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.
Considering an Electric Company Car?
Legislation for this change is included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23.
Get Ready for Leaving the EU on 1st January 2021
The United Kingdom leaves the European Union at 11pm on 31 December 2020 when the transitional period ends.
Job Support Scheme Starts 1st November
The Chancellor has announced a new 6 month Job Support Scheme to help businesses and employees survive the winter months.
Claim the job retention bonus from February 2021
A £1,000 one-off taxable payment to you for each eligible employee you furloughed and kept continuously employed until 31 Jan 2021.
Flexibility on Paying Back Bounce Back Loans
Over a million businesses who took out Bounce Back Loans will get more time through a new Pay as You Grow flexible repayment system.
Deferral of VAT Payments Due to Coronavirus
Half a million businesses who deferred their VAT bills will be given more breathing space through the New Payment Scheme.
Statutory Sick Pay for Employees due to Coronavirus
From 26 August 2020 you can claim for employees who have been notified by the NHS to self-isolate before surgery.
Changes to CJRS | Paying CJRS Grants Back
Updated guidance on how to perform usual hours calculations where employees come off furlough partway through a claim period.
Businesses to Prepare for Test and Trace
This guidance applies to any establishment that provides an on-site service and to any events that take place on its premises.
Kickstart scheme launches in November!
The £2 billion Kickstart Scheme is designed to create thousands of new, fully subsidised jobs for young people across the country.
Live Streaming as a marketing tool
During lock-down, many businesses have turned to webinars as a way to market themselves. Live streaming is a development of this…
Running effective meetings - virtually
Despite lockdown restrictions, many businesses have found ways to move their operations online, with all staff working remotely.
Property Business Class 2 NICs
Class 2 National Insurance Contributions (NICs) are currently paid at the rate of £3.05 per week by self-employed earners.
MTD For VAT for all VAT Registered Businesses in 2022
Most businesses will have 2 years to prepare and test the service. From April 2022 these requirements will apply to all VAT-registered businesses.
Notify HMRC of Overclaimed CJRS Grants
HMRC has said that it will be lenient in relation to genuine mistakes; penalties will be charged only in cases of deliberate non-compliance.
CJRS: If you’ve claimed too much or not enough
From September 1, the government grant towards the employee wages will be reduced to 70%, then to 60% from October 1.
The New Business Kit
Rawcliffe's brand new free guide 'The New Business Kit 2020-2021' contains the financial, tax and accounting considerations of starting a new business.
Improving Your Sales Strategy
Take the time to ask those who went elsewhere for feedback. Ask them why they chose to go with another product…