UHY Ross Brooke Chartered Accountants
Many taxpayers preparing for Making Tax Digital (MTD) want to know exactly what records HMRC expects them to keep. Under MTD for Income Tax, digital record keeping becomes mandatory for many landlords and sole traders. These rules start from April 2026. What records must be kept for MTD? Taxpayers within
Many landlords are still asking the same question. Does Making Tax Digital apply to rental income? From April 2026, landlords with gross rental income above £50,000 will need to follow the new Making Tax Digital for Income Tax (MTD for IT) rules. If you earn income from property, this change
During a week dominated by news of the Middle East conflict, on 3 March 2026, Chancellor Rachel Reeves presented the Spring Forecast to Parliament. The Chancellor told MPs she had “restored economic stability” as she presented the Office for Budget Responsibility’s (OBR’s) economic forecasts. The Chancellor focused on how the
An individual’s tax residency position in the UK is considered by reference to the Statutory Residence Test (SRT). The legislation is actually made up three tests which determine an individual’s UK residency position. The rules can be complex and require careful consideration. Getting things wrong can be costly, particularly where
The government has announced an over 40% increase in charge point grant amounts that will mean businesses, landlords and renters could save up to £500 on installing an electric vehicle (EV) charge point. Previously, the grant provided a discount of £350. The uplift could cover almost half the typical installation
If you run a business as a sole trader, the way you report tax to HMRC will soon change. Under Making Tax Digital for Income Tax, many self employed individuals will need to switch to digital record keeping and quarterly reporting. The first phase begins in April 2026. Do sole
One of the first questions people ask when preparing for Making Tax Digital is which accounting software they should use. HMRC requires taxpayers within MTD to keep digital records and submit updates using MTD compatible software. Selecting the right system can make the process much easier. What should MTD software
The Cycle to Work scheme continues to attract interest from employees and employers alike looking to optimise their salary package and perhaps gain a tax break. Below is an overview for businesses considering running a scheme or reviewing their existing arrangements. The Basic Structure The scheme allows an employer to
The Spring Statement will be delivered in Parliament on 3 March, giving an update on the state of the UK economy and the government’s financial outlook. Unlike the Autumn Budget, the Spring Statement is unlikely to be used for big tax decisions. For businesses it is a useful event as
Many UK landlords still do not realise that Making Tax Digital (MTD) will soon change how rental income is reported to HMRC. From April 2026, landlords with total property and business income above £50,000 must follow the new Making Tax Digital for Income Tax (MTD for IT) rules. If you