UHY Ross Brooke Chartered Accountants
Since its introduction in 1999 IR35 has been a cause of major confusion. The rules are difficult to understand and difficult to enforce. According to HMRC they estimate the cost of non-compliance to be in the region of £1bn per year Since 1999 the responsibility for deciding whether a contract
“With Brexit looming ever closer it is important that businesses that trade with EU member states prepare now as it is increasingly likely that we will leave the European Union without a deal on the 31 October” explains Maddy Weeks a Manager in our Newbury office. “In preparation of a
The Treasury have been concerned for some time about the loss of VAT to the Exchequer in the construction industry and in particular in relation to missing trader fraud. As a consequence a new set of VAT rules will apply from a now delayed start of 1 October 2020 to
For many years, residential buy-to-lets were seen as a very tax efficient investment opportunity and we were regularly approached by new clients anxious to get in on the act for tax advice. Potentially low rates of capital gains tax on sale along with some very generous exemptions and potentially full
HMRC has lost a recent case in respect of how it calculates the tax due on life assurance gains- the profits accrued over many years of owning a life assurance investment policy, which is later encashed. It was always understood, by tax advisers and financial advisers alike, that a relief,
The introduction of the ‘deemed domicile’ rules in April 2017 brought about a number of changes for the tax position of long-term UK residents who were previously considered UK resident but not-domiciled (UKRND’s). The change has meant that individuals’ resident in the UK for at least 15 out of the
For some years the government have recognised that the IR35 rules have not been working and introduced legislation in April 2018 to tackle the tax gap but only in relation to those working in the public sector. In the 2018 Budget the government announced that business will become responsible for
In his 2018 Budget, the Chancellor announced a new “Structures & Buildings Allowance” (“SBA”) for new non-residential structures. “Hark, it’s an Industrial Buildings Allowance”, I hear you cry! And you probably wouldn’t be too far off the mark. Relief is available for eligible construction costs incurred on or after 29
Once again, we approach tax year end, with some thoughts on what to do to ensure you are tax optimal! Accountants and Financial Advisers alike provide their hints and tips to their clients on how best to maximise their wealth through a variety of strategies which include investment, tax-efficient saving,
As a consequence of the increasing amount of missing trader VAT fraud in the construction industry forthcoming changes will alter the way that vat is calculated and paid by affected businesses. From 1 March 2021 supplies of both labour and materials made by sub-contractors to contractors will be made under