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.
Helping Your Employees Through the Cost-Of-Living Crisis
Against a backdrop of soaring prices for food, energy and other essential goods and services, many employers in the UK are asking what they can do to support their people’s financial wellbeing.
Energy Management - BS ISO 50005
The ISO 50005 standard provides SMEs with a means to develop a practical approach to energy management to reduce energy consumption, energy bills and greenhouse gas emissions.
Useful Personal Finance Tips to Manage Inflation
Households need to brace for a prolonged period of high inflation and further interest rate rises. The Governor of the Bank of England, Andrew Bailey, has warned that he will take forceful action to tackle inflation, already running at 9.4% and forecast to hit double figures later this year.
Managing Your Cash in Tough Times
With ever-increasing supplier prices, a rise in interest rates and a looming recession, managing your business's cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success.
Al Fresco Dining To Continue For Businesses
Temporary changes brought in during COVID-19, which made it quicker, easier and cheaper for businesses to get a licence to serve food and drink on pavements and pedestrianised roads, have been extended.
Beware “Rogue” R&D Consultants
In recent years HMRC have identified and successfully challenged a number of spurious claims for Research and Development (R&D) tax credit relief made by purported ‘R&D Consultants’.
Making Tax Digital – Update
The obligation to keep records in a digital format and report information quarterly will apply to unincorporated businesses and property landlords with gross income from all business activities in excess of £10,000 a year.
More Details of MTD for Income Tax Reporting
HMRC are currently consulting on the precise details of what needs to be reported each quarter.
Prime Minister Candidates and Possible Tax Cuts
With the departure of Boris Johnson, the contenders as leader of the Conservative Party and Prime Minister (PM) have now been whittled down to the last two – Rishi Sunak and Liz Truss
Industrial Energy Transformation Fund Phase 2 Summer 2022
The Department for Business, Energy & Industrial Strategy (BEIS) has launched the Industrial Energy Transformation Fund (IETF) Phase 2: Summer 2022.
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’.
