Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. A key theme of today’s budget was “Invest, Invest, Invest!” with the intention of driving economic growth.

Manufacturing 59

Manufacturing corporation tax chartered accountant Technology 59

Menzies

OCTOBER 31, 2024

Menzies LLP - A leading chartered accountancy firm. Rise in Capital Gains Tax However, the rise in Capital Gains Tax, along with upcoming changes to Business Asset Disposal Relief, has raised concerns among the many owner-managed and family-run businesses within the sector.

Transportation 45

Transportation chartered accountant Maine Tax 45

Menzies

SEPTEMBER 23, 2024

Menzies LLP - A leading chartered accountancy firm. With an estimated £22 billion black hole to fill its likely that taxes will increase, and public spending will be cut. Increasing CGT rates with immediate effect on Budget-day may cause landlords to hold on to properties as they won’t want to suffer a higher tax burden.

Construction 59

Construction chartered accountant Government Tax 59

Menzies

FEBRUARY 14, 2024

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. increase in the standard multiplier from April 2024 adds strain. Tax Cuts The sector relies on disposable income and consumer confidence.

Hospitality 59

Hospitality chartered accountant income tax Tax 59

Menzies

FEBRUARY 14, 2024

Menzies LLP - A leading chartered accountancy firm. Martin Hamilton highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Such an increase could see high streets shops business rate bills increase up to £1.92bn.

Retail 59

Retail chartered accountant Manufacturing accounting firms 59

Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The Chancellor’s new policy changes and tax increases are expected to affect the property and construction sector.

Construction 49

Construction chartered accountant accounting and finance Sales 49

Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. A “painful” autumn budget The Prime Minister has already warned that the autumn budget held on 30 October 2024 will be ‘painful’ and that ‘big asks’ will be made of the public.

Technology 52

Technology income tax chartered accountant Tax 52

Menzies

APRIL 4, 2024

Menzies LLP - A leading chartered accountancy firm. This date is expected to be around 19 th April 2024 (but is not confirmed). Your holding will be classed as a capital asset and any gains or losses realised on disposal will be subject to Capital Gains Tax. A Bitcoin Halving Event effects all who are involved in Bitcoin.

chartered accountant 52

chartered accountant income tax tax return Tax 52

Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Significant announcements are usually reserved for the autumn budget, but with a general election coming up in 2024 will we see any big announcements from Chancellor Jeremy Hunt this March?

Technology 59

Technology income tax chartered accountant Government 59

Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. With potential changes to capital gains tax (CGT) and the loss of Business Asset Disposal Relief (BADR), owners may end up paying significantly more when selling their businesses.

chartered accountant 52

chartered accountant Transportation accounting firms Tax 52

Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The FHL regime has been around for years and provides individuals and companies who hire out furnished properties as holiday lets with various tax advantages. In recent years the number of landlords providing furnished holiday homes has increased significantly.

Construction 64

Construction chartered accountant Tax Government 64

Menzies

MARCH 11, 2024

Menzies LLP - A leading chartered accountancy firm. The chancellor failed to address any major areas impacting the sector, which is likely to leave retailers continuing to struggle for the rest of 2024. The post Spring Budget 2024: Retail Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

Retail 52

Retail chartered accountant Government Tax 52

Menzies

JULY 8, 2024

Menzies LLP - A leading chartered accountancy firm. Overview Following the Labour Party victory in election results, there are several key points from their 2024 manifesto that would significantly impact the industry.

Transportation 52

Transportation chartered accountant Education accounting firms 52

Menzies

MARCH 7, 2024

Menzies LLP - A leading chartered accountancy firm. on 1 April 2024, many H&L businesses will see their operational costs rise at a time when there is already very little headroom. The post Spring Budget 2024 – H&L Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

Hospitality 52

Hospitality chartered accountant Tax accounting firms 52

Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The post Spring Budget 2024 – Manufacturing Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP. Meet our Manufacturing specialists For more budget commentary click here.

Manufacturing 64

Manufacturing chartered accountant Education accounting firms 64

Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. TAX INCENTIVES Whilst the further reduction to Employees NIC is part of a wider strategy to encourage people back to work will be welcomed by individuals, it wont change the costs for business owners. In fact, with national minimum wage jumping up 9.8%

Transportation 52

Transportation chartered accountant Manufacturing Tax 52

Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. See our Property & Construction Team’s predictions and wish list for the Chancellor’s Spring Budget 2024 below. We know the CGT allowance is due to be reduced from £6,000 to £3,000 in April 2024 so this could be delayed or scrapped.

Construction 52

Construction chartered accountant Tax accounting firms 52

Menzies

SEPTEMBER 23, 2024

Menzies LLP - A leading chartered accountancy firm. Capital Gains Tax and Business Asset Disposal Relief (BADR) A significant portion of the UK’s transport and logistics sector consists of family-owned businesses. This could help mitigate the cost impact on the industry while still generating additional revenue for the Treasury.

Transportation 52

Transportation chartered accountant Government Tax 52

Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. See our Spring Budget 2024 Predictions and Wish List for from our Private Client Team below. Income tax Tax Liabilities Given the increased interest rates, more taxpayers will be benefitting from increased interest on income.

income tax 52

income tax chartered accountant tax return Tax 52

Menzies

JULY 9, 2024

Menzies LLP - A leading chartered accountancy firm. The R&D tax credits scheme was not specifically mentioned in Labour’s election manifesto – further to significant recent changes to the regime, businesses may welcome some clarity and stability in this area.

Manufacturing 52

Manufacturing corporation tax chartered accountant Government 52

Menzies

AUGUST 21, 2024

Menzies LLP - A leading chartered accountancy firm. Further information has now been made available in respect of the abolition of the Furnished Holiday Lettings (FHL) tax regime that will take effect from April 2025. Capital gains tax reliefs – access to reliefs from taxes on chargeable gains.

Tax 52

Tax income tax chartered accountant accounting and finance 52

Menzies

FEBRUARY 19, 2024

Menzies LLP - A leading chartered accountancy firm. As part of the ongoing transition from CHIEF, all export declarations must be made through the Customs Declaration Service (CDS) from 30 March 2024, when CHIEF will be switched off for export declarations.

chartered accountant 52

chartered accountant accounting firms Government Account 52

Menzies

JULY 8, 2024

Menzies LLP - A leading chartered accountancy firm. This might end up meaning lower taxes for hospitality and leisure businesses with physical presence if some of this burden is taken from business rates and put onto online players – but it remains to be seen until more detail is provided.

Hospitality 52

Hospitality chartered accountant accounting firms Government 52

Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. April 2024 will see tax changes affecting cryptoasset reporting to HMRC come into effect. The changes will specifically focus on creating a dedicated section within HRMC’s self-assessment tax return form for cryptoasset capital gains tax (CGT).

tax return 52

tax return chartered accountant income tax Tax 52

Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is a highly valuable relief to promote and reward attempts by companies to achieve advances in scientific or technological fields or appreciable improvements in associated processes. Tax saving increases by up to £2.80

Tax 59

Tax Non-Profits chartered accountant corporation tax 59

Menzies

JUNE 5, 2024

Menzies LLP - A leading chartered accountancy firm. LATEST UPDATE Groups within the scope of Pillar 2 in the UK will need to register with HMRC within 6 months of the Group’s first accounting period starting on or after 31 December 2023. WHAT IS PILLAR 2? Assess whether your Group is within the scope Pillar 2.

Finance 59

Finance Tax chartered accountant accounting and finance 59

Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Online tutors are easy to find and there are many websites offering to match students to tutors, but how many tutors consider the potential UK tax reporting obligations arising from their endeavours? This information will start to be collected from 1 January 2024.

Tax 59

Tax tax return chartered accountant Start-ups 59

Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. November’s Autumn Statement earmarked £4.5bn for key manufacturing sectors, and some beneficial changes to tax reliefs and full expensing. What does the food and drink manufacturing sector need from Government policy in 2024?

Manufacturing 52

Manufacturing Government Agriculture chartered accountant 52

Menzies

DECEMBER 1, 2022

Menzies LLP - A leading chartered accountancy firm. From 1 April 2023, the corporation tax rate will be increasing from 19% to 25% for companies with taxable profits over £250,000. Companies with taxable profits of less than £50,000 will continue to pay tax at 19%. Should you shorten your accounting period?

corporation tax 52

corporation tax Tax chartered accountant accounting firms 52

Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? If you receive any prize money from outside the UK, tax may be withheld on these earnings.

Sports 59

Sports Tax tax return chartered accountant 59

Menzies

JUNE 6, 2023

Menzies LLP - A leading chartered accountancy firm. To dissuade taxpayers from all forms of non-compliance, the UK tax code contains many other types of penalties that apply in alternative scenarios. If the return is still outstanding after 6 months then HMRC can charge a penalty equal to the greater of £300 or 5% x tax due.

Tax 52

Tax income tax chartered accountant accounting and finance 52

CPA Practice

JUNE 1, 2023

million filings in 2024, and 5-6 million filings each year thereafter, with the potential for steep penalties for the taxpayer. The coalition includes the following organizations: AICPA Latino Tax Pros National Association of Black Accountants, Inc. It is estimated that there will be 32.6 in Ahmedabad, Gujarat, India.

institute of chartered accountants 111

institute of chartered accountants chartered accountant North Dakota Texas 111

Menzies

MARCH 25, 2024

Menzies LLP - A leading chartered accountancy firm. HMRC has recently changed the time limit on the reporting for new EMI notifications granted from 6 April 2024. Under the new legislation, the deadline to report the grant of new EMI share options is now 6 July following the end of the tax year in which they were granted.

chartered accountant 59

chartered accountant Tax Legal accounting firms 59

Menzies

AUGUST 15, 2024

Menzies LLP - A leading chartered accountancy firm. But it’s not just breeding that might cause a tax problem, as pet sitters will also fall onto HMRC’s radar with the introduction of the online platform reporting rules. Are you prepared if HMRC start to sniff around your tax affairs?

tax return 52

tax return chartered accountant Tax Sales 52

Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Capital gains tax (CGT) has traditionally been a tax that most people could ignore. However, as has happened with higher rate tax, the reach of CGT has been growing and will extend further over the next few years. What can you do? What can you do?

Tax 45

Tax income tax chartered accountant accounting firms 45

Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below). Once you are happy please complete the process.

income tax 52

income tax Tax chartered accountant Government 52

Menzies

NOVEMBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. This is a welcome measure to obtain tax relief on capital spend and boost future investment on assets, such as robotics systems/AI and plant and machinery. Stamp duty land tax – up to full relief 4. This should assist in simplifying the regime in future.

Transportation 52

Transportation chartered accountant Tax Government 52