UHY Ross Brooke Chartered Accountants
The tax rules on Benefits in Kind (BIKs) are changing. From 6 April 2027, Phase 1 of HMRC’s ‘Mandatory payrolling of Benefits in Kind and expenses’ comes into force. Phase 1 will apply only company cars, car fuel, vans, van fuel and medical benefits. Mandatory payrolling for most other benefits will
Last week, HMRC confirmed that, from September 2026, they will sign up taxpayers who are required to use Making Tax Digital (MTD) for Income Tax for 2026-27, but who have not yet registered for the service themselves. They have now published guidance setting out the steps affected individuals should take.
HMRC launched a consultation earlier this year, which we have been monitoring with close interest. It is possible it could significantly change how company owners take money out of their businesses tax-efficiently in certain circumstances. By Philip Kinzett-Evans – Tax Director What every business owner needs to know about a
HMRC have clarified the position on Self Assessment tax return reporting requirements for directors of close companies and updated their guidance for directors of charities. A close company is a company that is owned or controlled by a small number of people, usually five or fewer shareholders. New requirements Additional