UHY Ross Brooke Chartered Accountants
HMRC recently announced in their August 2024 Trust and Estate Newsletter that, following recommendations made by the former Office of Tax Simplification (OTS) and with working alongside professional bodies, such as the Chartered Institute Of Taxation (CIOT), the IHT forms have been updated. By Rebecca Horne-Smith – Senior Tax Manager
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
Technology now enables us to work away from the usual office setting. That situation ramped up hugely during the COVID pandemic. We are now left in a position where remote working, or some form hybrid working, is very much the norm. In some situations, the employee may even be working
Company directors often ask us whether buying a company car through the business is a good idea. And in view of the current feeling towards petrol and diesel cars, now is a good time to consider the benefits of electric vehicles. Benefits to the company of an electric company car
UK Residents UK residents realising a taxable gain on the sale of UK residential property must report and pay any capital gains tax due within 60 days of the sale completion date. The sale is reported to HMRC via a standalone ‘Capital Gains Tax on UK Property Account’. This is
The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be “painful” and the government would be making “big asks” of the country. He said that the country would need to be prepared to “accept short-term pain for long-term good”
After two relatively friendly reminder letters to cryptoasset holders, to make sure that their tax affairs are in order, HMRC have upped the ante with a third nudge letter that should leave the reader in no doubt that HMRC are serious about collecting tax due on crypto assets. By Chris
In recent years, there has been a noticeable surge in Inheritance Tax (IHT) liabilities. HMRC has just published a report on IHT liabilities up to 2021-2022 tax year, see graph below. The graph shows liabilities consistently around the £5bn mark for the 4 years 2016/17 to 2019/20, then, a large
I am sure that I am not the only one to be perturbed by the news that taxpayers who have overpaid tax will now have to actually request repayment of their tax. By Chris Davies Where PAYE taxpayers have overpaid tax for 2023/24 HMRC will issue a statement of account
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,