UHY Ross Brooke Chartered Accountants
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),
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