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.
Recovery Loan Scheme Extended
An important support scheme offering Government-backed loans to small businesses will be extended for a further two years, Business Secretary Kwasi Kwarteng announced last week.
Important Announcement
We are deeply saddened to have to announce the passing of a much loved and respected member of our team.
Childcare Accounts Can Subsidise Summer Camp Costs
If you have children under 12 who attend a nursery, after school club, play scheme, childminder or you are considering sending them to a summer camp, you should think about setting up a tax-free childcare account
Penalties For Overclaimed Seiss Grants
HMRC are reminding sole traders and partners who have received Self-Employed Income Support Scheme (SEISS) grants that there are potentially penalties of up to 100% of amounts overclaimed in certain circumstances.
R&D Tax Credit Repayments Delayed
The Research & Development (R&D) tax credit scheme for small and medium sized enterprise companies is particularly generous as there is currently 230% relief for qualifying expenditure and, where the company is loss making, this results in a 14.5% repayable credit.
New Location in Bispham
It is with great pleasure that we can formerly announce Stanley Wilkinson & Co Chartered Accountants will be joining up with Rawcliffe and Co Limited. Stanley Wilkinson & Co is a long standing ICAEW member and well-respected part of the Fylde Coast business community.
MTD for VAT - New Guidance on Penalties for Non-Compliance
HMRC have issued new guidance on the penalties that they impose for non- compliance with the Making Tax Digital (MTD) for VAT rues. In particular, there is a penalty of up to £400 for every VAT return a business files without using ‘functional compatible software’.
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.