UHY Ross Brooke Chartered Accountants
Updated 27 Sept 2021 Making Tax Digital for VAT has been in place since 2019 and was to be extended further from 1 April 2022 to include those with taxable incomes below the VAT registration threshold who have voluntarily registered. The next stage along HMRC’s digital roadmap is Making Tax
Brython Edwards explains. In a world where we are all increasingly conscious of our own environmental impact, it will come as no surprise to hear the words “plastic packaging tax” looming on the horizon. Originally announced as part of The Budget back in 2018, with a proposed commencement date of
HMRC has been in correspondence with the Chartered Institute of Taxation notifying its intention to write to investors in SEIS and EIS companies, where the investor may not be aware that the Company ceased to qualify for relief and taxpayer relief may need to be partially or wholly withdrawn. In
HMRC has lost a recent case in respect of how it calculates the tax due on life assurance gains- the profits accrued over many years of owning a life assurance investment policy, which is later encashed. It was always understood, by tax advisers and financial advisers alike, that a relief,
With Brexit looming no-one was really expecting any earth shattering news but better than expected tax receipts allowed the chancellor to make some welcome tax cuts whilst taking the opportunity to tighten up some perceived abuses. Described by himself as his “rabbit out of the hat” he heralded an increase
The SEIS was created to encourage individuals and other businesses to invest in new enterprise and entrepreneurship in return for tax incentives. Under the scheme, individuals can invest a maximum of £100,000 in a single tax year, which can be spread over a number of companies. In return they
In this update we go back to basics and look at how HMRC chooses individuals and businesses for enquiry once it has received the finalised returns. Tax gap by type of tax: The current tax gap is estimated to stand at just shy of £34bn: Income Tax, National Insurance Contributions
Owners of commercial properties, whether used in their own business or let to tenants could be sat on a tax goldmine and not even be aware of it. What tax relief? Experts estimate that property owners in the UK could be missing out on tax relief worth billions of pounds
Farmers in England will no longer be able to claim Common Agricultural Policy (CAP) subsidies for fields with solar photovoltaic (PV) panels installed, the Department for Environment, Food & Rural Affairs (Defra) has announced. The new rules, which will come into force in January 2015, will mean that any field