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.
Poulton Gala 2022
We had the pleasure of sponsoring Poulton Gala this year and some of our staff went along to support.
ATED Returns And Revaluations Due
There are numerous exemptions and reliefs from ATED but companies still need to submit an ATED Relief Declaration Return.
Trading Losses - Carry Back Or Carry Forward?
In the March 2021 Budget, it was announced that the normal one year carry back for trading losses would be extended to three years.
Super-Deduction For Equipment Runs For One More Year
The 130% super-deduction for companies that invest in new plant and machinery applies where the expenditure is incurred between 1 April 2021 and 31 March 2023.
Business Tax Relief for Capital Investment
In preparation for the 130% ‘super-deduction’ for companies coming to an end on 31 March 2023, other alternatives are being considered in an attempt to continue encouraging investment from April 2023.
National Insurance Contributions (NICs)
Some new measures have however been announced in an attempt to combat the effect of the increase, at least partially.
The Spring Statement 2022
In our newsletter, we provide an outline of the main areas of taxation covered in the Spring Statement. We have also included our observations on the more important changes, together with any planning points that may arise. In addition, we have included a detailed calendar of the most important dates for 2022/23 that will help you with tax planning ahead of time.
VAT Rates For Hospitality Sector Due To Increase From 1 April
Early in the COVID-19 pandemic, the Chancellor reduced the rates of VAT for the leisure and hospitality sector to just 5%.
Don’t Lose Your 2021/22 Personal Allowance
For every £2 that your adjusted net income exceeds £100,000 the £12,570 personal allowance is reduced by £1
Buy New Equipment Before 6 April?
Your business year end, not 5 April, is relevant for capital allowances purposes.
Will There Be A Mini Budget On 23 March?
The main Budget is scheduled for Autumn each year, but it is anticipated that the Chancellor will take the opportunity to make a number of tax announcements.
Planning To Sell Your Business In 2022?
Now that the economy is starting to recover, this could be a good time to think about selling your business. Remember that under the current capital gains rules, the first £1 million of an individual’s gains potentially qualify for a 10% rate of tax, provided business asset disposal relief applies.