UHY Ross Brooke Chartered Accountants
HMRC recently launched a new campaign targeted at crypto investors as part of a crackdown on tax evasion. They have introduced a new disclosure and payment service for taxpayers to voluntarily disclose and pay any unpaid taxes associated with cryptoassets. Cryptoassets (also known as tokens or cryptocurrencies) include exchange tokens
It seems that not everyone was eating turkey and pulling crackers on Christmas Day. HMRC announced that 4,757 taxpayers filed their Self Assessment tax return on Christmas Day. This added to 8,876 being filed on Christmas Eve and a further 12,136 being filed on Boxing Day. Apparently, the peak time
Most of us will use Google when we want to know the answer to a simple question, but why should you use a specialist tax advisor rather than Google or AI for tax advice? By Chris Davies First, tax advisors offer personalised guidance tailored to your specific financial situation, something
Yes clearly ridiculous I know, but Felicity Harper the appellant in a recent First Tier tribunal case may have found it so funny. By Chris Davies Ms Harper appeared before the FTT to dispute a failure to notify penalty from HMRC for over £3,000, on the basis that she had
Following the recent Autumn Budget statement there has been speculation that a General election might be called as early as Spring 2024. Normally, in the run up to a General Election there are tax give aways in an attempt to re-elect the incumbent political party. One rumour that has been
On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament and started making, in his words, the long-term decisions necessary to strengthen the economy and build a brighter future. Fuelled by falling inflation and stabilised public finances, focus is now being applied to reducing debt, cutting tax
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