UHY Ross Brooke Chartered Accountants
Last year almost 19,000 people were fined for incorrect tax returns. Of these, 10,703 were deemed to be serious deliberate errors, and 1,025 were classed as making deliberate errors and attempting to conceal them from HMRC. The remainder were classed as having made careless mistakes or failing to take reasonable
Taxpayers could take advantage of four key benefits when filing their tax return early, HM Revenue and Customs (HMRC) has stated. The Self-Assessment deadline for the 2022 to 2023 tax year is 31 January 2024. Taxpayers who file early will have more control over their financial affairs and beat the
HMRC issues advice and information to taxpayers through publicly available guidance on its website and direct contact. This guidance plays a crucial role in helping taxpayers understand their tax obligations and make informed decisions. By Chris Davies However, there has been some uncertainty about the extent to which taxpayers can
HM Revenue & Customs (HMRC) is reminding employed workers that they can claim a refund on work-related expenses directly through GOV.UK. Workers can claim for work-related expenses including: See: Claim tax relief for your job expenses: Overview – GOV.UK (www.gov.uk) For help with your Self Assessment tax return or other
Self-Assessment customers, who are starting to think about their annual tax returns for the 2022 to 2023 tax year, should guard against being targeted by fraudsters, warns HMRC. Fraudsters target customers when they know they are more likely to be in contact with HMRC, which is why Self-Assessment customers should
In recent years, cryptocurrencies and NFTs have gained significant attention and value, making them an attractive option for donations and fundraising for charities. Cryptoassets have the potential to provide new opportunities for charities to raise funds, but it is important to understand the risks associated with them before deciding whether
Domicile is not residence and is a fairly specialist area. It is a uniquely British concept and broadly a person is born with their domicile of origin but that can be replaced by a domicile of choice. By Michael Brooke This can be quite a complex area but broken down
Landlords in the Private Rental Sector (PRS) appear to be reconsidering how they own their property. We are seeing more landlords enquiring about incorporating their property portfolios. Why? It’s simple. They’re looking for ways to improve their profitability and one way is to reduce the tax they pay. Whether it’s
Concerning Wills created before 9 October 2007, the nil rate band (NRB) was often wasted when assets passed entirely to the surviving spouse. This potentially would cost an extra £140,000 of IHT so wills were drafted before that date to either give away assets to the value of the NRB
Failure of private landlords to issue the government’s latest version of the ‘How to Rent’ document to tenants at the start of their tenancy, or on renewal (if the document has changed), means landlords could lose the right to repossess their property under Section 21. There will be a new