UHY Ross Brooke Chartered Accountants
According to statistics released by HMRC almost 2 million over 65’s now need to file an annual self assessment return. And as many pensioners rely upon their investments for part of their income, this number will almost certainly rise over the forthcoming tax years as a result of the reductions
As increasing numbers of businesses are operating in the crypto space, more employees are being paid in crypto, and consequently we are often asked, how do I pay tax on my earnings? Most employees in the UK are paid in fiat currency and will be subject to PAYE tax on
Do your New Year’s Resolutions include losing weight? Getting fit? Spending less time scrolling? All very laudable and probably the same as last year. And the year before. So how about some new ones, which are achievable, ultimately time-saving and which will make your life simpler. Businesses resolutions: Whatever you
According to research undertaken by private equity firm Growthdeck and published by Croner-I, Capital gains tax (CGT) bills have increased 27% on last year, with over £15bn of CGT paid in the year to 31/10/22.A number of factors have driven the CGT increase, including: How to reduce your CGT bill
The possibilities offered by de-fi seems to be virtually endless, but two very popular areas have been crypto staking and lending. By Chris Davies These come in various flavours but the underlying common theme is that these typically have offered returns, well above those offered by traditional banks and lenders.
What is the TAAR? The Targeted Anti-Avoidance Rules (TAARs) have been with us for some time. First introduced in Finance Act 2016, it is now found in the Taxation (Trading and Other Income) Act 2005, section 396B, and is designed to prevent the former practice of ‘phoenixing’, whereby a shareholder,
In response to a recommendation by the Office of Tax Simplification the Government have introduced draft legislation for inclusion in Finance Bill 2023 that extends the no gain/no loss rule when a couple separate. Under the current rules the no gain/no loss rule that means that there is no CGT
By Rebecca Horne-Smith Legislation day was 20th July and this saw new draft legislation issued for rules surrounding disposals in connection with divorce etc. These new rules will come into effect for disposals made on or after 6th April 2023, although are subject to change before the publication of the
Recent news about crypto is full of doom and gloom. Binance have suspended trading, Coinbase have announced they will lay off almost 1/5 of their staff and Bitcoin is trading at its lowest point in 18 months. (By comparison, the US stock market is also at its lowest point in
Should I incorporate my crypto trading business? As a firm of crypto specialist accountants, that is a question we are being asked more and more frequently. So how would we go about answering that? Income tax or CGT on crypto trading? Firstly a reminder that in HMRC eyes, individuals who