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.

Beware The 60% Income Tax Trap
It has recently been reported over half a million taxpayers paid a marginal income tax rate of 60% in 2022/23, up by

VAT on the Costs of Selling a Subsidiary
When a holding company sells shares in a subsidiary, the VAT incurred on the professional fees involved would normally be

VAT on Private School Fees – Any Planning?
Many parents have been asking if there is any planning to avoid the 20% increase in private school fees. However, the actual

Reminder: P11D Form Submission Deadline Approaching
As mentioned in the diary of main tax events, form P11D for reporting benefits provided to employees and directors needs to be submitted online by

General Election 2024 – What Are Main Parties Saying About Tax?
Both the Conservative and Labour parties have pledged not to increase income tax, national insurance or VAT, although

Report on Companies House Progress Released
The Economic Crime and Corporate Transparency Act 2023 brought in reforms to Companies House procedures and powers with the first phase applying

Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory furl rates from 1 June 2024. These are the suggested reimbursement rates for employees' private mileage

Government Promise to Cut National Insurance Confirmed
While commenting on the GDP growth and what it indicates about the economy, the Prime Minister again drew attention to

HMRC Official Rate of Interest Remains at 2.25%
HMRC have announced that the official rate of interest will remain at 2.25% for 2024/25, despite the Bank of England Base Rate currently

Should Employees Reimburse Their Employer For Private Fuel?
Where a company car is provided for use by an employee or director there is a benefit in kind taxable on the

2023/24 Employment-Related Securities Returns Due By 6 July
The deadline for reporting shares and securities and share options issued to employees for 2023/24 is

Report Employee Benefits on Form P11d By 6 July
P11d forms for reporting expenses and benefits in kind provided to employees and directors in 2023/24 need to be submitted by

Official Rate of Interest for 2024/25 Remains At 2.25%
HMRC have confirmed that the official rate of interest for employee and directors’

HMRC Publish Updated Guidance on Work Travel
Whether or not an employee’s home is a workplace does not affect the availability of tax relief for

Are You Protected Against a HMRC Investigation?
HMRC hold an unprecedented level of information on UK businesses and taxpayers and have invested heavily in

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

Changes to Furnished Holiday Lettings from 6 April 2025
As announced in the Spring Budget, the beneficial tax treatment of furnished holiday lettings (FHLs) will be abolished from

Changes to The Basis of Assessment
The method of taxing the profits of unincorporated businesses changed significantly in 2023/24 and will also change from