UHY Ross Brooke Chartered Accountants
We have frequently written about the tax benefits of electric vehicles but now there are even more reasons for a business owner to consider purchasing one. The government’s Electric Car Grant (ECG) is now up and running, with more vehicle models eligible for discounts. Initially launched in July, the £650
The government is pressing ahead with Making Tax Digital (MTD) for Income Tax – and it will affect many sole traders and landlords over the next few years. Here’s what’s changing, when it’s changing, and how to get ready. What is MTD for Income Tax? Under MTD, sole traders and
Our second tax-focused edition highlights more key developments in the UK tax landscape. From digital tax deadlines to significant legislative changes, this update is designed to keep you informed and compliant. This issue includes articles on: Umbrella companies: what they are and why you need to know Right to work
Recently, we’ve seen a surge in calls from concerned clients who have received amended tax calculations (SA302) from HMRC. From April 2024, compulsory Class 2 National Insurance Contributions (NICs) of £179.40 were abolished for self-employed individuals with profits exceeding £6,725. Those with profits below this threshold can still make voluntary
HMRC has set its sights on the cosmetic surgery and aesthetics sector, and the figures are eye-watering. It believes as much as £9.5bn in VAT went unpaid in 2023–24, a jump of 17% in just one year. This growing focus means treatments such as botox, fillers and hair transplants are
In recent years, there has been a noticeable surge in Inheritance Tax (IHT) liabilities. HMRC has just published a report on IHT liabilities up to 2022-2023 tax year, see graph below. The graph shows liabilities consistently around the £5bn mark for the 4 years 2016/17 to 2019/20, then, a large
When it comes to selling your business, there’s a wealth of options, and opinions, available at every turn. Most business owners are aware of the most popular, mainstream routes available, including trade buyers and private equity, as well as management buyouts. However, often overlooked is an option that offers compelling
The UK government has announced a significant reform to the taxation of carried interest, a form of performance-based remuneration commonly received by investment fund managers. This change, set to take effect from 6 April 2026, represents a fundamental shift in the tax treatment of such income. By Phil Kinzett-Evans –
If you’re involved with a charity – whether you’re on the board, manage the accounts, or provide support behind the scenes – you may have heard that there are some changes coming to the way charities report their finances. The biggest step in that process has been completed with the
The Autumn Budget introduced significant changes to the UK tax system. Now, nine months on, the impact is being felt, not just in legislation, but in the way clients are thinking, planning, and engaging with their advisers. But with change comes opportunities and we’re here to help you exploit them.