UHY Ross Brooke Chartered Accountants
From 1 August 2024, selling fees charged by Amazon to UK vendors will be subject to VAT at 20%. This is because of a change in the legal entity that charges the fees. Previously, fees were charged by Amazon Service Europe S.a.r.l (ASE), which did not have a UK establishment,
The previous government included plans to end non-domiciled tax status at the Spring Budget and replace it with a 4-year foreign income and gains (FIG) regime. The new government have now announced their intention to continue with these plans, while ending some advantages for existing non-domiciled individuals. What the change
The widely reported IT outage in July caused significant disruption worldwide. In this case the fault was essentially due to a bug in a security update rather than a cyber-attack, but it demonstrated the vulnerability of networks. The government announced its plan during the King’s Speech to introduce a Cyber
Draft legislation has now been published for the government’s plan to end the VAT exemption for private school fees. The government is also legislating to remove private schools from being eligible for business rates charitable rates relief. Because business rates policy is devolved, the business rates policy change will only
At UHY Ross Brooke, we are proud of our long-standing annual sponsorship of a race at Newbury Racecourse. Each July, we eagerly await this event, which has become a highlight in our calendar. We know that it is a popular event and is a way for us to show our
Employers may meet the cost of certain social events for staff without creating a tax liability. This used to be a concession but is now a statutory exemption provided certain conditions apply. The exemption applies to an “annual party or similar function” provided it is available to all employees or
The government has now issued the draft legislation to abolish the special tax treatment of furnished holiday lettings (FHL) with effect from 6 April 2025 for individuals (1 April 2025 for corporation tax). This change will remove the tax advantages that current FHL landlords have received over other property businesses
On 29 July 2024, the Chancellor announced that as of 1 January 2025, for all education services and vocational training supplied by a private school, or a connected person, a charge will be subject to VAT at the standard rate of 20%. Boarding services provided by a private school, or a
As technology moves ever forward, the use of AI and machine learning tools within accountancy is on the rise, with continual developments being made. By Sarah Hardy Xero recently announced their new JAX tool (short for Just Ask Xero) which adds a whole new layer of support for clients, accountants
The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief. What is Business Asset Disposal Relief (BADR)? BADR, which was formerly known as entrepreneur’s relief, is a tax relief that’s