UHY Ross Brooke Chartered Accountants
This is a timely reminder that employers may make small tax-free gifts to employees and directors if all of the following conditions apply: This is known as the ‘trivial benefit’ exemption. Employers do not need to pay tax or National Insurance or let HMRC know, however, they need to keep
HM Revenue and Customs (HMRC) have issued a reminder to be careful about scam attempts that target people filing Self Assessment tax returns. In the last year, nearly 150,000 scam attempts were referred to HMRC, a 16.7% increase on last year. With the 31 January 2025 filing deadline approaching, fraudsters
Significant tax changes were announced in the Autumn 2024 Budget affecting owners of double-cab pickup trucks (DCPU). From 1 April 2025 for Corporation Tax and 6 April 2025 for Income Tax, double cab pick up trucks with a payload capacity of one tonne or more will be reclassified as cars for
Download our handy tax card which shows the latest tax rates for the taxes we are asked most about. This summary contains the key tax rates and allowances for the 2024/25 tax year, as applicable to persons resident and permanently settled in the UK. It is not an exhaustive list
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
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
Well, here we are, in the aftermath of what felt like the most eagerly anticipated budget ever (maybe). The sky hasn’t fallen in but there is certainly lots to consider. Back in March 2024 our ‘reform of the non-dom taxation’ blog summarised the changes to the non-dom rules which were
There were significant changes in the Budget on the 30th October 2024 that will have a major impact on Estate Planning in the future. This note is not intended to be all embracing but seeks to address the concerns of our typical clients. By Michael Brooke FCA TEP The major changes
The current State Pension is £11,502 and is due to rise to around £12,000 a year for 2025/26. At current annuity rates it would cost over £300,000 to receive an index-linked annuity starting at £12,000 a year, so it’s important to maximise your entitlement. In order to receive a full