UHY Ross Brooke Chartered Accountants
Children and young adults (under the age of 18) are generally taxed on any income and gains they may receive in the same way as adults. By Tom Annat – Tax Manager Children are entitled to a tax-free personal allowance for income tax (currently £12,570) as well as the capital
Crypto currency is a topic which is rarely far from the news headlines these days and not always for the right reasons. By Tom Annat, Tax Manager The early hype suggesting we would all be buying our morning coffee with Bitcoin has yet to come to fruition. Whilst for many,
Coinbase has contacted investors who have cashed out more than £5,000 in fiat in the 2021 tax year to let them know that they have passed their details to HMRC. HMRC will be requesting similar information from other exchanges as it seeks to increase tax compliance in the crypto space.
With the end of the tax year approaching on 5th April, now is a good time to review your tax position and take some simple steps to make sure your tax affairs are as efficient as possible. Savings Gifts Sharing your assets None of the foregoing constitutes advice. Individual circumstances
Whether you are self-employed, a company director or an employee, pension contributions can be an extremely effective way of reducing your income tax or corporation tax liabilities. Not only that, but it obviously makes provision for your financial security in later life and can be a very important part of
Crypto investors may need to declare their income tax by filing a self assessment tax return, but how can you minimise how much tax you will have to pay? You could consider: Crypto tax can be very complicated and it’s worth taking professional advice from a crypto tax accountant. If
According to statistics released by HMRC almost 2 million over 65’s now need to file an annual self assessment return. And as many pensioners rely upon their investments for part of their income, this number will almost certainly rise over the forthcoming tax years as a result of the reductions
With the deadline for filing your 2021/2022 tax return looming, here are our top tips to help you complete it in time. Self-assessment deadline 2021/2022 Although the deadline is 31st January 2023, don’t leave it to the last minute to start, in case the HMRC website crashes or you need
The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased in from April 2026. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) was due to be phased in from April 2024. However, the government, recognising the current economic environment and the significant change
Although there has been no official announcement yet, it’s probably the worst kept secret that Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) has been deferred by 2 years. by Chris Davies From the digital vision set out by George Osbourne in 2015, it has already taken 7