UHY Ross Brooke Chartered Accountants
The ninth edition of Prosper features insights into the latest business developments, tax updates and advice to help businesses prosper in 2025 and beyond. Our magazine contains the following articles, amongst many others: The importance of ESG for your SME: Understanding how Environmental, Social and Governance considerations are becoming essential for
Employee Ownership Trusts (EOTs) have well publicised advantages for the business owner selling his shares, not least the possibility of 0% tax on the sale. But what advantages are on offer for the employees? By Chris Davies EOTs offer employees a unique opportunity to share in the ownership and success
At the core of the EOT’s framework is the principle of employee benefit. For a trust to qualify as an EOT, it must operate for the benefit of all employees on an equal basis. This does not mean that every employee must receive the same financial benefit, but rather that
Employee Ownership Trusts (EOTs) are becoming an increasingly popular business structure in the UK. Introduced in 2014, EOTs provide a tax-efficient way to transition ownership while fostering employee engagement and long-term business sustainability. There are several compelling reasons why businesses should consider adopting this innovative model. By Chris Davies One
Creating a government business tax account with Her Majesty’s Revenue and Customs (HMRC) in the UK is an essential step for businesses to manage their taxes online. Here is a step-by-step guide to help you set up your account. 1. Prepare information Before starting, ensure you have the necessary information
Reflections on the October 2024 budget By Michael Brooke – Partner The landscape has definitely changed over the past few weeks following the first budget of the new Government but how should this affect planning? The main headlines around family businesses are: Business Property Relief (BPR) and Agricultural Property Relief
The announcement in the Autumn Budget about restrictions to inheritance tax (IHT) agricultural and business property relief from April 2026 has upset farming businesses in particular, resulting in a demonstration in London on 19th November. From 6 April 2026, it is proposed that 100% relief will only apply to 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
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
As HMRC intensifies its crackdown on National Minimum Wage (NMW) noncompliance, it’s vital to make sure you don’t fall foul of NMW laws. Compliance can have more complexities to it than many assume, and the risks of getting it wrong are significant. HMRC is focusing on SMEs for Minimum Wage