UHY Ross Brooke Chartered Accountants
There is just a month left before the new National Living Wage is introduced. From 1 April 2016 employees over the age of 25 who are currently earning the minimum wage rate of £6.70 per hour will see a 50p increase in their pay, bringing it to £7.20 per hour.
As 5th April approaches, now is a good time to minimise your tax liabilities by making sure make sure that you use all the tax reliefs and allowances available to you before the current tax year ends. For example, if you have adult children who are planning to buy a
Advanced Payment Notices were introduced in 2014 to recover disputed tax and HMRC can issue notices to demand tax that it believes it is owed. Ignoring an APN and hoping it will go away is simply not an option. Failing to pay within the 90 days will only lead to
New data shows that businesses in the UK have already been fined more than £65 million since April last year for failure to submit their accounts on time. The figures released by Companies House show that between April and December 2015 more than 140,000 penalties were issued to businesses. In
The SEIS was created to encourage individuals and other businesses to invest in new enterprise and entrepreneurship in return for tax incentives. Under the scheme, individuals can invest a maximum of £100,000 in a single tax year, which can be spread over a number of companies. In return they
In this update we go back to basics and look at how HMRC chooses individuals and businesses for enquiry once it has received the finalised returns. Tax gap by type of tax: The current tax gap is estimated to stand at just shy of £34bn: Income Tax, National Insurance Contributions
The Chartered Accountancy practices of Ross Brooke and Brading Cryer have merged in a deal that both firms have described as a perfect match and Alan Gibson, Brading Cryer’s Managing Director is joining Ross Brooke as a Director and Shareholder. The combined firm will have 5 partners, 17 specialist managers
In recent years buy-to-lets have become increasing popular with seemingly everyman and his dog looking for a piece of the action, but the Autumn Statement contained a slap in the face for potential buy-to-let Landlords. Following on from his shock announcement earlier in the year that higher rate tax relief
The new rules for VAT on the storage on goods came into force on 1 October 2012 but there does seem to be plenty of evidence that it is not properly understood. From that date the provision of space for storage is a standard rated supply for VAT purposes. This
I have been both shocked and surprised by HMRC’s latest approach to VAT penalties for deliberate error. “But I don’t make any deliberate errors” you may think. OK, but in HMRC’s eyes you may be wrong because HMRC seem to have created their own definition of what is deliberate. In