UHY Ross Brooke Chartered Accountants
With the audit exemption threshold expected to rise from its current level – £6.5m turnover, £3.26m gross assets and fewer than 50 employees – to £10.2m turnover and £5.1m gross assets in the near future, it may be considered by many observers that audits simply represent an administrative and financial burden to many small
The IR35 Business Entity Tests and example scenarios have been with us for over 2 years now, but are they working? No, according to the minutes of a recent meeting of the IR35 Forum consisting of a focus group of independent advisers, who concluded that the business entity tests were
In a worrying move, HMRC has been writing to a number of tradesmen informing them that the figures submitted in their tax returns do not compare with the results filed by their competitors and/or the benchmarks set by HMRC. For example, we have learned that HMRC expect Painters and Decorators to
I am a natural optimist and always try to seek out positives from any situation. Sometimes it can be quite challenging though! A major part of our work involves looking after clients when times are bad as well as when they are good. Indeed looking after clients when things are
Most accountants are also successful business owners, and can offer much more than just accounts and tax services. They should be your on-call business partner, a sounding board for ideas, helping you run your business smoothly and suggesting ways to earn and keep more income. They also have a wide
Updated 04/04/2022 Hands up anyone who would like to handover £1 and get £2.30 back? Sounds like a good deal doesn’t it? Well in a way that’s pretty much what the Research and Development Tax relief for small companies offers. The most surprising thing about this scheme is despite the
HMRC have recently issued a “Spotlight” publishing their view on the various Contractor Loan Schemes following the decision in P Boyle (TC1303). Mr Boyle provided his services through an offshore company and extracted money from that company in the form of loans which he argued were not taxable. The tribunal
Despite overall static retail sales in the period, according to a survey by the British Retail Consortium, a record amount of shopping was performed online in December, with a staggering increase of almost 20% over the previous year. The rise was attributed to both increased use of smart phones and
Our client runs a young, but fast growing limited company in the IT industry. He has big plans for the business and sees rapid growth in the next 5 years but understandably wants to retain control and ownership until it’s time to realise his investment. The company is very dependent
Our client was a trading company owned 50% each, by husband and wife. The company had traded successfully for many years and had built up a large reserve of cash that was principally held on deposit account. The owners also had substantial cash reserves and property income in their personal