Menzies

OCTOBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. This relief is of a temporary nature and will expire on 31st March 2026. As a result, potentially seeing significant tax savings.

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Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. Income tax Tax Liabilities Given the increased interest rates, more taxpayers will be benefitting from increased interest on income. This means more taxpayers may find themselves with undisclosed tax liabilities and/or needing to file a tax return.

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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.

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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.

Manufacturing 52

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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

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Menzies

MARCH 25, 2024

Menzies LLP - A leading chartered accountancy firm. As another UK tax year draws to a close, here is a summary of the employer’s reporting deadlines that are approaching. The deadline to pay over any tax and NI owed under the PSA is 19th or 22nd Oct depending on the method of payment.

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Menzies

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm. Taking government tax incentives and available grants into consideration at the start of your journey is a smart move, to ensure you reap the returns in the quickest possible timeframes. Grant Finder updates on a regular basis for other grants available.

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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. Credit will be given against carbon taxes levied in the country of origin. What is it?

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. You have identified the new piece of equipment your business needs, it’s worth pausing to consider the best way to structure the purchase and tax can play an important role in the determining the best option for your business. –

Manufacturing 52

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Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. Corporation Tax A reduction in the headline rate of corporation tax to support UK business in a challenging economic climate. What could we expect to see from the Spring Budget 2024? April 2017?, [RG1] As a result, technically fall foul of the leasing restriction.

Manufacturing 52

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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., billion in lost tax revenue a year, so there is further work to do.

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Going Concern

JANUARY 20, 2023

The GAO notes that auditors have asked for decades that the Pentagon develop a plan to account for that gear and equipment—which can include “ammunition, missiles, torpedoes,” and component parts for those items—to little avail. In 2020, it said the process would be complete by 2026. NJ Accountant Pleads Guilty in $1.3

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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. This tax currently applies at a rate of £217.85

Manufacturing 40

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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.

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. Designed to increase the efficiency of the tax system, MTD aims to make tax administration more effective and easier for taxpayers to get their tax right.

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. Designed to increase the efficiency of the tax system, MTD aims to make tax administration more effective and easier for taxpayers to get their tax right.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. No increase in taxes on ‘working people’ As promised, the Chancellor did not raise ‘taxes for working people’, i.e. income tax and employee’s National Insurance. Nor has the Chancellor increased VAT. for all employees in April 2025.

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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.

chartered accountant 52

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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.

chartered accountant 52

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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

Manufacturing 52

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