UHY Ross Brooke Chartered Accountants
HMRC has been allocated an additional £73m to focus its tax investigations on high net worth individuals and offshore accounts. While your tax position may stand up to scrutiny from HMRC, the prospect of an investigation is never welcome and can not only take a great deal of time to
Our client purchased a property and incurred the full SDLT (Stamp Duty Land Tax) on the value. The property was derelict however, and our Tax Director, Phil Kinzett-Evans advised a claim on the basis it was not a ‘dwelling’ as it was not capable of being occupied as such. This
Once all the food has been eaten, and it’s too cold to go outside, take the opportunity to put your affairs in order. You may already keep a list of all your assets, accounts, liabilities, insurances and so on, but you probably haven’t shared it with the people who will need to know that one day. Even if you have this list, do you update it regularly enough?
The ESFA launched the Better financial reporting programme in 2019, with a view to getting more consistent and accurate information from academy trusts and with a longer-term intention of automating much of the financial reporting. By Ed Passmore Under the programme information is submitted directly from the financial management software
Temporary reductions in SDLT, which are set to run until 31 March 2025, were announced in the Autumn Statement: Stamp Duty Land Tax — temporary increase to thresholds – GOV.UK (www.gov.uk) By Phil Kinzett-Evans The Treasury’s view is: “Reductions in SDLT rates, or increases in the thresholds, support house purchases
The sellers of a local estate sold the family homestead and made a substantial gain. We were of the view that significant elements of the property qualified for main residence relief, the tax exemption afforded to a family’s only or main residence. By Phil Kinzett-Evans The site included several subsidiary
These may seem odd bedfellows but there is much that can be done to significantly reduce the tax burden, both now and in the future. Obtaining probate can be a mechanical exercise to obtain control over the deceased’s estate but opportunities exist that are often lost. By Michael Brooke Nil
We’ve done it! We’ve been ranked in Accountancy Age’s Mid-Tier Power Index for the first time for delivering on our ambitious growth strategy in Thames Valley, and because our revenues have increased from £4.6m in 2019 to £7.1m in 2022. The Mid-Tier Power Index aims to spotlight mid-tier accountancy firms
Automatic Enrolment has helped millions put more into their pension pots than ever before, according to new figures released to mark 10 years since the policy was introduced. In 2021, employees across the UK saved £114.6 billion in their pensions. This is a real terms increase of £32.9 billion compared
In general terms employees and directors are assessed to tax on the cost of any social functions provided by their employer. There is however an exemption that applies to an annual function or functions (for example, a Christmas party) provided that it is available to employees generally and the cost