UHY Ross Brooke Chartered Accountants
It’s old news that HMRC is showing increasing interest in the crypto arena, shattering the belief of some people that crypto and NFTs are not subject to taxation and are outside the interest of the taxman. But in the latest news, HMRC have reportedly seized 3 NFTs as part of
That’s great news for you, but now the taxman is interested too. Crypto and DeFi investors are increasingly investing in Non-Fungible Tokens or NFTs, having started the trend now being promoted by sports stars and A listers. As a consequence, we are seeing increasing numbers of clients who have traded
Blog by by Rhys Madoc CEO, UHY International For clients, the answer is so much more than compliance with standards In accountancy, quality – at one level – is about making sure everything we do meets regulatory standards or legal requirements. Meeting these is the very minimum our clients expect.
The costs of keeping the country running through Covid were huge and inflation is expected to add to the country’s debt. The Office for Budget Responsibility has indicated that the treasury will need to find £45bn in interest, before even thinking about paying off the debt itself. As taxpayers we
Day traders in crypto assets should already be mindful of the high risk and the possibility of losses, but may not be aware of the tax liabilities also being incurred on profits. An added risk to your whole crypto adventure is the potential of a tax investigation by HMRC or
If you are VAT registered and you’ve already registered for MTD for VAT, then well done, you can ignore the rest of this blog. If you haven’t, you’d better read on. What’s MTD for VAT all about? MTD stands for Making Tax Digital, and it involves keeping your records in
Enterprise Nation is partnering with Aviva and Smart Energy GB to help businesses implement sustainable best practices that deliver a positive impact on the planet, society, and the economy. The programme has been designed to support small and medium businesses and business owners by increasing their understanding of environmental and
Making Tax Digital for Income Tax applying to the self-employed and landlords with gross incomes over £10,000 was originally set to apply from April 2023. However, HMRC has this week announced that MTD for ITSA will now be delayed until April 2024. A welcome stay of execution? For some, yes,
The legislation to introduce the new Plastic Packaging Tax is included in the Finance Act 2021. Secondary legislation will be introduced later in the year. Until the secondary legislation becomes law, the contents of the HMRC Policy Paper are subject to change. More guidance will be published later in the
As well as the prospect of dealing Making Tax Digital, the self-employed now have another challenge on the horizon which could lead to higher tax bills for many. Draft legislation has recently been published to change the basis periods for the assessment of self-employed profits to coincide with the tax