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.
Changes to Business Rates Rules for Self-Catering Properties
From April 2023, new eligibility rules for business rates will apply to self-catering properties in England and Wales. If you don’t meet these rules, your property will become eligible for paying Council Tax
Extending the “Income Tax Cash Basis” for the Self-Employed
This HM Revenue & Customs (HMRC) consultation seeks views and feedback on proposals to increase eligibility and use of the income tax cash basis for the self-employed.
HMRC Late Payment Interest Rates to Be Revised After Bank of England Increases Base Rate
The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of England base rate to 4.25% from 4%.
UK Employer Taxes Update – Online P11D Reporting
As the new tax year approaches, we highlight some important employer developments and changes to legislation and allowances relating to UK employer taxes, especially about online P11D submissions.
UK and EU Formally Adopt The Windsor Framework
Last week, the Foreign Secretary, James Cleverly, and Vice President to the European Commission, Maroš Šefčovič, met to sign off the Windsor Framework at the Withdrawal Agreement Joint Committee in London.
Mitigating the Long-Term Effect of Inflation
Inflation is a problem for most of us. Savers find that the value of their cash is being rapidly eroded. At 10% inflation, the £100 you save today will only buy £90 worth of goods in a year’s time. Many people find that their household budgets are stressed.
The Recent Global Bank Stocks Slump has Implications for all Businesses
Following the collapse of Silicon Valley and Signature banks, bank shares in Asia and Europe have slumped, despite the reassurances from Joe Biden. The volatility has led to speculation that the Federal Reserve will pause plans to
UK Budget Summary
Last week, Jeremy Hunt, Chancellor of the Exchequer, revealed his first Spring Budget. There was a focus on managing inflation and government debt, encouraging those who have left their jobs to return to the workforce, and increasing business investment.
New UK Version of GDPR
New data laws to cut down paperwork for businesses and reduce cookie pops-up have been introduced by the UK government.
Spring Budget 2023
At Spring Budget 2023 the government is building on this foundation, with a plan to deliver on three of the five key priorities set out by the Prime Minister in January: to halve inflation, grow the economy and get debt falling.This comes against a backdrop of higher levels of government debt due to the economic impacts of the COVID-19 pandemic
HMRC Employer Bulletin: February 2023
HMRC publishes the Employer Bulletin 6 times a year, giving employers and agents the latest information on topics and issues that may affect them.
HMRC See an Increase in Fraudulent Claims for R&D Tax Relief
HMRC state that they have seen an increase in fraudulent claims for Research & Development (R&D) tax relief. They believe companies in certain sectors are being deliberately targeted by third parties to make inaccurate R&D claims as an amendment to their Company Tax Returns.
Is the UK Going to Swerve A Recession?
While many companies continue to report tough operating conditions, especially in the manufacturing sector, the broader business mood has been lifted by signs of inflation peaking
Managing Your Cash Flow is Essential Right Now!
With ever increasing supplier prices, a recent 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.
HMRC Late Payment Interest Rates to Be Revised After Bank of England Increases Base Rate
The Bank of England Monetary Policy Committee announced on 2 February 2023 that it would increase the Bank of England base rate to 4% from 3.5%.
New Law Gives Employees and Other Workers More Say Over Their Working Hours
The UK government has supported the recently introduced “Predictable Terms and Conditions” Bill, which will bring forward changes for tens of millions of workers across the UK.
Households, Businesses, and Organisations Who Are “Off the Gas Grid” to Receive Energy Bill Support Over the Coming Weeks
From Monday last week, households across Great Britain who don’t use mains gas for heating started to receive £200 towards their energy bills as the Alternative Fuel Payment (AFP) scheme launched. Most will get the £200 AFP automatically as a credit on their electricity bill, but
Cost of Living Payments from Spring 2023 – Low Income Households
The Department for Work and Pensions (DWP) has announced more detail on the payment schedule for the next round of cost of living support.