Blog
All the latest changes to tax legislation- important tax dates and deadlines, Help-Sheets on managing your personal finances, business news & opinion, as well as updates on what’s happening at Rawcliffe’s.

Self-Assessment Payments Via the HMRC App Treble To £121 Million
Almost 100,000 tax-payers have paid £121 million using the

Autumn Statement 2023
In January 2023 the Prime Minister set out three economic priorities: to halve inflation, grow the economy and reduce debt. Consumer Prices Index (CPI) inflation has now more than halved from a peak of over 11% last autumn to 4.6% in October 2023.

Self-Assessment Scam Warning
With a large number of people expected to submit a Self-Assessment tax return for the 2022-23 tax year before the 31 January 2024 deadline, fraudsters will prey on customers by impersonating

Reclaiming Input VAT on The Sale of Shares
The sale of shares is an exempt supply for VAT purposes, which means that input VAT on professional fees in connection with the

Charging Electric Cars at Home
HMRC have recently clarified their view of the tax treatment of the reimbursement of electricity costs where employees charge their

HMRC Challenges LLP Scheme for Property Businesses
HMRC have recently published Spotlight 63 which alerts taxpayers to a marketed tax avoidance scheme that claims to

Not All LLP Members are Self-Employed
Since April 2014 members of a LLP are no longer automatically treated as

Salary or Dividend Best in 2023/24?
In recent years many accountants have advised their director/shareholder clients that the most tax efficient method of

The VAT Flat Rate Scheme - New Online Form
The amount of VAT a business pays or claims back from HM Revenue and Customs (HMRC) is usually the difference between the VAT charged by the business to

Are You Due A National Insurance Refund on Car Allowances?
Recent Tribunal decisions in favour of employing companies and against HMRC has caused many organisations in similar circumstance to

Rumour’s That Inheritance Tax May Be Abolished
In the weeks before any Budget or Autumn Statement there are always leaks and rumours. Normally, in the run up to a General Election there are also tax give

First Time Tax Return?
Taxpayers who are new to Self-Assessment for the 2022 to 2023 tax year may include

Autumn Statement Date Set For 22 November
The Treasury has announced that the Office of Budget Responsibility (OBR) will produce a report on the state of the UK Economy in

It’s Important to Have up to Date Profit Forecasts for Tax
From 1 April 2023 the rate of corporation tax that a company pays depends on the level of the company’s profits and

Back to School – Set up A Tax - Free Childcare Account?
The Government’s Tax-Free Childcare Accounts provide a 25% subsidy towards the cost of childcare. The account can be used to pay

Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory fuel rates from 1 September 2023

Income Tax on Inherited Pension Funds
Currently, where an individual pension holder dies before age 75, drawdown pensions paid to a successor can generally be received

Merger of R&D Tax Relief Schemes to go Ahead
The government have issued draft legislation for consultation on the proposal to merge the two forms of