UHY Ross Brooke Chartered Accountants
The recent announcement in the 2024 Autumn Budget that the rate of employer’s National Insurance will rise from 13.8% to 15% from April 2025 will encourage employers to look at ways to reduce this additional cost, and one way that employers and employees might find appealing is an electric vehicle
The UK government is introducing changes to how taxpayers report their income. This initiative, called Making Tax Digital for Income Tax (MTD for ITSA), aims to simplify tax reporting and improve accuracy. Here’s what you need to know. By Chris Davies – Partner Why Is the Government Introducing MTD? The
The UK government is testing a new generative AI chatbot to help small businesses access information more easily on GOV.UK. Up to 15,000 users can now ask the chatbot questions about business rules, taxes, and available support. By Chris Davies – Partner Linked from 30 business-related GOV.UK pages, the tool
On 30 October 2024, Chancellor Rachel Reeves presented her first Budget to Parliament. This was a Budget intended to restore stability to our economy and to begin a decade of national renewal. Investment will be funded by revised debt rules to facilitate additional borrowing and a hefty £40 billion of
The 2024 Budget brought clarity to the Employee Ownership Trust provisions, addressing potential misuse while supporting businesses that have genuine intentions. Key changes include a ban on offshore trustees, mandatory market valuations and a focus on long-term employee ownership. By David Jones – Tax Director For years, there has been
In recent years, there has been growing concern about the risks associated with spurious R&D tax credit claims. Some unregulated firms claiming to specialise in this area have come under investigation by HMRC, leading to serious consequences for their clients. One recent example is Green Jellyfish, a company that collapsed
As the Budget date approaches, what might we expect to see announced on 30 October? By Chris Davies The government faces a considerable fiscal challenge, with a projected £22 billion shortfall, necessitating decisive action to manage public finances. While significant tax increases on income, VAT, or National Insurance have been
Reducing the carbon footprint of your small or medium-sized business is both a responsible and achievable goal. Over a span of say five years, with small, steady changes, your business can make a significant positive impact on the environment. It’s important to remember that sustainability is a gradual journey that
Companies House have rolled out a new penalties regime as part of a broader effort to boost corporate transparency and combat economic crime, following the implementation of the Economic Crime and Corporate Transparency Act 2023. This could mean tougher consequences in the shape of financial penalties for companies that don’t
As of 1st October, new laws are in place to ensure that workers keep 100% of the tips, gratuities, and service charges they earn. This is a major development for employees in sectors such as hospitality, where tipping plays a significant role in take-home pay, and for employers, who will