UHY Ross Brooke Chartered Accountants
The Annual Tax on Enveloped Dwellings (ATED) is a tax charge broadly payable by corporate entities holding UK residential properties valued at more than £500,000. Enveloped properties must be revalued every 5 years. 2023 to 2024 is a revaluation year and properties must be revalued at 1st April 2022 or
Succession and extraction of value built up in the business is a problem for many business owners. But what if you could sell your business, extract the value, and pay 0% tax? Wouldn’t that be good? Imagine this scenario: You’ve built a successful business, and now would like to leave
Expert insight and analysis for world business The 15th edition of UHY Global magazine is now available. UHY Global draws on current analysis and commentary, including input from UHY’s member firm experts across the international network, to provide insight for today’s global business community. This thought-provoking and engaging read explores
116,000 buy-to-let properties were lost from the UK residential sector last year, and around 70,000 buy-to-let landlords exited the market. Why are so many landlords selling their rental properties? Tax breaks for landlords have been whittled away over the last few years, tenants’ legal rights have improved and many landlords
HMRC data shows that 3,275 people filed their self-assessment tax returns on Christmas Day 2022. This marks a record, with the number of people submitting their tax figures on December 25 up 15% on the 2,828 returns recorded on the same date in 2021 and the 2,700 logged in 2020.
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