UHY Ross Brooke Chartered Accountants
As the rental, holiday let, and Airbnb markets continue to thrive in the UK, property owners are increasingly faced with complex financial and regulatory challenges. Navigating this landscape can be daunting, especially when it comes to ensuring compliance and maximising financial returns. This is where a specialist landlord accountant becomes
The allure of additional income from holiday lets and Airbnb properties has captivated many homeowners across the UK. However, with the rise of such ventures comes an increased focus from HM Revenue & Customs (HMRC). More and more taxpayers are finding themselves under the microscope for undeclared income from these
Most of us have never been involved in dealing with someone’s ‘estate’ until a person close to us dies. Being confronted by a mass of legal terms and procedures can be daunting, particularly when we are also dealing with bereavement. Putting the right things in place well in advance; such
If there is an international dimension to your personal or business or corporate financial affairs then you should be very aware that times are changing, and the aggressiveness of tax authorities, certainly across the UK and EU is on the up. Period. By David Jones – Tax Director The tax
In the UK, the highest capital gains tax rate on the sale of shares in a business is 20%. However, this rate can be reduced to just 10% on the first £1 million of taxable gains if the sale qualifies for Business Asset Disposal Relief (BADR). By Chris Davies In
In the last Budget the Chancellor announced a number of proposed changes to the taxation of Furnished Holiday Lets (FHLs) including Airbnb type lettings, but before looking at these it is probably worthwhile reminding ourselves of the existing rules. Tax advantages of FHLs Since the special tax rules were introduced
HMRC has received a £51 million boost from the Treasury to improve its helpline services. This funding will help HMRC meet and exceed its service targets, addressing recent challenges. This funding comes after HMRC considered cutting critical support lines for taxpayer self-assessment, VAT, and PAYE. Following backlash from stakeholders, these
Is a question I am asked fairly regularly, and my answer is that you can, but generally for tax reasons I wouldn’t recommend it. By Chris Davies Admittedly health insurance contributions will be a corporation tax deductible expense for the company saving tax at 19%, 25% or 26.5%, but depending
Over the last two years, the tax-free allowance for capital gains tax has been cut by over three-quarters. For the tax year that recently began on 6 April 2024, the Annual Exempt Amount has been reduced to £3,000 (£1,500 for trustees). These reductions mean that more and more of us
A new digital service has been launched that makes it easier to check if you have any gaps in your National Insurance (NI) record that may affect your State Pension entitlement. The service is called Check Your State Pension forecast and can be accessed via GOV.UK or the HMRC app.