DS Burge & Co

The UK Government recently closed a consultation on reforming the tax treatment of UK residents who are members of US LLCs.

The consultation, which closed on 31 July 2026, considered three possible reforms to address the double taxation problem that arises from the mismatch between how the IRS and HMRC classify LLC profits. No legislation has been introduced, and the existing rules remain in force.

We have published a full guide covering the current rules, the reform proposals, and what any future changes could mean for affected members. Link in comments.

From September 2026, HMRC has begun automatically signing up sole traders and landlords for Making Tax Digital (MTD) for Income Tax.

If your qualifying income was over £50,000 in the 2024/25 tax year and you haven't yet registered, HMRC may already have signed you up to use MTD for the 2026/27 tax year. You'll be notified by letter, either in your HMRC online account or by post.

Click the link in the comments to get in touch with our team if you need help with Making Tax Digital.

The Autumn Budget 2026 will take place on Wednesday 28th October. Chancellor John Healey will be updating Parliament on the latest economic forecasts as well as setting out the Government’s plans for spending and taxation.

The budget hub on our website will cover all of the changes in detail following the announcement - link in the comments.

Keep your home address off the public record 🏠

When setting up a limited company, you're required to list a registered company address, which Companies House publishes on its public register for anyone to view online.

If your company is UK-based but you would rather not use your own address, you can use our office as your official registered address - at no additional charge. As part of our secretarial services, we can also forward your mail and deal with Companies House directly on your behalf.

Get in touch with us and we will guide you through it.

Trivial benefits allow directors to receive small, non-cash gifts from their company, tax-free. There are certain criteria that must be fulfilled for these gifts to qualify for the £300 annual exemption.

6 pre-planned £50 gift vouchers purchased across the year to reach the £300 annual limit is the kind of arrangement HMRC may look at closely. HMRC are starting to ramp up their inspections of trivial benefits, and if they can see that gifts are pre-planned rather than goodwill gestures, the full amount can become taxable.

Click the link in the comments to read our trivial benefits guide that covers the qualifying rules and how to use trivial benefits correctly.

The IRS and HMRC classify US LLC profits differently. In the US, members are taxed on their share of profits as they arise. In the UK, HMRC taxes distributions when they are paid out.

For UK residents who are members of US LLCs, this mismatch can result in double taxation, with no automatic relief available under the UK/US tax treaty.

Click the link in the comments to read our full guide that covers the current rules and what the Government’s recent consultation could mean for affected members.

On Friday, the DS Burge & Co team enjoyed our annual Summer Party!

We headed to the cricket for a fantastic afternoon, and couldn't have picked a better day for it ☀️🏏

With lots to celebrate, including new joiners, it was great to get everyone together in the sunshine to catch-up outside the office (and watch some excellent cricket too).

An offshore bond forms part of an individual's estate for inheritance tax purposes. Its value, together with any related chargeable event gains, must be included when calculating inheritance tax.

Placing a bond into trust can help reduce its value within the estate, but does not remove the inheritance tax liability altogether.

Click the link in the comments to read our full guide on offshore bond taxation that covers inheritance tax implications, trust considerations and how bond gains interact with your estate.

Did you know that as a director of a close company, you have a £300 annual trivial benefits allowance?

This £300 limit runs with the tax year (6 April – 5 April), not your company's accounting period. Any unused allowance cannot be carried forward to the next tax year.

Our latest guide covers everything you need to know about trivial benefits for directors - link in the comments.

When you ship goods internationally, customs duty obligations aren’t always straightforward.

It depends on the shipping terms or 'Incoterms' agreed between buyer and seller. Delivered Duty Paid, Delivered at Place and Ex Works each carry very different obligations, and with global tariff changes reshaping import and export costs, choosing the right terms is now even more important for your business.

Read our article on recent tariff changes for a complete breakdown of the key Incoterms and what they mean for your business - link in description.