UHY Ross Brooke Chartered Accountants
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
If you’re a business owner, be careful of a letter claiming to be from ‘Indv and Small Business Compliance’ team at HMRC and asking for confidential company information and bank statements. It’s likely to be a scam from people pretending to be from HMRC. They ask you to verify financial
HMRC have launched a handy new digital VAT Registration Estimator tool, with the aim of helping small business to determine if and when to register for VAT, including voluntary registration. By Chris Davies How to use the VAT Registration Estimator: Before starting you will need information to hand about your business income
From 1 August 2024, selling fees charged by Amazon to UK vendors will be subject to VAT at 20%. This is because of a change in the legal entity that charges the fees. Previously, fees were charged by Amazon Service Europe S.a.r.l (ASE), which did not have a UK establishment,
As technology moves ever forward, the use of AI and machine learning tools within accountancy is on the rise, with continual developments being made. By Sarah Hardy Xero recently announced their new JAX tool (short for Just Ask Xero) which adds a whole new layer of support for clients, accountants
On 1 October 2024, the Employment (Allocation of Tips) Act 2023 will come into effect, introducing significant changes to how tips are managed and distributed in the hospitality industry. This legislation aims to improve fairness by mandating that all tips, gratuities, and service charges are allocated fairly among employees. The