UHY Ross Brooke Chartered Accountants
HMRC have recently published details of the promoters of two tax avoidance schemes that purport to allow workers to maximise their take home pay. HMRC wants employers and employees to understand that these schemes (involving individuals agreeing an employment contract and working as a contractor) do not work and is
By Tom Annat It may surprise some readers to learn that independent taxation was not introduced until 1990. Up until that point, a married woman’s income was considered part of her husband’s for tax purposes. Thankfully, progress has been made since then and husbands and wives are now taxed separately.
HMRC is warning individuals not to share their personal information online to avoid their identities being used to claim bogus Self-Assessment tax refunds. HMRC is aware that criminals are attempting to obtain customers’ Government Gateway logins and other personal details, enabling them to register for Income Tax Self-Assessment and submit
by Phil Kinzett-Evans HMRC is raising the interest rate it charges on overdue tax bills from 2.75% to 3%, six times the 0.5% that it pays on repayments of overpaid tax, however, HMRC is not increasing the interest that it pays to taxpayers that might have been overcharged tax. Interest
It’s old news that HMRC is showing increasing interest in the crypto arena, shattering the belief of some people that crypto and NFTs are not subject to taxation and are outside the interest of the taxman. But in the latest news, HMRC have reportedly seized 3 NFTs as part of
That’s great news for you, but now the taxman is interested too. Crypto and DeFi investors are increasingly investing in Non-Fungible Tokens or NFTs, having started the trend now being promoted by sports stars and A listers. As a consequence, we are seeing increasing numbers of clients who have traded
The crypto exchange coinbase has contacted its investors to warn them that HMRC now requires them to provide information on their investors’ accounts. Who is affected by HMRC crypto asset disclosure? Crypto exchanges are legally obliged to disclose to HMRC all customers with a UK address who received fiat currency
Self-assessment deadline 2020/2021 Remember to file your tax return for tax year 2020/21 by 31st January 2022, but don’t leave it til the last minute to prepare or submit it! If you were hoping to send a paper return, you’ve missed the October 2021 deadline, so will need to complete
Finance Act 2021 legislated for the temporary 130% super-deduction for companies acquiring new plant and machinery announced in the Spring 2021 Budget. This applies where the expenditure is incurred between 1 April 2021 and 31 March 2023. This means that a new machine that cost £100,000 will reduce the company’s
There are many reasons why couples get married but tax and inheritance rarely feature high on the list. Yet, as a tax adviser, I frequently find myself saying to clients that they really should marry their partner as so much can be at stake if they don’t. Usually, eventually and