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.
Fifth Self-Employed Income Support Grant To Be Paid In July
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July.
Tax Free Childcare Account Subsidises Summer Camp Costs
If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account.
Protecting Your Business Against Fraud
Invoice fraud is on the rise and while not a particularly new scam, it can be catastrophic for businesses who fall victim to it.
Furlough Grant Reduces To 70% For July
Remember that you are required to tell HMRC about overclaimed CJRS grants as part of your next claim. | Blackpool and Poulton based Chartered Accountants | Xero Platinum Partners | Cloud Accounting Experts
What is Crowdfunding?
Crowdfunding is becoming more popular with startup and early-stage businesses which can often struggle to secure funding from traditional lenders such as banks or financial institutions.
Output VAT On The Supply Of Private Road Fuel
HMRC have amended the VAT road fuel scale charges with effect from 1 May 2021. Businesses must use the new scales from the start of the next prescribed accounting period beginning on or after 1 May 2021.
Covid-19 Government Support News June 2021
A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021. The grant is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June 2021.
How To Pivot Your Business Strategy
Many firms have had to pivot their business strategy due to the current market conditions. In order to pivot your strategy, you will need to start by doing your research, reassessing your current business model and building a new approach from there.
Reimburse Private Fuel By 6 July To Avoid Fuel Benefit
Another consequence of the lockdown periods is that employees may have driven fewer private miles in their company cars, particularly where they have not been driving to the office.
Managing Mental Health in the Workplace
What can businesses do to support their people and help them to manage their mental health?
Check That Your Shares Qualify For CGT Business Asset Disposal Relief
A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return.
Not All Benefits Need To Be Reported On Form P11d
Note also that trivial benefits of no more than £50 provided to employees need not be reported. This typically covers gifts to employees at Christmas and on their birthdays.
Beware Mini-Umbrella Company Fraud
HMRC are urging businesses to look out for the use of mini-umbrella companies (MUCs) to pay contractors supplying their labour via agencies and other intermediaries.
Car Benefit Reduced Where Unavailable
P11d forms reporting benefits in kind provided to employees and directors need to be submitted to HMRC by 6 July.
Advisory Fuel Rate for Company Cars
These are the suggested reimbursement rates for employees' private mileage using their company car from 1 June 2021.
The Housing Market
Some experts predicted house price falls as a result of Brexit and from the economic fallout of lockdown. In fact, the market boomed up and down the country for much of last year.
The Office for National Statistics (ONS) - Older Workers During the Pandemic Report
The ONS have published their report on the demographic and economic characteristics of older workers aged 50 years. The main points are that while the impact of the pandemic has been greatest for younger workers, older workers aged 50 years and over have been affected to a greater extent than those in the middle age groups.