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.
Many Couples May Need to Restart Child Benefit Claims
The changes to the High Income Child Benefit Charge (HICBC) announced in the Spring Budget have now been incorporated into the latest
Happy New Tax Year
This April we highlight some of the key tax changes that take effect from the start of the new tax year. Unfortunately, most of the income tax
Spring Budget 2024
Jeremy Hunt says the UK economy has dealt with the financial crisis, the pandemic and energy crisis caused by war in Europe. He acknowledges that interest rates “remain high as we bring down inflation”, but adds: “We can now help families not just with cost of living support but with permanent cuts in taxation.” He calls it a “budget for long term growth”
Understanding The Pros And Cons of The VAT Flat Rate Scheme for Businesses
Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of
Are You Eligible for A £252 Saving on Your Tax Bill?
With the tax year ending on 5 April, March is a good month to check whether sharing unused tax allowances with your
Making Tax Digital: New Policy Paper Published
A new policy paper has been released by HM Revenue and Customs (HMRC) on Making Tax Digital for
Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory fuel rates from 1 March 2024. These are the suggested reimbursement rates for
Don’t Be Late In Paying Your Personal Tax Bill
2022/23 income tax, CGT, class 2 and 4 NIC liabilities should have been paid by 31 January 2024 unless you have agreed
Get Ready for More R&D Changes
On top of the major changes to research and development (R&D) tax relief that took effect from 1 April 2023, there are yet more changes that
Data Protection - UK-US Data Bridge - A Factsheet for UK Organisations
Following a review of the current handling and protection of personal data, the UK and US have established a "data bridge". This allows personal data to freely
4,757 Festive Tax Return Filers
HMRC announced that 4,757 taxpayers filed their Self Assessment tax return on Christmas
Regular Gifts Out of Your Income Can Save Inheritance Tax
One tax planning opportunity that many thought the chancellor might restrict was the exemption from inheritance tax for regular gifts out of
Pension Contributions on Behalf of Others
Normally an individual’s payments into a pension scheme are limited to their relevant earnings in a given tax year. This
Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory fuel rates from 1 December 2023
2024 - A Year for Flexibility?
Looking back at 2023, we have been amazed at the resilient way our clients have handled the uncertain economy. You have
Update Payroll Software for the January Nic Cut
The chancellor’s announcement of a 2% cut in national insurance contributions (NICs) for employees applies
Backing British Business
The Annual Investment Allowance (AIA) is now permanently set at £1million. This means that businesses can claim tax relief at
Cutting Tax and Rewarding Hard Work
In addition to income tax, all employees earning more than £12,570 a year pay