UHY Ross Brooke Chartered Accountants
When it comes to dealing with a death, many of us have already heard of the term “Probate”, but not everyone understands what it means, nor whether it is even needed. By Michael Brooke What is a Grant of Probate? It makes sense to explain first of all what a
The rise of cryptocurrencies and other cryptoassets has presented tax authorities around the world with a new and unique set of challenges. By Phil Kinzett-Evans – Crypto Tax Director The rise of cryptocurrencies presents a new challenge for tax authorities around the world. These challenges include the lack of uniform
HMRC enquiry data The number of tax compliance checks HMRC opened in 2022/23 increased to 299,000. This represents a 21% increase across the two tax years since 2020/21. More recently, it is clear that HMRC has increased its compliance checks post pandemic. So far in 2023/24, HMRC has opened 237,000
Leaving the UK for tax purposes is a complex process. The introduction of the statutory residence test in 2013 has given more certainty to the process. However, the fact remains, that it is difficult to become non-UK resident and, even after leaving, the reach of the UK tax regime can
The new tax year starts 6 April 2024, so you have a couple of months to consider your options. Once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax (CGT) purposes will be lost for this year. Do you fall into
UPDATE: 21/2/2024 Double-cab pick up U-turn Further to the revised HMRC guidance issued last week regarding double-cab pickup trucks, after pressure from the agricultural and motor industry the Government have decided to retract that guidance and will make amendments in the next Finance Bill to reflect that NO changes will
It may surprise some readers to learn that independent taxation was not introduced until 1990. Up until that point, a married woman’s income was considered part of her husband’s for tax purposes. Thankfully, progress has been made since then and husbands and wives are now taxed separately. By Tom Annat
Not all expenses are reimbursed by employers and currently employees who incur expenses wholly, exclusively and necessarily in the performance of their duties, which are not reimbursed, may submit a claim to HMRC for tax relief on these expenses. By Chris Davies Currently HMRC deal with over one million such
Whenever considering choice of investments, tax efficiency plays a crucial role in maximising returns and minimising liabilities. For UK investors, understanding which investments offer favourable tax treatment can significantly impact long-term financial planning. By Chris Davies Here are ten tax-efficient investment options to consider: 1. Individual Savings Accounts (ISAs) ISAs
Musicians and taxes often seem like an unlikely duo, with the intricate art of music on one side and the complex world of tax regulations on the other. This disparity in skills means many musicians find themselves overpaying taxes, unaware of the significant savings they could make by taking advantage