UHY Ross Brooke Chartered Accountants
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
Innovate UK, part of UK Research and Innovation, has launched another round of Smart Grants funding for game-changing and commercially viable R&D innovation. Up to £25 million is available for disruptive research and development (R&D) innovations that can significantly impact the UK economy. All proposals must be business-focused, with deliverable,
In view of the rising energy prices, are there any additional reliefs for anyone WFH? by Sayyora Magliulo My client was concerned about rising costs of electricity and wanted to know whether there were any additional reliefs available for working from home due to increasing costs of household expenses. The
by Rebecca Horne-Smith While Inheritance Tax is an inescapable and unwelcome burden on an increasing number of estates, if your estate includes a farm, there are some very helpful reliefs to be had. There are however significant hurdles to ensure that these can be claimed, and the correct decisions early
On 23 September 2022, it was announced that the Stamp Duty Land Tax (SDLT) nil-rate threshold on residential property would be increased from £125,000 to £250,000. Like the abolition of the 1.25 percentage point increase in NICs, the legislation to enact the SDLT change was already in progress when the
By Phil Kinzett-Evans In a recent stamp duty land tax case, the founder of GÜ desserts was found to have erroneously made a claim that his £3m property, including a road, was non-residential in nature on the basis that the neighbouring farmer used the road for commercial purposes. Tax relief