UHY Ross Brooke Chartered Accountants
Recently, we’ve seen a surge in calls from concerned clients who have received amended tax calculations (SA302) from HMRC. From April 2024, compulsory Class 2 National Insurance Contributions (NICs) of £179.40 were abolished for self-employed individuals with profits exceeding £6,725. Those with profits below this threshold can still make voluntary
In recent years, there has been a noticeable surge in Inheritance Tax (IHT) liabilities. HMRC has just published a report on IHT liabilities up to 2022-2023 tax year, see graph below. The graph shows liabilities consistently around the £5bn mark for the 4 years 2016/17 to 2019/20, then, a large
The Autumn Budget introduced significant changes to the UK tax system. Now, nine months on, the impact is being felt, not just in legislation, but in the way clients are thinking, planning, and engaging with their advisers. But with change comes opportunities and we’re here to help you exploit them.
Chris Davies has been busy behind the camera again! We’ve just released another short video from Chris, this time explaining the benefits of payrolling employee benefits in kind. His recent videos have sparked some great conversations, and we’d love to hear your thoughts on this one too. Watch here Let
The Autumn Budget 2024 saw the announcement of a key change in the way pensions will be treated for Inheritance Tax (IHT). The new rules will mean that from 6 April 2027, undrawn pension funds will no longer be exempt from IHT. This is a significant change and has thrown
Probate is a legal process which gives the executors of an estate authority to share out the estate of the person that has died (the testator) according to the will. Probate is not always required so it’s important to check if you require a grant of probate to access the
Take a look at Chris Davies’ short video where he shares a great tip for saving tax and which could also improve your firm’s efficiency. If you run a limited company where you’re the only employee and also the director, then you probably know that you’re not eligible for the
For many business owners, the question of how to pay themselves is one they revisit year after year. Should you take a bigger salary? Increase your dividends? Adjust the balance between the two to optimise for tax? It’s a conversation that comes up often, and understandably so. On the surface,
Landlords & Self Employed – Changes to income reporting – MTD 2025 Take a look at Chris Davies’ short video which explains what landlords and the self employed need to know about MTD. If you’re self-employed or a landlord in the UK, there are big changes coming your way –
We’re pleased to share the first edition of our new ‘In the know’ series, where we’ll be sharing timely insights and regulatory updates that could affect you or your organisation. We’re kicking things off with a tax-focused issue, covering the latest developments shaping the UK tax landscape. From upcoming digital