. If the total tax debt is greater than £30,000, taxpayers can still access the scheme by calling 0300 200 3822.

Please note that despite the above concessions, HMR&C will still charge interest at 2.75% on any tax not paid by the 31st January 2022. The following should also be noted:

• All other normal late submission penalties will be imposed if returns aren’t filed by the 28th February and the normal 5% surcharge penalty will apply to payments not made or covered by a Time to Pay arrangement by the 1st April.

• The later filing of the tax return effectively extends the window of opportunity for HMR&C to open a tax enquiry on the self-assessment return.

Don’t Forget - In addition to the declaration of any normal trading profits or other taxable income, the 2020/2021 tax returns must include details of any Self Employed Income Support Scheme (SEISS) grants received in that period. They should also include any COVID support grants received from Local Authorities. There are specific boxes on the tax return for entry of these items. If in doubt, refer to your advisor but act as soon as possible.

RIGID CLICK LVT FLOORING – INSTALLATION DOS AND DON’TS

Steve Ball, Technical Services Manager for Malmo™ outlines his top tips for laying Rigid Click luxury vinyl tile (LVT) flooring.

It’s no idle claim that LVT is faster and easier to install than natural stone and wood, and this is one of the factors behind its rising popularity, alongside its credentials for being high performance, easy maintenance and offering broad design scope. The product is supplied in packs of planks or tiles that are lightweight and easy to handle and transport to jobs.

The Rigid Click installation system, where the planks and tiles are laid and locked into place, is particularly quick and easy to install, whereas stickdown requires a greater level of expertise. For example, our Malmo™ Rigid products feature Välinge 5G push down end joints meaning each plank only requires a firm finger touch to securely click the product into place with no need for hammers or tapping tools. The fact that the end joints need less positioning space also makes the flooring ideal when working in tricky or restricted spaces such as around sanitaryware and underneath doors in bathrooms. Some rigid LVTs, including Malmo™, feature a 1mm thick underlay offering further time and cost saving benefits by eliminating the need for separate installation.

Although the Rigid Click system is straightforward to fit, we always recommend that the full instructions are read prior to installation and followed carefully, as incorrect installation will invalidate the warranty. Here are some top tips to bear in mind to ensure a correctly installed floorcovering and a satisfied end user.

Brada Chestnut a multi-width plank from the Malmo™ Senses collection