UHY Ross Brooke Chartered Accountants
If you sell on eBay, Vinted, Etsy, Facebook Marketplace or similar platforms, you’ve probably asked yourself the same question at least once:“Do I actually need to declare this to HMRC?” The honest answer is: sometimes yes, sometimes no. A lot of people assume that if they are only selling online
As the festive season approaches, HM Revenue & Customs (HMRC) is urging anyone who earns money from Christmas crafts, seasonal market stalls, or selling festive items to check whether they need to report their earnings for last year. HMRC’s “Help for Hustles” campaign highlights the importance of understanding when extra
As the 31 January tax return deadline approaches, many individuals across the UK may find themselves wondering whether they need to declare sales of clothes and personal possessions made on platforms such as eBay, Vinted, or similar online marketplaces. While these platforms have made it easier than ever to declutter
In a recent article published in the FT Advisor, our Crypto Tax Director Phil Kinzett-Evans describes the tax challenges facing crypto investors. These issues include: Cross border regulation and reporting UK tax classification – Capital Gains or Income Tax? When is a crypto currency conversion liable for tax? Tax implications
Less than one month before the self-assessment submission deadline, 5.7m people still had not filed their tax return. Over 12 million people are required to submit tax returns for 2022/23, many as a result of overlooked income such as renting out property through Airbnb, cryptoassets, having savings, investments or even
Just hours before the self-assessment submission deadline, 2.7m people still had not filed their tax return. Over 12 million people are required to submit tax returns for 2021/22, many as a result of overlooked income such as renting out property through Airbnb, having higher levels of savings, investments or even
In light of the revelation that the government minister Nadhim Zahawi has just received a £1.5m fine for a careless error on his tax return, and as the filing deadline for 2021/22 tax returns is now upon us, we thought it would be a good time to consider: “ What
It is that time of year again, when we start to think about the things we need to do for the tax year that we haven’t yet done. Save today for tomorrow! Accountants and Financial Advisers alike provide their hints and tips to their clients on how best to maximise
If you have been asked to complete a self-assessment return for 2015/16 then you have until the end of January to submit the form online to HMRC. If the return does not reach HMRC in time then there will be an automatic penalty of £100 even if there is no
As avid fans of online computing, we were pleased to hear in Budget 2015 of the Chancellor’s plans to move reporting for tax purposes into the digital era with the ultimate aim of removing the requirement to submit the annual tax return. For those that believe that this means that