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.
Buy-to-Let Landlords Welcome SDLT Cut
Thus, the rate of SDLT on a second home costing up to £500,000 is now 3%. Previously, the rate was 3% up to £125,000, then 5% up to £250,000 and then 8% up to £825,000.
More Details on Hospitality VAT Reduction
When the Chancellor announced a temporary cut in the rate of VAT for the hospitality sector in his Summer Statement on 8 July there were some areas that needed clarification.
New Plans for UK Internal Trade
From 1 January 2021, powers in at least 70 policy areas previously exercised at an EU level will flow directly to the devolved administrations in Edinburgh, Cardiff, and Belfast for the first time.
Voluntary Strike Off Process
In March 2020, CH introduced temporary easement measures to suspend voluntary strike off action in response to coronavirus (COVID-19); they have reviewed these measures each month.
Register for Eat Out To Help Out
Establishments serving food for on-premises consumption can now sign up to a new government initiative aimed at encouraging people to safely return to dining out.
CJRS: Claiming for Non Employees
From 1st July “Flexible Furlough” was introduced and the calculations and time recording of full-time, part-time and fully furloughed employees has become more complicated.
VAT – Reduced Rate of 5%
The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies.
Residential Rates 07/20 to 03/21
Residential properties purchased between 8 July 2020 to 31 March 2021: only start to pay SDLT on the amount that you pay for the property above £500,000.
The Green Homes Grant
Grant introduced September which will provide at least £2 for every £1 homeowners and landlords spend to make their homes more energy efficient, up to £5,000 per household.
Summer Economic Update 2020
Chancellor Rishi Sunak presented the Summer Economic Update against a backdrop of economic uncertainty caused by coronavirus (COVID-19) lockdown.
“Flexible Furlough” started 1st July
From 1 July the new CJRS “Flexible furlough” grant scheme started, which allows employers to gradually bring their furloughed employees back to work part-time.
Second SEISS Grants paid in August
The eligibility criteria remain broadly the same as the first grant claim. Self-employed profits in 2018/19 must not exceed £50,000 and must be more than 50% of your total income.
HMRC May Allow Tax Refunds for Anticipated Losses
HMRC announced that they may allow limited companies to make claims for loss relief and tax refunds even though the current accounting period has not yet ended
UK- Relaxed Rules To Help Businesses during COVID-19
The Department for Business, Energy & Industrial Strategy have published a list of the rules that have been temporarily relaxed…
A Moratorium: Apply for breathing space
How to apply for breathing space to consider a rescue plan for your company, under measures to support companies and other types of business in financial difficulty.
Latest Indicators For The UK Economy And Society
According to the latest Business Impact of Coronavirus (COVID-19) Survey (BICS), 30% of the workforce were on furlough, and 42% of businesses were topping up workers’ pay.
PERSONAL AND ECONOMIC WELL-BEING IN GREAT BRITAIN: JUNE 2020
The Government has published studies about the effect of Coronavirus on the UK economy and our emotional well-being.
INFORMATION FOR FARMERS, LANDOWNERS AND RURAL BUSINESSES
Fund to support dairy farmers opens for applications | Amendments to BPS applications using the Rural Payments service .