UHY Ross Brooke Chartered Accountants
If you do then you are probably aware of the requirement to disclose this on your Self-Assessment tax return. It is important to record any side income accurately and HMRC is going to be able to see exactly how much income you receive when using a digital platform from 1
Chris Davies answers some FAQ about the Let Property Campaign for Landlords By Chris Davies Q: What is the Let Property Campaign? A: The Let Property Campaign is a HMRC initiative that allows landlords to disclose any undisclosed rental income and rectify their tax affairs. It is open to all
The new tax year starts 6 April 2024, so you have six months to consider your planning options. Once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned. Do you fall into any of these categories?
Non-compliant Landlords Beware HMRC have access to an enormous amount of information that they use to target landlords of all types who have not disclosed details of their rental income. Where they find evidence of deliberate non-compliance the penalties can be as much as 100% of the unpaid tax, or
The number of “dawn raids” undertaken by HMRC has increased 36% in the past year, from 458 in 2021/22, to 623 in 2022/23*, shows new data from UHY Hacker Young, the national accountancy group. • Cash-in-hand businesses are likely to be the main targets• Campaign against sophisticated gangs involved in
Draft legislation released for consultation on 18 July indicates that business and individual taxpayers will be required to provide more information to HMRC in the next few years. It is proposed that from 2025/26, employers will be required to provide more detailed information on employee hours worked via real time
Navigating the world of personal tax can be challenging, especially when it comes to filing your self-assessment tax return. Understanding the intricacies is crucial to avoiding pitfalls that could lead to penalties from HM Revenue and Customs (HMRC). These are some of the most common failures that we witness people
Parents and carers need to be aware that if either of the couple have ‘adjusted net income’ in excess of £50,000 then the one with the higher income will potentially be charged tax on some or all of the child benefit and will need to request a self-assessment tax return
During the COVID pandemic the government relaxed the conditions to enable those working from home to be paid £6 a week tax free by their employer, or, where that was not paid by the employer, they could claim relief for £6 a week against their employment income for a tax
In the crypto world of Bitcoin, Ethereum, and countless altcoins, taxation becomes an ever-growing enigma. In the UK, the intricacies might baffle many. Let’s untangle this virtual net. Buying and Holding Crypto You just bought your first Bitcoin. Exciting, right? In the eyes of Her Majesty’s Revenue and Customs (HMRC),