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.

Managing Your Cash Flow
With increasing supplier prices and economic uncertainty, 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

Rates and Thresholds for Employers 2023 To 2024
Employers should be aware that from April 2023 several statutory payment rates increase for the 2023-24 financial year.

Changes to Reporting Material Discrepancies to Companies House
Obliged entities carry out due diligence checks on companies under anti-money laundering regulations. They must report differences between the information they gather, and the information held at Companies House.

Companies House Direct and WebCHeck are Closing
Companies House (CH) has confirmed that Companies House Direct (CHD) and WebCHeck are closing on the 30 November 2023

Managing Inheritance Tax
Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous of the chancellor at a time when the government is strapped for cash. But it actually means that we are paying more

Data Protection and Marketing Webinar for Small Businesses
The Information Commissioner's Office (ICO) is repeating its data protection and marketing webinar for small businesses, due to the popular demand it received last time it ran.

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%.

Budget Special – Part 2
Like the main income tax bandings, employer and employee NIC thresholds are now also frozen until 5 April 2028. This broadly means that employers’ NIC will continue to apply at 13.8% to earnings in excess of £9,100 a year (£175 per week) and employees will continue to pay 12% on earnings between £12,570 and £50,270 and 2% thereafter.

Budget Special - Part 1
In the Autumn Statement, the Chancellor announced that the £12,300 annual tax-free capital gains tax exemption (or allowance) will be reduced to just £6,000 in 2023/24 and only £3,000 in 2024/25.

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