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.

Use Tax-Free Childcare Account to Pay for Summer Holiday Clubs
Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child

Budget Date Announced
The State Opening of Parliament took place on 17 July and the King’s Speech set out the measures that the government intends to

Beware The 60% Income Tax Trap
It has recently been reported over half a million taxpayers paid a marginal income tax rate of 60% in 2022/23, up by

Base Rate Plateau A Concern for Small Businesses
In the wake of the Bank of England's decision to maintain the base rate at 5.25%, the Federation of Small Businesses (FSB) has

Voluntary Code of Conduct for Directors: Will It Make A Difference?
The new code would be voluntary and is designed to help directors and business leaders build

VAT on the Costs of Selling a Subsidiary
When a holding company sells shares in a subsidiary, the VAT incurred on the professional fees involved would normally be

VAT on Private School Fees – Any Planning?
Many parents have been asking if there is any planning to avoid the 20% increase in private school fees. However, the actual

Reminder: P11D Form Submission Deadline Approaching
As mentioned in the diary of main tax events, form P11D for reporting benefits provided to employees and directors needs to be submitted online by

General Election 2024 – What Are Main Parties Saying About Tax?
Both the Conservative and Labour parties have pledged not to increase income tax, national insurance or VAT, although

Report on Companies House Progress Released
The Economic Crime and Corporate Transparency Act 2023 brought in reforms to Companies House procedures and powers with the first phase applying

Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory furl rates from 1 June 2024. These are the suggested reimbursement rates for employees' private mileage

Government Promise to Cut National Insurance Confirmed
While commenting on the GDP growth and what it indicates about the economy, the Prime Minister again drew attention to

HMRC Official Rate of Interest Remains at 2.25%
HMRC have announced that the official rate of interest will remain at 2.25% for 2024/25, despite the Bank of England Base Rate currently

Should Employees Reimburse Their Employer For Private Fuel?
Where a company car is provided for use by an employee or director there is a benefit in kind taxable on the

2023/24 Employment-Related Securities Returns Due By 6 July
The deadline for reporting shares and securities and share options issued to employees for 2023/24 is

Report Employee Benefits on Form P11d By 6 July
P11d forms for reporting expenses and benefits in kind provided to employees and directors in 2023/24 need to be submitted by

Increasing Your Profit – Why it’s Not the Same as Growing Sales
While increasing turnover (revenue) is important, it doesn’t necessarily lead to increased profits

Financing Your Business – What Should You Know?
What types of finance are available? How can you present a request to a bank and have it accepted? We will endeavour to