UHY Ross Brooke Chartered Accountants
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
Developments in the world of blockchain and crypto currency move fast and much has changed since HMRC’s original guidance on the subject of crypto currency published in 2014. In that original guidance there was a suggestion that dealing in crypto currency was so risky that it could be compared to
Since its introduction IR35 has been fraught with uncertainty and it has never produced the millions of extra tax revenue that the Government predicted. HMRC have very few officers working on IR35 cases and following numerous defeats before the Tax Tribunals the Government have decided that a different approach is
We are delighted to announce that we have successfully submitted our first VAT return under the new Making tax Digital for VAT service #MTDfB. This makes us one of the first firms in the country to do so and ensures that the remainder of our clients can be confident that