UHY Ross Brooke Chartered Accountants
Inheritance Tax (IHT) might sound like something only the super-wealthy need to worry about—but it can catch more people out than you’d think. With rising house prices and more people building up savings over their lifetime, it’s not uncommon for families to get stung with a tax bill they weren’t
From April 2025, significant changes to Stamp Duty Land Tax (SDLT) have come into effect, impacting homebuyers across England and Northern Ireland. These adjustments mark the end of temporary measures introduced in September 2022, which had aimed to ease the financial burden on property buyers. Here’s a breakdown of what
The High Income Child Benefit Charge (HICBC) reduces or eliminated Child Benefit payments for individuals whose income exceeds a certain threshold. It applies when either parent earns over £60,000 (from April 2024) until it is fully withdrawn at £80,000. It is based on the individual income of the higher earner
Find the latest tax rates for 2025/26 in our useful summary, including those relevant to: Self employed Landlords Investment or pension income Company director or shareholder Company taxation and income tax employment benefits and expenses NICs for employees NICs for employers National living and minimum wage NICs for the self
Figures obtained under a Freedom of Information Act request show that HMRC has significantly increased the amount of completed capital gains tax investigations. These have increased to 14,223 in 2023/24, up from 4,564 in 2022/23. By Tom Annat From our experience, we have seen an increase in HMRC letters being
The Spring Statement announced that Making Tax Digital for Income Tax (MTD for IT) regime will be further extended to smaller businesses. What is MTD for IT? Making Tax Digital for Income Tax (MTD for IT) is a government initiative that requires self-employed individuals and landlords with income over a
On 26 March 2025, Chancellor Rachel Reeves presented her Spring Statement to parliament. Despite a backdrop of low economic growth and increasing government borrowing costs, the Chancellor remains committed to her ‘non-negotiable’ fiscal rules that aim to bring stability to the economy and security for working people. The headlines included
From April 2026, Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) will become mandatory for many self-employed individuals and landlords in the UK. While HMRC’s digital overhaul has been on the horizon for some time, there’s still a great deal of confusion and misinformation around what it
With a relatively short time left before the end of the current tax year, now is the time to be undertaking some serious year end tax planning prior to the forthcoming 5th April. Ideally, you will want to take advantage of all reliefs and allowances, reduce your personal tax rate
UK Inheritance Tax (IHT) receipts are on course to hit a record high by the end of the 2024/25 tax year, with figures showing that between April 2024 and January 2025, collections have already reached £7 billion – a £700 million increase from the previous year. If this trend continues,