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.
£1 Million Annual Investment Allowances Extended
The tax relief was originally scheduled to revert to just £200,000 from 1 January 2021, but that will now be delayed by twelve months.
New Year Resolutions To Save Tax
You might also want to consider increasing your pension savings before 5 April 2021 as the unused annual pension allowance is lost after three years
New Vat Rules For Construction Sector Start On 1 March 2021
New VAT rules are finally due to come into effect this March which will impact on accounting for VAT for transactions in the construction sector.
Advisory Fuel Rates for Company Cars
These are the suggested reimbursement rates for employees' private mileage using their company car from 1 December 2020.
The Third National Lockdown
We will continue to support you throughout this troubling period, and we will be processing your payroll, accounts, tax returns and grants as usual.
New Lockdown Grants Announced
The Chancellor announced one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through to the Spring.
Brexit Trade Agreement
The EU and UK have struck a trade deal, and this has been ratified by the UK Parliament so from 1 January we are trading with the EU quota and tariff “free”.
What is the Best Use of Your Time in January?
If you have a vision of what you want your business to look like when it is “complete” then you are in a position to drive your business towards the vision.
So What Are Our Business Predictions For 2021?
There will be "bumpy moments" for UK businesses and travellers as they get to grips with new EU rules, stated Michael Gove at the end of last year.
Are Digital Banking Platforms Suitable For Businesses?
Digital banking platforms such as Starling Bank or Monzo have risen in popularity, but are they suitable for business use?
20 Point Brexit Planning Checklist
Use this 20-point checklist to review your Brexit preparedness and the Government information to prepare actions for 1 January 2021.
Tax Free Gifts to Staff at Xmas & Virtual Parties
Remember that certain gifts to staff at Christmas are also tax free if structured correctly.
New Penalties For Overclaimed CJRS, SEISS And “Eat Out To Help Out” Grants
The penalty may be reduced where the taxpayer assists HMRC in correcting the error.
Claim Your Furlough Grant by 14th
Claims must be made by the 14th of the following month although they can be made up to 14 days in advance.
Brexit Time: 31 December 2020
Our aim is to provide you with information and resources to help you manage the change as smoothly as possible.
Furlough Agreement and Letters Guidance
If you are Furloughing employees from 1 November you must agree any changes in their terms of employment with them in advance.
Managing a Hybrid Team: Home VS Office
As businesses manage return to the office, some of your team will be able to come back while others may need to continue working remotely.
Airbnb Reporting Property Rental Details To Hmrc
You may have seen that Airbnb will share data with HMRC about the earnings of hosts (those who let out property) on its UK platform …