UHY Ross Brooke Chartered Accountants
You check your sales figures and the top line looks healthy. Clients are coming in and you feel that business is booming. On paper, it seems like your business should be thriving, but when you glance at your bank balance, the numbers don’t match the effort. There’s not nearly as
As a business owner, managing employee benefits effectively is crucial—not just for employee satisfaction but also for compliance with tax regulations. One efficient way to handle benefits in kind (BIK) is through Pay As You Earn (PAYE), allowing you to streamline tax reporting and reduce administrative burdens. By Mark Duddridge
We’re pleased to share the first edition of our new ‘In the know’ series, where we’ll be sharing timely insights and regulatory updates that could affect you or your organisation. We’re kicking things off with a tax-focused issue, covering the latest developments shaping the UK tax landscape. From upcoming digital
Find the latest tax rates for 2025/26 in our useful summary, including those relevant to: Self employed Landlords Investment or pension income Company director or shareholder Company taxation and income tax employment benefits and expenses NICs for employees NICs for employers National living and minimum wage NICs for the self
On 26 March 2025, Chancellor Rachel Reeves presented her Spring Statement to parliament. Despite a backdrop of low economic growth and increasing government borrowing costs, the Chancellor remains committed to her ‘non-negotiable’ fiscal rules that aim to bring stability to the economy and security for working people. The headlines included
From April 2026, Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) will become mandatory for many self-employed individuals and landlords in the UK. While HMRC’s digital overhaul has been on the horizon for some time, there’s still a great deal of confusion and misinformation around what it
News reported last week said that the Chancellor has put together draft plans for spending cuts to welfare and other government departments. At the time of the 2024 Autumn Budget, the Office for Budget Responsibility (OBR) said that there was a £9.9 billion buffer available against the Chancellor’s own self-imposed
Employee Ownership Trusts (EOTs) have been gaining popularity in recent years as a means of enabling business owners to transition ownership while safeguarding the company’s future. But a common question arises when exploring this model: what happens to the profits in an EOT? Understanding how profits are treated within this
A Start Up Loan is a government-backed personal loan aimed at helping new businesses get off the ground, especially those who find it difficult to source finance from traditional lenders. Eligible new business owners can borrow between £500 and £25,000 at a fixed interest rate of 6% per year. Loans
The introduction of Making Tax Digital (MTD) for the self-employed and/or landlords with combined income exceeding £50,000 is scheduled to take effect from April 2026. MTD fundamentally shifts the way tax records are maintained and how information is submitted to HMRC. The traditional approach of annual tax returns will be