UHY Ross Brooke Chartered Accountants
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
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