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.
UK Autumn and Winter Covid Plan
Vaccines will continue to be the first line of defence. All those who were vaccinated during Phase 1 of the vaccine programme (priority groups 1 to 9) will be offered booster jabs from this month – to boost immunity amongst the most vulnerable groups during winter.
VAT Rate Reduction For Hospitality, Holiday Accommodation and Attractions.
If you are a VAT registered business, check if you can temporarily reduce the rate of VAT on supplies relating to hospitality, accommodation, or admission to certain attractions.
Plastic Packaging Tax Starts 1 April 2022
If you are a business that manufactures or imports 10 or more tonnes of plastic packaging over a 12-month period you will need to register for the tax
Rawcliffe’s New Business Kit 2021/22
The Financial, Tax and Accounting Considerations of Starting a New Business
Notify Option To Tax Land And Buildings Within 30 Days
The 30 day deadline was temporarily extended to 90 days to help businesses and agents during the pandemic, but that temporary extension has now ended for decisions made from 1 August 2021 onwards.
Accounting For Import VAT On Your VAT Return
HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union.
Useful Health and Wellbeing Apps
It’s been a stressful year for all of us. Here are some of the best health and wellbeing apps which can help you to restore your focus, motivation and productivity.
Big Tax Bills For The Self-employed In 2022/23
The proposed new rules provide that from 2023/24 onwards profits or losses will be apportioned to tax years where the period of account does not coincide with the tax year.
5% Rate On Tourism And Hospitality Ends 30 September
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September.
September Is The Last Month For CJRS “Furlough” Grants
The grant claims for employees furloughed in the month of September are 60% of the employee’s usual pay up to a maximum cap of £1,875.
Strategic Challenges In The New Normal
Businesses that have survived the pandemic may have burned up their cash reserves or taken on additional debt to finance themselves throughout the last 18 month | Accountant in Blackpool and Poulton | Xero
Off-payroll Working- Will HMRC Accept CEST Result?
Since 6 April 2021 large and medium-sized organisations have had to determine whether or not a worker supplying their services via their own personal service company would be treated as an employee if directly engaged
Stop Networking And Focus On Connecting
Businesses that have survived the pandemic may have burned up their cash reserves or taken on additional debt to finance themselves throughout the last 18 months.
Company Loss Relief Can Be Claimed Early
…Losses carried back will result in a repayment of corporation tax at 19% whereas if carried forward against profits the losses may save tax at up to 25% after April 2023.
Making Tax Digital (MTD) For Income Tax
Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023.
Unlimited Holiday
Unlimited holiday allowance is becoming an increasingly popular benefit. Such policies are particularly popular with American tech businesses such as Netflix, LinkedIn, and the like.
UK Trade Tariff | Customs Declarations| Postponed VAT
Businesses can delay sending HMRC full information about goods by up to 175 days before the deadline of 31 December 2021. After that full customs declarations must be made at the point of import for all goods.
Pension Contribution Is Tax Efficient For Both Employee And Employer
Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached.