Menzies

APRIL 29, 2024

Menzies LLP - A leading chartered accountancy firm. The changes are intended to reduce the complexity and administrative burden for companies and will directly impact the type of accounts a company is required to prepare and whether the company is required to have a UK statutory audit.

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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?

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Menzies

OCTOBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. This relief is of a temporary nature and will expire on 31st March 2026. The acquisition of these assets must be completed prior to the deadline of 31st March 2026. The first instalment will be due on January 1, 2026, upon delivery.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. Running until the end of March 2026, this scheme offers a 70% government backed loan to SMEs of up to £2m, offering an opportunity for SME tech companies in their growth phase.

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Menzies

NOVEMBER 30, 2023

Menzies LLP - A leading chartered accountancy firm. The consultation feedback on the exposure draft has since led to a delay in the expected implementation date, with the revised version expected to come into effect for periods commencing on or after 1 January 2026. What date does FRED 82 come into effect?

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Menzies

AUGUST 21, 2023

Menzies LLP - A leading chartered accountancy firm. This relief is temporary and will end on 31 March 2026 but for companies that take advantage of it will enable up to £250 of each £1,000 of capital spend to be recovered against their tax bill and so potentially significant tax savings are available. What is Full Expensing?

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Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. MTD for income tax MTD for income tax is set to be implemented from April 2026. This Spring Budget will be announced against a backdrop of plateaued economic growth, diminishing living standards and above target inflation.

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Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. There will be a transition period up to 2026, after which, CBAM certificates must be bought, to offset the cost of embedded carbon and other emissions. What is it? Contracts and incoterms will need reviewing, to ensure the importer is compliant with CBAM requirements.

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Extending Full Expensing Capital Allowances: Recognising the capital-intensive nature of the manufacturing industry, we advocate for the extension of the full expensing capital allowances regime beyond March 2026.

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Menzies

JULY 9, 2024

Menzies LLP - A leading chartered accountancy firm. The UK electorate may have voted for a change in government, but underpinning the Labour manifesto is a strong emphasis on stability.

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Menzies

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm. These came in from 1 April 2023 and run until 31 March 2026 and can be used in conjunction with the AIA. Depending on the circumstances this may defer the tax relief available into the next accounting period.

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Menzies

MARCH 25, 2024

Menzies LLP - A leading chartered accountancy firm. Compulsory Payrolling of Benefits Payrolling of benefits will become the default mandatory method for reporting taxable benefits from 6 April 2026. As another UK tax year draws to a close, here is a summary of the employer’s reporting deadlines that are approaching.

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Menzies

MARCH 22, 2023

Menzies LLP - A leading chartered accountancy firm. These come in from 1 April 2023 and run until 31 March 2026 and can be used in conjunction with the AIA. Depending on the circumstances this may defer the tax relief available into the next accounting period.

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. Read on if you and your manufacturing company falls into one of the following categories: – For manufacturing companies investing in significant pieces of plant and machinery can be key to driving business growth. Should surplus cash be used?

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Menzies

JANUARY 4, 2024

Menzies LLP - A leading chartered accountancy firm. Albania, Australia, Belgium, Greece, France, Hungary, Kenya, Poland, Saudi Arabia, Serbia, Spain, Tunisia, Turkey) with about half that number again bringing in rules by the end of 2026 (e.g., for 2021/22. for 2021/22.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Therefore it is expected that many of the changes will not come into effect until 2026. The government published its much-anticipated Employment Rights Bill on 10 October, to meet its promise to bring this in within its first 100 days in power.

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Going Concern

JANUARY 20, 2023

Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.

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Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. We would like to see suitable commitments and practical plans to improve HMRC service levels and for these to be addressed before any potential introduction of Making Tax Digital for self-employed businesses in April 2026.

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Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. Where a business has moved ‘at risk’ goods into Northern Ireland, it may be eligible to claim for repayment of any duty paid on import, or remission of import duty deferred.

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Menzies

OCTOBER 4, 2022

Menzies LLP - A leading chartered accountancy firm. The basis period reform will not affect businesses with accounting year ends to 5 April or 31 March. In the transition year, HMRC are asking for tax ‘up front’ on the profits arising in the period from the accounting year end to the end of the tax year. Current rules.

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Menzies

AUGUST 21, 2024

Menzies LLP - A leading chartered accountancy firm. When investing in new plant and machinery, it may be worth fast tracking investment plans to take advantage of the 100% ‘full expensing that applies to investments in plant and machinery until March 2026.

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The changes are due to take effect from 6 th April 2026, which is fast approaching. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. For landlords, this transition brings both challenges and opportunities.

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The changes are due to take effect from 6 th April 2026, which is fast approaching. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. For landlords, this transition brings both challenges and opportunities.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The 2024 Autumn Budget introduces rising costs for tech employers through increased National Insurance and wage requirements, while offering targeted relief for smaller tech businesses and investing in digital infrastructure to support sector growth.

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Menzies

SEPTEMBER 27, 2024

Menzies LLP - A leading chartered accountancy firm. Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account.

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Menzies

SEPTEMBER 27, 2024

Menzies LLP - A leading chartered accountancy firm. Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account.

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Menzies

SEPTEMBER 27, 2024

Menzies LLP - A leading chartered accountancy firm. Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account. – potential for greater visibility and understanding of VAT obligations.

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Menzies

OCTOBER 25, 2024

Menzies LLP - A leading chartered accountancy firm. Therefore it is expected that many of the changes will not come into effect until 2026. The Equality and Human Rights Commission (EHRC) has provided guidance on this preventative duty. What does this mean? Nothing will change until it receives Royal Assent and becomes law.

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Menzies

JUNE 26, 2024

Menzies LLP - A leading chartered accountancy firm. Carbon output Labour have declared an initiative which would see £500m of funds available annually from 2026 to act as an incentive for manufacturers developing clean energy and investing in good jobs. The conservatives have committed to investing £1.1

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