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.
Self-Assessment: Don’t Forget to Declare COVID-19 Payments
HMRC is reminding taxpayers that they must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year.
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
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:
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.
Local Councils Open for Omicron Hospitality and Leisure Grant Applications
How to Apply: Blackpool businesses can apply here (Closing date for applications is Monday 14 February 2022 at 10.00am) Wyre businesses can apply here (Closing date for applications is Monday 14 February 2022 at 5.00pm) Preston businesses can apply here (Closing date for applications is Friday 18 March 2022.)
Remember To Declare Covid-19 Grants On Your Tax Return
HM Revenue and Customs (HMRC) is reminding Self-Assessment tax payers to declare any COVID-19 grant payments on their 2020 to 2021 tax return. These grants are taxable, and you should declare them on your 2020 to 2021 tax return before the deadline on 31 January 2022.
New Business Grants
The government is introducing a new grant scheme to support businesses that are experiencing difficulties because of the Omicron variant. Hospitality and leisure premises will benefit from targeted grant support. | Blackpool Poulton Accountant
Statutory Sick Pay Rebate scheme (SSPRS)
Employers will be able to claim the costs for up to two weeks of SSP per employee that has to take time off because of COVID-19. This two-week limit will be reset so an employer will be able to claim up to two weeks per employee regardless of whether they have claimed under the previous scheme for that employee.
End of Temporary Insolvency Measures
Temporary insolvency restrictions protections are being lifted and new targeted measures to support small business and commercial tenants introduced. The Insolvency Service has announced that Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October.
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.
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.
Fifth Self-Employed Income Support Grant To Be Paid In July
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July.
Furlough Grant Reduces To 70% For July
Remember that you are required to tell HMRC about overclaimed CJRS grants as part of your next claim. | Blackpool and Poulton based Chartered Accountants | Xero Platinum Partners | Cloud Accounting Experts
Covid-19 Government Support News June 2021
A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021. The grant is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June 2021.
Managing Mental Health in the Workplace
What can businesses do to support their people and help them to manage their mental health?
The Office for National Statistics (ONS) - Older Workers During the Pandemic Report
The ONS have published their report on the demographic and economic characteristics of older workers aged 50 years. The main points are that while the impact of the pandemic has been greatest for younger workers, older workers aged 50 years and over have been affected to a greater extent than those in the middle age groups.
Roundup Covid-19 Government Support News
A roundup of changes to government support information generally and for businesses, employers and the self-employed.