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.
Could your Business Cope with Severe Winter Weather?
Creating a business continuity plan will help you understand and manage the risks faced in the event of extreme snowfall, flooding or similar.
Businesses are also advised to prepare a grab bag with essential items which can be easily accessed should the premises be evacuated or unable to be accessed.
HMRC Late Payment Interest Rates Revised
The Bank of England Monetary Policy Committee voted on 3 November 2022 to increase the Bank of England base rate to 3% from 2.25%.
HMRC interest rates are linked to the Bank of England base rate
The Key to Business Success in Challenging Times
On 17 November we will know more about the government’s spending plans and taxation policies. The prospect is one in which the economy will be less dependent on the government, with spending to be cut aggressively and taxes to rise across the board.
Autumn Statement 2022
The Autumn Statement 2022 comes at a time of significant economic challenge for the UK and global economy. Putin’s illegal war in Ukraine has contributed to a surge in energy prices, driving high inflation across the world.
Workers Paid Via Umbrella Companies
Umbrella companies are commonly used by employment agencies to pay temporary workers. HMRC are aware that some umbrella companies purport to avoid tax and claim to be able to maximise the worker’s take-home pay
Self-Assessment: Declare your COVID-19 Payments
SEISS payments
The SEISS application and payment windows during the 2021 to 2022 tax year were:
● SEISS Four: 22 April 2021 to 1 June 2021
● SEISS Five: 29 July 2021 to 30 September 2021
Registration of Overseas Entities Deadline
The new Register of Overseas Entities requires overseas entities that own land or property in the UK to declare their beneficial owners and/or managing officers.
HMRC Make Arrests in Connection with Suspected Fraudulent R&D Claims
The accountancy definition of R&D is modified for tax purposes by the Guidelines, which are given legal force by Parliamentary Regulations.
Living Wage Week 2022
The Living Wage rates are independently calculated based on the real cost of living in the UK and London.
Company Tax Returns – Job Retention Scheme and Eat Out to Help Out
If you received a Coronavirus Job Retention Scheme (CJRS) grant or an Eat Out to Help Out payment, you will need to do both of the following:
HMRC Guidance on Goodwill Valuations
The valuation of business goodwill for tax purposes is very subjective and is often a contentious area. HMRC have recently updated their guidance in their Shares and Assets Valuation Manual.
New Supply Chain Cyber Security Guidance
The National Cyber Security Centre (NCSC) has published new guidance to help organisations effectively assess and gain confidence in the cyber security of their supply chains.
Latest Recommended Christmas Posting Dates
Royal Mail has released the latest posting dates for Christmas. They say to allow plenty of time for posting
The Rural Start-Up Fund
The Prince’s Countryside Fund and Forest Holidays have teamed up to create The Rural Start-Up Fund, an exciting opportunity for rural businesses to receive financial support as they embark on a new business venture.
SDLT Changes Go Ahead
On 23 September 2022, it was announced that the Stamp Duty Land Tax (SDLT) nil-rate threshold on residential property would be increased from £125,000 to £250,000.
U-Turns to Steady the Financial Markets
In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts promised by Liz Truss in her Conservative Party leader campaign.